LITE double bottomI am giving this a try. The chart kinda says it all. I am looking for T1 to get reached, but will likely take it all off, if that happens. SL for me occurs on a break of the green line.
0JVV trade ideas
LITE: Potential BuyClear upwards channel backed by positive analyst expectations I would consider Lumentum Holdings as a buy.
Watchlist 2023-06-28 $NVDA $AMD $GIS $MARA $ENVX $LITEAMEX:SPY breaking out of the falling wedge yesterday to finally make a higher high on the daily after 6 days of selling. I'm confident this is rend change as the VOLD ratio was trending at 3.5 all day, indicating that 3.5 times as much volume was flowing into up stocks as down stocks. ADD was pinned near +1800, indicating that 1.8K stocks was trending up. And finally there was a cumulative build in a positive tick reading. SPY needs to stay over 431 for this to be valid, an hourly close over 437 isa a great indication that buyer want to push this higher today, it doesn’t have to make a new higher high today but we should not need see a pullback that gets back to the PD lows. However, FED Powell is on a panel today so me mindful of any comments that could send the market in either direction, but the risk is to the downside.
For further confirmation of a trend day, watch for:
USI:ADD pinned near +\-2000
USI:VOLD ratio over +/- 3
USI:TICK cumulating past 0 wicking to +/-900
Chips
Lower as a group on following reports from the WSJ suggesting the Biden administration may impose new restrictions on the export of AI computing chips to China as early as July. Companies including Nvidia, Advanced Micro Devices, and Intel, which rely on China for at least a fifth of their revenue,
NASDAQ:NVDA - under 405.
NASDAQ:AMD under 107.
NVDA has 25% of sales coming form china so they stand to be hurt the most by the potential ban.
Support 387
Resistance 418
Inflection 400
NYSE:GIS - "Reports Weak Sales. Its Outlook Isn't Great Either". Looking for an entry near 77.72 with target to 74.50. 3.3 ATR PM move and a 1.5 RVOL. This has potential to close much lower today after weak reports. It also has lost the 200 EMA and everyone who bought after the last earnings is well underwater. This is a potential change in character trade.
NASDAQ:MARA - finally getting over the important 12.85 pivot with room to 15.70 if the market remains bullish today for tech.
NASDAQ:ENVX - day two continuation over 16.40
NASDAQ:LITE - looking for support at 56 after showing sign of a bottom at 55.
Comment what you are watching!
Watchlist 2023-04-10 $SPY $LEVI $LITE $TSLA $SQ $CVNAAMEX:SPY - gapping down from a resilient Friday session on lower vol but QQQs showing relative weakness in the morning as economic data including a hot nonfarm payrolls is signaling more potential for future rate hikes . SPY is still in the upward channel for the march 13 lows. 409 is the key level where it needs to hold to see future upside today.
Not seeing an particularly compelling ideas this morning. Will likely need to wait and see how the market behaves ar 409 and 405.50 support.
For further confirmation of a trend day, watch for:
USI:ADD pinned near +\-2000
USI:VOLD ratio over +/- 3
USI:TICK cumulating past 0 wicking to +/-900
NYSE:LEVI - looking for a day 2 continuation to the downside if it stays heavy under the 15 pivot. If we see capitulation vol the a hol over the 15.30 inflection. Looking for a long.
NASDAQ:LITE - Friday news = Rosenblatt Downgrades Lumentum to Neutral From Buy, Cuts Price Target to HKEX:48 From $77. down 4.5 ATRs on 0.5 PM RVOL. Lots of vol done at the 46.50 level. If it stays heavy under here. Looking for a short entry on a retest oof 45.80. If It can get above 46.60 and stay there for more than 2 min on the open. Looking for a reversal BO long.
NASDAQ:TSLA - showing relative weakness in the tech sector. Looking for a short entry if we see a bounce up to around 183 with fail follow through.
NYSE:SQ - KBW downgraded its rating on SQ from 'outperform' to 'market perform' and reduced its price target to HKEX:75 from $90. RR under the 65.80 support for a short is not great. Would have to attach on a bounce up to the 67.50 inflection or a retest of 65.80 for confirmation of continueded downside.
Other Watches
NYSE:CVNA - if a suto rev H&s forms near 9, looking for a long with resistance at 10.30.
27/5/2022 NASDAQ (LITE)Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $85.55
Target Price: $82.93
Stop Loss: $88.17
26/5/2022 NASDAQ (LITE)Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $84.28
Target Price: $82.85
Stop Loss: $86.67
LITE breaking out of a tight range with higher than average volu* Excellent earnings
* Strong up trend in the long term
* High 3-month relative strength of 2.61 in the Tech sector
* High 50 day U/D ratio of 2.11
* Breaking out of a 3.31% range
* During the consolidation the volume did dry up and as it started breaking out the volume picked up.
Trade Idea:
* You can enter now as the price is just breaking out of the tight range
* If you're looking for a better entry you may wait for an entry opportunity near the $105.61 area
LITE - A confusing perspectiveLet's crack open this LITE and do some quick analysis. ( PLEASE READ ALL INFO PROVIDWED BEFORE COMMENTING OR INVESTING THIS IS A MAN NOT A TRAINED PROFFESIONAL).
