FTNT just got annihilated on earnings, the stock is simply overvalued and does not see enough earnings. I am playing this spot only, options are pretty tough to trade on this heavily manipulated stock. This reminds me of the RTX manipulation congress and friends handled into the war.
SPY back above 50SMA and to prior supportive area. The index is also above the prior demand as well, looking to gain steam on positive earnings for the mega caps and many tech stocks.
RNDR had a healthy and expected correction right into local demand. The token is back above the 50 SMA and looking to either consolidate or make another run upward. The dashed green it just passed is a prior double top and area of interest as well.
DXY is testing the downside range of the channel it has been in for months. This is the second test and it did bounce off the 50 SMA but looks to possibly be ready to fall through that supportive region.
BTC had a really strong rejection with that large wicked red candle. The RSI is fading with a consolidation. I might have to update the potential pattern if it doesnt break up or down soon. This candle is a bad sign for bulls but we could get bullish news any day now with looming ETF among other things.
NVO is consolidating above the dashed green line which is good news for the bulls. New all time highs are on the horizon. Many have a hard time buying into 52 week highs, but the best compounders spend a lot of their time in this range, that is the nature of successful stocks and companies. I added a local demand that is the green box as a supportive region.
This is one of the stronger sectors in the market right now with war fears. This call setup played out a lot better than FTNT for the short-term. Gap one is almost completely filled for a nice 17% gain on spot. I am preparing for the Gap 2 setup. 83$ needs to become a supportive area for this to playout.
Hammond tends to peak RSI around 85 and that area is marked with the dashed green line. This stock has extreme momentum on very strong financial performance. The stock also recently broke a key 500 million dollar market cap. A medium term downtrend was broken as well showing strength both medium and long-term. I do expect the RSI to come down soon but that does...
THe 4 hour time frame is my favorite for swing trading. MATIC is a long-term position for me I have it staked on Ethereum but I keep some on polygon to swing trade into alts like PYR and some others. That long wicked red candle appears to be the 4 hour demand zone and its good to see the token bounce on both the trend and demand. RSI is holding up if it loses...
RNDR setting up to correct heavily for the next leg up. With BTC cooling off briefly and equities continuing to bleed it makes sense for altcoins to correct here. I believe this is the area of demand for RNDR and we should find strong support within this region. The dashed green is the local high.
QQQ has displayed heavy weakness as investors take profit from the magnificent 7 and others. The first demand zone saw a weekly candle strike right through the weak orderbook. The next large demand zone is the bar noted below. I don't believe this will happen quickly, it might not happen for a long time. I believe QQQ strives to be back above the higher demand for...
ES sees a very text book dip into demand on the weekly chart. This area is acting as a perfect level of support for the time being. The uptrend has broken down and economic conditions will decide if this area holds. The green dashed line is where we would be headed to next if this demand doesnt hold.
AVUV is my preferred long-term small cap value holding. On the weekly there is a rather large demand zone and that wicks have been dipping into. This is a decent dca zone for long-term minded investors.
SP500 bounced right off demand almost immediately on the weekly. The basic trend trajectory is broken. There are a lot of buy orders at the demand region so this should hold for a while.
Hammond is a thesis I am very excited about, I should write a full article on it. This companies earnings just blew expectations out of the water. The sideways channel is broken and the company is cleared to hit a 1 billion dollar plus market cap which will garner attention. If this stock gets listed on NYSE I will be very amped about it.
Link has bearish divergence on the 4 hour chart but is still printing an ascending triangle after a previous bull flag break and uptrend that broke long-term resistance. I personally wouldnt be adding here as I am already positioned for long-term spot, but I am neutral on this setup. Slightly favoring the bulls with ETF news looming and crypto heating up in general.
With RSI rising and price falling we have clear bullish divergence. FTNT is taking another attempt at the medium term resistance of the teal line. The candles are also flirting with the 20SMA which is needed to confirm a bullish posture. This narrowing volatility should oscillate back to a wide pattern if RSI continues. My call setups are for 65$ ish. 59$ is first...
Riot has been gaining steam but remains at a steep discount on the Bitcoin ratio. I entered calls around 8$ on the bounce and have held strong for the hopeful rally this week. RSI is picking up steam and looks to be assisting with the upward pressure nicely. Teal or green resistance needs to be taken next, my price target is still 13.8$ for coming weeks.