MichaelMF

MichaelMF

This thing is ridiculous. "Shopify has a trailing-twelve-months P/E of 800.37X compared to the Internet - Services industry's P/E of 28.45X." www.zacks.com When things get back to normal this will tank. 500's again easy. This bloated quickly and will drop like an elevator that no longer has cables. No Idea if this is the start of the drop yet. Just watching...

MichaelMF

Looking like a rising wedge. Thinking we'll probably gap up tomorrow above the wedge and close down back into the wedge (Friday- Probably won't see the PPT stepping in too much). If we don't see much movement in the next half hour we've got 3 dojis in a row, went back and April 2019 was the last time I saw this on QQQ (consecutive doji to spinning tops, unless I...

MichaelMF

Thinking this thing will crash hard before eod. We've got severely overbought on 5 and 15 min (around 85 and 80 respectively) 30 min crossing into severely overbought. watching and holding my puts.

MichaelMF Updated 

QQQ is sitting just shy of resistance at 216ish. Up AH rn on Goog pumping. If It can't break this 216 (in purple, expect to see a drop back down. This will all depend on how tech is received and if Goog keeps pumping tomorrow. $187 could offer some support if we tank going back a ways. Also watching that RSI at 62.14 to see if it offers resistance. Not advice...

MichaelMF

NY just banned gatherings of 500 or more. Knicks games, concerts, they're all done for the foreseeable future. With the exception of possibly any events of 500 or less ppl (more than likely including staff)

MichaelMF Updated 

If not, it will fail to break the resistance on a trend line that has held for months. The only breaks of this trend were for a few hours 2 times around the 2nd and 9th of October and now. This is about the 4th retest since the 3rd at the 12:30 candle on hourly which followed a fake break out. We just had a fake break out yesterday as well. Previous fake breakout...

MichaelMF

Looks to be taking shape on the hourly. Current range around 108-115. Obviously range will continue to get tighter until break out. MACD looking weaker on hourly, but thinking we'll see it strengthen up again like prior to stay green a bit longer until 115 is reached. RSI also trending upwards along with A/D.

MichaelMF Updated 

Was just taking a look at the rate and noticed the EMA. 200 EMA is currently at 1.71 with the 10 day at 1.86. Black horizontal lines are approximate time when 10 day crossed below 200 day. Purple are the listed start of a recession. Just found this interesting and especially since it's on 15 bp away from crossing to the downside again. You'll also notice that...

MichaelMF Updated 

With the exception of any possible bad FA related stuff between now and tmrw or this corona trash... Thinking we could see some upward movement on FB up to moving out of the triangle. Coming out of oversold territory on RSI, MACD ready to turn green on hourly. Once confirmed I'll be looking at a PT of 215-217ish until a break out can be confirmed. MACD hourly...

MichaelMF

Grabbed a few March Calls before close today. Thinking we'll see a breakout today. With current A/H pricing we could break out upon open. RSI bearish divergence and weekly/monthly resistance could hurt break out, but still thinking we'll at least revisit $8 pretty soon. Not advice.

MichaelMF

Expecting return to trend on some or combo of all- RSI MACD and A/D. Moon shot like TSLA and SPCE. needs a lil pull back before it gets TOO insane. Crossing previous High on MACD could give it room for MACD to run longer. Could drop tomorrow, could drop in March or April. either way, it'll drop. Personally think this could be it though, broke through ATH and got...

MichaelMF

Thinking BABA will drop a bit to find support on RSI at either 46 or so or around 38. Around 44-48 has offered pretty good support/resistance in the past. AD Line is a little off of trend and has been for a few sessions. Thinking we'll see a return to trend over the next few days or so and then more gains. Symmetrical Triangle that started after the drop from...

MichaelMF

RSI 85.51 has on hourly been a pretty good resistance point. Will probably hop a little above that before dropping back down like last time. I don't know that I'd expect to hit $19 support but I do expect a drop. All gaps that I've seen have been filled as well. This stock is all momentum. Built off of Space X's accomplishments. I would like to point out a few...

MichaelMF Updated 

Lines drawn represent the top wick of the high before the Drop at the end of 2018. Lower line represents possible resistance from that same time period based on top of full body candles and multiple rejections from that price point. If BABA continues to fall, one of these could provide the support need to prevent any further drops. A worsening coronavirus could...

MichaelMF Updated 

PT to $400 on 5G. From seekingalpha. Dan "Ives cites checks with iPhone Suppliers that implied customers want to buy." "Calls the AirPods demand 'Jaw dropping' and expects upbeat earnings and guidance". -Brandy Betz SA editor Read in full below: seekingalpha.com Most of us probably figured the upbeat earnings and guidance part lol. More bullishness leading...

MichaelMF

Is running out of room. Support has been steady but very soon RSI will be bouncing in overbought territory if it keeps moving with it. Drop out has to come at some point soon.

MichaelMF

This I'm expecting short term a pump to around 162-164 range then a drop after hitting support. Earnings could prove hard for FDX. Amazon announced not allowing third party vendors to use FDX for prime shipping on December 16th. They reallowed it around Jan 16th. 31 days leading up to and following Christmas. Leading up, all those sales not shipped through them,...

MichaelMF

Black circle. Slightly oversold RSI. MACD looking up. Breakout of divergences could happen monday, or break downward. Not advice.