Likes: Almost everything however it scares me with the progress it has mad with minor resistance on certain pivotal moments for the company. Just look at this history... ( i like to add angle calculations into the feed i truly believe its a good tool to get a understanding of your stock price movements especially when it makes its move.
Its going and has been steadily but what we will see here is a breaking point. RSI tells me to buy in as we hit those lower then average buy and sells. But i know our resistance will hold for 2-4 months before taking in a 20%-30% profit (maybe less). Or when earnings come out this boi about to explode.... Your Choice your investment. Give credit if it fails or if it succeeds.
LITE#LITE, Lumentum Holdings Inc. Everything on the screen, from the features of the technical analysis, here is the fact that the paper had 2 resistance levels (the area of two yellow circles), so it was required to wait for the breakdown of both resistance levels, this is a strictly mandatory condition in such cases. I foresee that it will go to the goals like scalded, a very large volume of the release was yesterday. 2 growth targets - 114.16 (+ 18.72%) and 121.08 (+ 25.5% in total). If desired, this is a good entry point into the medium term, the company's business is promising
$LITE only a matter of time before this breaks outLITE finally broke the weekly resistance level of 96.5 last week on good volume and now it is consolidating near resistance. Watching the 99/100 level break next week for the continuation.
Symmetrical TRiangleLITE is try to form a cup and handle as well if it forms a handle long entry would be a nudge over the yearly high.
The cup high minus the low gives you cup depth. 96.74 minus 69.15 = 27.59. Take this number and multiply it by 0.38, 0.62 and 0.79 to get targets one. Add it to your long entry level. Under the handle low, when a handle forms it would be a good place to place a stop. Divide 27.59 by 2 and you have mid cup. Under Mid cup is another place to place a stop. A handle low may be in the very beginning of formation at question mark, but not quite.
Symmetrical triangles are continuation patterns as a rule. Price moves between 2 converging trendlines sloping in opposite directions. This one is trying to break to the upside but until it does with a confirmed uptrend it is not by rules considered a break-out. This one had a throwback. Price went over long entry level then come back below long entry level in a quick move, within a few days. Had it broken long entry level and went up for an extended period of time, then came back down, it would be a pull back. Throwbacks can hurt performance. Pull backs are healthy. I guess time will tell if this stock can go up and stay up. It may have come back down to fill that gap it left behind
Not a recommendation.
LITE looking bullishLITE is forming a nice cup and handle pattern and has regained the fib level of 0.5 and successfully tested it. If there is enough buying pressure to reclaim the .61 fib level, it would mean it would enter back into the prime trend line from march.
Upside is 90.86
downside is 93.16
First ever post. any feedback is much appreciated as I am trying to learn.
cheers,
rags
LUMENTUM HLDGS Analysis DailyHey guys, LUMENTUM HLDGS is in a bullish configuration with stable purchase volume we are in full bullish power. LUMENTUM HLDGS broke the median with great potential to climb up to the last highest on the TIMEFRAME 4H we arrive just behind the top of the last highest and if the buyers continue in their strides.
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LITESupport - $87
Resistance - $78
1st Target - 92.5 (previous high on Jan 31, 2020)
Tomorrow if it closes above this high, with the stock in upward trend channel, this will provide fireworks with new high.
LITE - Triangle breakout heralds gains between 30% - 70%Falling resistance and rising channel support in DARK BLUE created a symmetrical triangle after the Feb 12 all-time high. Stiff resistance was finally broken on a daily and weekly basis, after a multi-month consolidation, clearly showing that bulls are in control. All-time highs will be tested soon; if this powerful and now re-energized uptrend contiunes, then the measured move out of the triangle is 109 (blue arrow), just shy of 1.618 fib extension at 112.
Past that target, there's an interesting confluence where the mid points of TWO rising channels cross, very close to the 2.618 extension at 140 - 143 (red arrow). Which means that even if LITE were to remain permanently confined to the lower halfs of it's two rising channels, that 143 mark would be reached less than 10 months from now, for a cool 70% gain.
I'm definitively sticking with this one.
Full disclosure: currently long LITE at 0.9% of total assets with no stop. I may increase exposure on a backtest-and-bounce off falling triangle resistance, which still hasn't happened (and maybe won't).
Lumentum Hldngs $LITE$LITE was on move yesterday and may attack upward. watch for break outs. It is safe to be long when it gets above $80.18
12 months Consensus Price Target: $90.44
if you find my charts useful, please leave me "like" or "comment".
Please don't trade according to the ideas, rely on your own knowledge.
Thx
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What I see...
+ Prices found Support from 200MA
+ Bullish reversal bar formed with healthy volume
+ Past Bullish Kicker candles implied a few days for bullish burst
+ 10MA still above 50MA
- RSI is in bearish territory
- MACD is also under signal line and in bearish territory
- High volatility prices; require tight Stop!
- Widening of Bollinger Band
- Slight upper shadow from today's bar
What I setup
+ Long entry above today's high
- Stop under Friday's Close
+Target is at the downward sloping trendline
:: Duration is 2-4 days
