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Workfromhome
Challenging Nas100 IdeaWell skills and experience are put are test here
This could still break the downward trendline i have in place there
it could still create a double top successfully create a new lower high then
lower low see breakout entry tell me what
Salesforce looks strongCRM has consolidated for almost 3 weeks, after gapping down on the news it had acquired Slack (WORK).
Risk reward ratio is around 3.
A potential test of the pre-gap candle lows might be in place before attempting to reach the 50sma, and subsequently the top of the gap.
OBV line has tested and is now respecting the line that was made before the gap higher.
Zoom december 13th week chartMy point of view of ZOOM, looking at different trend lines, resistance and support, and the rsi. Also if you think about the fact that the vaccine is only for emergency use for now, makes sense that ZM and other 'work from home' stocks should not dump next week, also we can see numerous lockdowns, for example in Germany, and the US.
Im overall bullish, even tho we might see a 360's to form a double bottom.
ZM to 490? Rise or Fall before Earnings - Cycle AnalysisBig day for ZM today. It faces resistance from the all time high line set since 19 Oct. The line has been a resistance on 28 Oct and 6 Nov after which it dipped massively to retest 370s.
If ZM can break out of the resistance today (mostly likely will need to be with a big gap opening) -- it's bullish until earnings. This is the likely scenario supported with cycle analysis.
If ZM falls below today, we test 350-382 as next resistance until Earnings. ZM may turn after earnings to highs of around 412.
Waiting patiently.
Good luck!
Zoom 8h Chart 11/2 Head & Shoulders May Have Bottomed@cptWORLD Gave some great insight on zoom so I went back to review and adjust accordingly at the the end of the day.
The bears failed today which I wasn't expecting until the last green trendline. This made me adjust my buy zone up slightly to 430-455. However, we need to see tomorrow and over the next few days how price reacts to this trend. Right now we are looking good for a bounce back up.
I've switched from short-term bearish to neutral. I'll be watching this closely as more lockdowns and stay-at-home orders are announced.
NASDAQ:ZM
Slack break out from 3M downward trend rejectedSlack (WORK) has failed to break out from its downward trend that started in June.
Despite my strong bullish long term view on Slack the outlook for the next few weeks remains not very positiv - support levels at 28.60 / 27.30 / 23.60 could be seen as entry points to accumulate.
WORK - Just Buy40+ in early 2021, if not sooner. Will depend on market conditions of course, but the demand for efficient and optimized at home working platforms will only increase as more companies shift to at-home employment. Benefits have already been realized, no turning back now no matter how hard anyone fights it. Slack is positioned well to be a leader in such an environment. Easy buy. Technicals point up as well, above 32.5 and we will test the supply zone above around 36-40.
$WORK - Falling Wedge OpportunityFor the longest time this stock has been floating at $30 and it simply cannot seem to break that level. However, technicals are shaping up to say otherwise. After analysis on the daily chart, it seems as if there is a falling wedge forming- and in my opinion, now is the perfect time to get in.
I purchased options dated to October to give me a little wiggle-room but feel free to take any risk you would like.
GLTA
Slack: Long, 5-10% Trade!TA:
Short Term Downward trend but currently sitting at support zone; good place to enter with stop losses set diligently below.
Has been following Fib Retracement levels on moves up and thus why I have outlined the target area due to the downward trendline and the fib retracement level.
-Megalodon (Rahim)
PS: Don't take this for Gospel, manage risk accordingly
You are welcome to start discussions below and post your own charts, enjoy!
NYSE:WORK XETR:8S0
Slack Ready to Bust a Move$WORK
A name I owned in the 20's but bailed on has quietly based into the 34 handle, is bull flagging with confirmed higher lows, and seems ready to bust out.
Target another 15-20 from here.
WORK BUY opp i have been following this since the gap, last week GS downgrade $work to $30 , i believe it was strange downgrade for the stock like intentionally they want the price to be around the $30ish to kill all options traders, it's great company and it's work from home stock!
technically speaking the stock set on very strong support the yellow trend line since April, in the other hand $32 area very tough, if the stock break $32 smoothly then it will fly to close the gap, if the stock breakdown $29.50 then the stock will go down to $25..
