DavideG

DavideG

Trump's inauguration is a few days away, and there's no shortage of speculation as to what this could mean for crypto. Sharing a few of my current thoughts below on potential policies, and what cryptocurrency attributes are most likely to benefit from this cycle. There's been a lot of talk of strategic reserves, but it seems likely priced in and/or overhyped....

DavideG

Dogecoin's peak at @ $0.088 on Jan 29th and retracement over the past four days resembles Bitcoin's rapid decline following it's December 2017 peak. The difference... BTC's slump extended over the course of a year Blue line = BTC daily price pattern (Dec 2017 - Dec 2018) Candlesticks = Dogecoin 60 minute intervals If Dogecoin follows through with the BTC price...

DavideG

Retested 2015-2016 support level @ $69-75 on declining volume, with a H&S breakdown on the hourly 9/15/2020 - 8:52PM EST

DavideG

With a market capitalization of $1.27 trillion, declining revenues/margins year-over-year, share appreciation of 67% since June 2019 and 100% since early-Jan 2019, AAPL has reached stretched valuations. • Trailing P/E ratio is 23.70, the highest level since June 2008 • Revenue growth is down 2% YoY • Earnings growth is down 9.8% YoY • Dividend yield is 1.1%, the...

DavideG

Since Sep 2018, SPY’s 28-Day RSI has met resistance at the 63-66 zone, with prices subsequently pulling back between 6% and 20% in the past three occurrences, before continuing to trend higher. Sep 20, 2018 Peak – 20% decline over 66 trading days Apr 30, 2019 Peak – 7% decline over 23 trading days Jul 29, 2019 Peak – 6% decline over 20 trading days In each...

DavideG

Using a similar trade setup from an October post, which resulted in gains of 155% within 10 days. Since returning to it's 52 week low in min-November, CVS has rallied back into the ~$100 area. Its current rally has lasted 21 trading sessions, nearly identical to the length of the 20-day October rebound. It now faces several significant points of resistance: 1)...

DavideG

Took a position in DAL a couple weeks ago on 11/24/15 – 11:34am EST @ $47/share, as the stock took a hit following news that the State Department issued a global travel warning in the wake of the attacks in Paris and lockdown in Brussels. According to the press release on 11/23/15, the travel alert will run until February as the Islamic State and "other terrorist...

DavideG

CVS facing strong resistance @ $104.25. S&P also facing resistance @ $2044, and last trading @ $2036.2 Expect at least a short term reversal. Picked up some Dec '15 CVS puts @ $1.84/contract to take advantage of this trade and manage current market risk. CVS shares were last trading @ $104.01. First target ~$100. 10/20/15 - 11:38am EST

DavideG

GPRO is down 54% since the beginning of October. It has consolidated in a downward wedge and is now sitting on significant support - retesting the price where it first reported earnings in August 2014 & its .236 Fibbonaci retracement, while nudged against TL support. RSI shows a bullish divergence since mid-December and is forming a rounding pattern. High...

DavideG

FB has surged 230% since mid-2013, but it looks like buyers are now losing their appetite. Long-term TL broken in mid-January, and rejected on the back test earlier this week. Trend is supported by a long-term RSI divergence, which has consolidated in a wedge and is now breaking to the downside. As illustrated, rally since Apr '14 has also occurred on low volume....

DavideG

Within the last week, GMCR has broken two important TL supports (the primary of which is the channel it has been trading within since Nov 2013). Additionally, the 9 EMA has crossed the 20 MA, faces strong RSI resistance on the backtest of its TL, a shooting star is forming on the daily and a possible head and shoulders in formation. Would take this trade,...

DavideG

BTU is down 10% today, following a ~5% slide in WTI, pushing the U.S. crude benchmark to $50, and a 6% decline in Brent, which is down to $53. With today's drop, BTU has fallen 65% since the beginning of 2014. I like the odds of a rally here, with BTU's extremely oversold levels, nearby TL support, bullish RSI divergence since October and the psychological...

DavideG

FSLR is down 40% since mid-September. Expecting a short-term rally in January; recently broke out of a downward wedge and RSI shows a bullish divergence since mid-October. Has traded within a $45.5-$43.5 range for the last two weeks. Attractive risk/reward entry point, with shares trading at ~$44. Note how effective the RSI trend line (blue) has been as an entry...

DavideG

Signals suggest INVN is staged for a rebound. With yesterday's 8% move upwards, INVN has broken out of a descending triangle and above the psychological level of $15, that it failed to breach over the previous four trading sessions. The 9EMA crossed the 20MA and the RSI is rising from a rounding bottom, one of my favorite patterns. Entry at $15.15. First target is...

DavideG

IWM has had a nice run since bottoming on October 13th, rising more than 13% in the last month. Expecting IWM to run out of steam here, however. Possible double top, declining volume and once again faces significant resistance at the upper RSI trend line, which has been intact for nearly 2 years. As highlighted, IWM fell 11% and 8.5% when last hitting this line....

DavideG

Republishing older chart with some new annotations. Same short signal as the last two charts posted (both hit their targets). Once again faces significant resistance at the 63 RSI level. As highlighted, LVS has bounced off that level 7 times since April, and trended lower each time. Significant gap & TL resistance also above. Entry at $64.45, targeting $62.25 and...

DavideG

SCTY is down 29% from its recent high set on August 8th. With the latest move down, shares are nudged against its long-term trend line support, which has been intact since its IPO. Movement in RSI also suggests SCTY should find support here - having returned to its all-time low and support level of 38. Entry at $56.55 - looking for at least a short-term...

DavideG

WFM is down 40% from its 52wk high set in October 2013. With today's latest move up, shares are breaking out of an ascending triangle. Movement in the RSI also suggests a breakout, rising above the key resistance level of 47 for the first time since mid-March. Targeting $42. 8.27.14 - 10:14am EST - $38.97 last