The announcement of #Binance incurring a substantial $4.3 billion penalty and facing exclusion from the U.S. market likely came as incredibly favorable news to Brian Armstrong, the CEO of #Coinbase . This development seems to place Coinbase (COIN) in a notably advantageous position. Observing the stock's technical chart, there is an apparent near-completion of an...
The stock of Amazon.com, Inc. ( NASDAQ:AMZN ) is currently exhibiting an inverse head and shoulders pattern, a noteworthy development in technical analysis that often signals a potential bullish reversal. For this pattern to be confirmed, it is essential for NASDAQ:AMZN to achieve and sustain a weekly close above the neckline of this formation.
--- ### Market Analysis: TVC:US10Y Nears Crucial Pivot Point #### Critical Juncture for the U.S. 10-Year Treasury Yield The U.S. 10-Year Treasury Yield ( TVC:US10Y ) is currently at a pivotal position that could significantly influence market sentiment. This important pivot point is marked by a specific blue line on the chart, serving as a key indicator for...
The AMEX:GDX , a notable gold miners ETF, is currently displaying a Bull Flag formation, indicating a potential breakout on the horizon. My perspective remains that we are on the cusp of a significant breakout, one that could not only impact the gold market substantially but also trigger an even larger movement in mining stocks. Admittedly, I've held this view...
NASDAQ:SOFI is currently testing its Pivot Top from May 1st, 2023, marked by a green arrow. For bullish momentum to be sustained, Sofi must remain above the designated purple line. However, if it closes below this level and sustains that position with a weekly close, it would indicate that bearish forces have taken control.
### Stock Market Update: ARK Innovation ETF ( AMEX:ARKK ) Approaches Critical Double Top #### Key Technical Level for AMEX:ARKK The ARK Innovation ETF ( AMEX:ARKK ) has reached a pivotal point on its chart, forming a Double Top pattern at $45.16. This pattern is a crucial indicator in technical analysis, often signaling a potential turning point in the...
AMEX:SDS is showing a Double Bottom pattern, making it an excellent hedge against any long positions you might hold. It is recommended for swing trading purposes and not as a long-term investment strategy.
Understanding the Double Top Pierce in NASDAQ:EXPE 1. **Double Top Formation**: Typically, a double top pattern is identified by two consecutive peaks at approximately the same price level, signaling a potential bearish reversal. It indicates that the stock tried to surpass a high price point twice but faced resistance. 2. **Piercing the Top**: In the case of...
Your analysis of NYSE:GPS (Gap Inc.) highlights a nuanced approach to trading based on technical patterns and clearly defined risk management strategies. Let's break down the key elements of your strategy: 1. **Bottoming Pattern with Bullish to Bearish Reversal**: Initially, Gap Inc. exhibited a bottoming pattern, which usually indicates the potential end of a...
NASDAQ:ROST Breaks Double Top Now What? Waiting for a pull back to (alert added) 122.70 and will take a small long position, a close below that price and I stop out on a weekly basis. Only way to manage a trade is to be in a trade.
--- ### Stock Analysis Update: Alibaba ( NYSE:BABA ) Approaching Double Bottom on Weekly Chart #### Potential Double Bottom Formation for Alibaba Investors tracking Alibaba Group Holding Limited ( NYSE:BABA ) should take note of a significant pattern forming on its weekly chart. The stock is approaching what appears to be a double bottom, a key technical...
Double Top Pierce: The term "Double Top" refers to a technical analysis chart pattern characterized by two consecutive peaks at approximately the same price level, indicating a potential bearish reversal. The term "Pierce" in this context could imply that the price has briefly moved above the second top but failed to sustain that level, reinforcing the bearish...
NYSE:IBM is approaching a potential Double Top formation, and we plan to set an alert on the chart to initiate a short position once it reaches $151.93. At this level, watch for a possible pierce or consider shorting. Set a stop-out if there is a close above this level for more than three days. If you currently hold a long position, it may be prudent to take profits.
The current technical analysis of Apple Inc. ( NASDAQ:AAPL ) suggests the stock has undergone a 'Double Top Pierce.' This pattern is significant in technical trading as it could indicate a potential bullish reversal if confirmed. Now, for this pattern to be validated, NASDAQ:AAPL needs to establish itself above the double top line, which in turn becomes a...
In the case of Target Corporation ( NYSE:TGT ), the consideration of whether to rely on Fibonacci support levels or to wait for a potential double bottom formation around $90.17 involves a strategic decision based on technical analysis principles. ### Fibonacci Support Level - **Fibonacci Retracement**: This tool is used to identify potential support levels...
NASDAQ:META Double Top Pierce and closed below the resistance line. Bulls need a close above resistance line in orange for a couple of days or maybe a week, and the bears need not breakout above resistance line.
A pull back to the orange line will be my buying opportunity, break below and confirm stop out. The mention of a "Bull Flag breakout" in relation to NASDAQ:AVGO (Broadcom Inc.) suggests a specific pattern in technical analysis that indicates potential bullish momentum. Here's a breakdown of what this means: 1. **Bull Flag Pattern**: This is a continuation...
The NASDAQ:TLT , or the 20 Year Treasury Bond ETF, appears to be undergoing a significant shift in its trend dynamics based on your description. Here's a breakdown of what you're observing: 1. **Bearish to Bullish Reversal**: This indicates that the ETF, which was previously in a downtrend (bearish phase), is showing signs of reversing to an uptrend (bullish...