The market has taken a complete beating this past week, I believe a recession is here. The DOW JONES has just met support on the weekly chart dating from Jan 2017. This is now the 5th test of this support, making it a stronger pattern and more likely to break further to the downside. Once it breaks support, it will then meet its next support at the 23500 level,...
PYPL is showing bearish signals on daily and weekly charts. On the daily it is showing a bearish engulfing of the enlarged red candle covering the complete previous day green candle. On the weekly it is now showing pullback signals to the short side. I expect the to drop to roughly the $79 level where last previous support was.
AKAM on the daily chart has formed a bullish harmani, complimented with extremely oversold stochastics and a crossover of the lower Bollinger band, which is signaling a potential reversal to the upside. Based on the range I expect a target of $74-$76
Boeing on the daily chart had a good 4 day run, now its over extended and crossed the upper Bollinger Band. It is extremely overbought as well with over 90 stochastics. You can expect a retracement of 3-5% back to its moving average. A vertical put spread over the next 2 weeks could generate some solid profit.
PYPL on the daily chart has had 5 consecutive red days, it's last red day was into support of the channel. Stochastics is extremely oversold at 10 and the lower Bollinger band has been crossed. 4-5 consecutive down days, final day into support, extremely oversold, lower Bollinger band crossed = REVERSAL for rubberband snapback to the top resistance of around $94.
TIRAY has been a traders dream lately. Looking on the daily chart, you notice at the top of the chart there was a huge Red DOJI candlestick signaling a reversal in the chart after an over extension in the stock price. We have since witnessed four consecutive red days, with the fourth day also closing into support with another doji star signaling consolidation in...
Looking at the daily chart, you can see bitcoin is approaching a key level of $7550. If it breaks out of this level we can expect the bulls to be back in control with significant upside to towards the $8500 and $10,000 levels. This is a key resistance from January 2018. So breaking out of that will have significant momentum and upside potential.
NFLX broke out of resistance and is coming up on a gap, the will be closed when it reaches $391. Taking a vertical call spread option for the quick 3.5% potential rise in price.
MPC is looking to breakout to new highs on the daily and weekly charts from the wedge formation. Also has completed an inverse head and shoulders pattern. Looking to continue upward toward the $92 mark, with a stop loss at $83.50
Raytheon on the weekly chart just broke out of ascending triangle with a bullish engulfing pattern. The MACD is looking good on a crossover as well. Looking for a short term call option play to $211-212. The 9EMA is curling nicely up under the candles as well, with no unpward resistance until the $211 mark. I'll stop out at $202 to keep risk tight since its a...
