DailyChartist

DailyChartist

Thinking about which financial instrument to add to your portfolio is always a challenging task, especially in a market where almost everything is overbought. You may already own these three stocks, but if you don't they have good technicals and fundamentals to get in or to add up. Starting first with the Ferrari. At first, sounds like an exotic stock, but the...

DailyChartist

Friday we saw big activity in volumes and the price pushed below the internal support line. With the two cases currently we are taking the path of the bearish one. On Thursday we've closed in a pinbar which was an additional price action confirmation that we are heading into a reversal. If the current conditions remain I would expect for the price to fall down...

DailyChartist

We are moving into a more and more tight price action as we are in the end of the wedge now and with the rise of volumes we see some heighten activity in trading. RSI and MACD divergence are still showing divergence with the price and RSI is almost below 50. MACD has a bearish crossing and the histogram is going negative. Two possible scenarios are forming now....

DailyChartist

Another update on PFE. Price has stalled for some time now around the internal support. We have a divergence with RSI and the price and RSI is starting to move above 50. MACD is making a bullish crossing and the histogram is going positive as well. Volumes are showing buying activity and we have a potential setup for a double bottom. Keep an eye on PFE.

DailyChartist

My bearish view for Bank of America is almost confirmed. All is left is a move below $30.59 zone. RSI and MACD are flashing red and point for a continuation of the selling. Volumes are descending as activity is slowing down resent days. Since the bad earnings, the bank is under pressure from investors, but still the downtrend is not entirely confirmed. Given the...

DailyChartist

The ETF's recovery is starting to show its first cracks as we have dropped from Yesterday's highs and closed without an attempt to buy the dip. Volumes were the around the average for the day and the fall could be mostly a result from long covering. But there are some technicals that suggest we may return back inside the range. RSI and MACD have bearish crossovers...

DailyChartist

Presenting you with this chart with two possible, potential, psychological scenarios, bullish and a bearish one. It's a question so please whoever is open to a discussion layout your views and thoughts. :)

DailyChartist

Making a different kind of post here as we had a really impressive week especially for a couple of stocks that caught the eye. First starting with Luminar Technologies $LAZR. For some time this stock has been on the radar of investors and traders and there is a reason. Not only promising perspectives for the company but the presence of a symmetrical triangle....

DailyChartist

Taking a look back at XLE we can see that the ETF has returned to test the area of breach of the symmetrical triangle (or the current support of the descending trend line). Pick up in volume shows that the activity has risen and market participants are getting excited. A breach was made a classical follow-up test was made. Currently, we are sitting at the support...

DailyChartist

In my previous post, I've mentioned that there is a correction coming for Twitter and that was catalyzed after the social platform banned Trump's account. Price has landed perfectly on the uptrend major support and formed yesterday a nicely looking pinbar. RIS has turned from oversold zone and if you are more aggressive current price is tempting enough to enter...

DailyChartist

It took some time for Boeing to break out of its bullish wedge, but the support held well, and we see some more stubborn attempts from buyers to push the price up. RSI is rising above 50, MACD has crossed over and the histogram is moving slowly towards positive territory. Earnings are after 7 days. so keep that in mind. An impulse above $216 will confirm the...

DailyChartist

Today we saw the earnings report for Bank of America and it did not meet the investor's expectations. So far the earnings season (for the banks) starts a bit off. The EPS came above expectations at 0.59 versus 0.54 expected. Revenue though came in with a miss - 20.1B against 20.56B expected. The main cause for the miss cited is the COVID-19 pandemic. RSI is...

DailyChartist

Holidays are over and it is time to get back into the markets, refreshed and with new strength. I am making another revision of Disney as the price on Friday closed at the internal trend support and played out the small bearish flag. Volumes were higher than Thursday as there were 12.23M shares traded against 8.951M shares on the day before Friday. The activity...

DailyChartist

GDX's downtrend has cast a shadow over gold's price and last week we saw a determined continuation of the downtrend for the Vaneck ETF. The ETF's price broke through the support with an average volume of 26.52M for Friday's trading session and buyers made no attempt to by the dip. We've closed with full-body under the support and below the $36 level. In the days...

DailyChartist

Update from a previous post: XLE developing nicely as the price has managed the get out of the range and yesterday we opened with a gap and there almost no attempt to push the price down and to fill the small gap. MACD's crossing is widening and the histogram is expanding as well. RSI moving to the overbought zone, but there is some more room for additional...

DailyChartist

In my previous post, I've mentioned that Disney is dangerously high and that technicals are screaming for a correction. Some time has past and the price is still stalled around the highs. RSI has already dipped quite below the 70 line and MACD's crossover is spreading wider. The histogram is increasing as well. We have a small subdued bearish flag (the figure...

DailyChartist

In addition to the portfolio long on Pfizer will be added as the session starts. Double doji candles and MACD crossover and RSI is rising above 50 are enough as confirmation. I've been tracking PFE since the end of December and now an opportunity to buy stocks of the company has revealed. My target is $44 - $44.80.

DailyChartist

One of the most commong chart patterns is the flag and it can be a bullish or a bearish depending on the direction it is formed. Usually they are trend - confirming patterns and are occuring after a strong impulse of buying or selling activity, some brief consolidation, and then the price continues in the same direction as the first impulse. The target of the...