UPWK looks to retest the 13s by the end of June or early July11.85 seems to have made a very strong resistance and UPWK has been moving in right direction in the bull triangle for awhile. Price could fall back to 11.85 in the next day or 2, but this will probably only delay the move back to the 13s. Patience will be key here.
Lines Legend
1. Horizontal lines: Used to mark out major resistances and support based on points with larger trading volume (buy & sell), as well as any gap(s).
2. Diagonal lines: These are trend lines to mark out the price points that would if the stock is still bullish or bearish
Technical indicators used
1. VWAP
2. EMA
3. RSI
FIrst post on tradingview, but I have been working with these tools and made a nice run over the last year. Let me know your thoughts :)
CHGG - BREAKOUT / NEW HIGHSChegg, Inc. operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. Strong fundamentals showing increasing earnings for the past quarters above +40%, revenues accelerating +35% consistently for the past quarters, with margins expanding and positive earnings revisions for 2021. One of the stronger stocks on my watchlist of companies whose earnings are growing not despite of the pandemic but because of it.
Stock already broke out from a pattern resistance last week with accelerating volume and an entry position for potential range expansion is shown on the chart. Expectation is for price to continue its trend up from an early stage breakout with above average volume and find support on it's 10-day EMA on pullbacks.
NET - MOMENTUM TRADE SLINGSHOTCLOUDFLARE (NET) met expectations 2 days ago on my previous post and broke out from a Blue Sky Set-Up. It paused yesterday for profit taking and is currently set-up again to continue it's move to hit a round number target. Needham just raised its price target to 38, a mere 3% away from it's current price. NET is a clear beneficiary of the shift to work from home and e-commerce on increased demand for cybersecurity. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.
Current set-up is a slingshot which could potentially result to another Bullish Marobozu similar to the breakout candle. Possibilities are: (1) it pauses for another day (today) with low volatility or (2) continue its range expansion and hit 38-40. Pauses can extend to three days with tightening ranges and decreasing volume indicating a healthy profit taking before proceeding to make an explosive move which is otherwise referred to as a Boomer Set-Up. Best approach to prevent early participation if explosive breakout doesn't materialize is to buy at the break of the yesterdays high supported by volume acceleration. This can clearly observed and managed on the 15-minute chart.
NET : SLINGSHOT TO BOOMER SET UPCLOUDFLARE (NET) met breakout expectation from a Blue Sky set-up and is currently on a pause currently on Slingshot Set-up to potentially continue its range expansion. Needham just raised its price target to 38, a mere 3% away from its current price. NET is clearly a beneficiary to the work from home and e-commerce shift with increasing demand for cybersecurity. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.
On technical analysis, a Slingshot set-up is a brief healthy profit taking with very little volatility which could result to another range expansion similar to the Bullish Marubozu breakout candle 2 days ago. If the expansion doesn't materialize today, the ranges can get tighter for 2 more days which could be a springboard to the potential expansion (Boomer Set-Up). To avoid opportunity cost, it's best to buy at the break of yesterdays high supported by volume acceleration. Price action is best observed and managed on the 15-min chart for ease of execution. Trade duration is as little a few hours to a day. If position is ahead and does not hit price target, sell half to protect gains and trail stop the balance on the 5-day EMA to minimize weekend risk.
As always, risk first and profit second. Be aware of your risk profile and only risk what you can afford to lose.
WORK SWING TRADING OPPORTUNITYTARGET PRICE $40.
BOUNCE BACK FROM SOLID SUPPORT LEVEL.
ENJOY YOUR TRADE!
Not the time to SHORT ZM yetZM is still very much on the bullish side of the trend line and the next few days will decide if it makes or break.
Watch the 244.03 mark. If it fails to break above that mark in the next few days, it's a long way down for this boy.
Either way, I WILL NOT RECOMMEND to LONG ZM at this point as the risk/reward ratio not great and the p/e ratio of >1300 is just plain insanity. I will continue looking for a good Short entry.
Good luck everyone
Lines Legend
1. Horizontal lines: Used to mark out major resistances and support based on points with larger trading volume (buy & sell), as well as any gap(s).
2. Diagonal lines: These are trend lines to mark out the price points that would if the stock is still bullish or bearish
Technical indicators used
1. VWAP
2. EMA
3. RSI
