1STX trade ideas
STX shortFailed to fill the 33.82 gap with strong rejection followed by bear flag formation and RSI divergence.
End of the week reportSatisfied with the week - our prediction: 3-1-3 (win-loss-neutral) with a w/(w+l) = 75% for $nasdaq
See previous tweets of the week.
Seagate Tech falling knifeFalling knife. Tanked from almost $70 now down to $19.
Joining the bottoms from 2009 and 2011's low we could be sat on potential support at current level (note 18.50 the 2011 high)
A whole bunch of gaps to fill above 19.75, 21.35, 26.50, 33.77, 47.57
Keeping an eye out for a bounce to try to catch the knife !!!
RRR of +2: 10% win vs 5% potential loss on STX- After trying to establish a new downtrend the plunge stops on point " 1 ".
- From there we went back into the trading range " a/b " and tested the upper line.
- From there we went back to the supportlin " b " (potential axisline).
- Here we formed out a SPRING . It it likely that the price moves back to the upper side of the trading range.
- Today bar is also an ODR (One Day Rerversal)
STX set for a reversalWe are seeing a 5/15EMA cross occurring after the last session and would be interested in a potential bought call in this stock should we also see a last hour move above $16. the underlying could move quickly towards the $38 dollar mark if we see some buying pressure come in.
STX(Daily). Head and Shoulders top. (Retest) Head and Shoulders Top Pattern, Retested NeckLine.
Within DownTrend Channel, 100 sma resistance.
OBV at resistance.
VS S&P 500 breakDown, with bearish confirmation from 50- 200 sma.
STXH&S top and perhaps a rounding top as well. If price is breaking down from a Bear Pennant, much lower.
STXNo edge for me here. Even though Stoch and MACD are curling up, they could easily be doing do to allow room to the downside. For me, it's a box consolidation.
STX : Seagate Technology.Everything is diverging and the company seems to always go higher even with bad fundamentals. For me this was a bull trap.
STX sitting on support.STX sitting on support, and major trendline. IF broken, next support is around 40.
