MichaelMF

MichaelMF

S&P broke out of triangle. Stoch and RSI out of down trend. Expecting more upside tomorrow. 2953 potential resistance (upper red horizontal line). Tuesday or Wednesday we could see it hit and back down. Bullish for the next day or 2, if it breaks that 2953 then I won't be bearish quite so soon lol

MichaelMF

RSI overbought territory. Redline on stoch has been a very prominent turning point for ADUS. The last 2 were drops from around 2-6 dollars within a few days. Hasn't hit the line yet but still a good watch. Also watching Distribution to see if it drops below the blue line which has held since January. Waiting to see if this in a channel play, the ascending wedge or...

MichaelMF Updated 

Currently sitting just below resistance (blue line at $60.21) with 2 gaps needing filled below. Deep red ($56.45) is sitting right on support if the gap support gives. Bright red ($52.04) would be ultimate short to gap fill at almost $8 down from current. But with Puts currently at $33 for a $60 strike. Overbought on RSI, Accum/Dist showing some dist occurring...

MichaelMF

Bid is up massively due to news a while back of a potential buyout. It's been in this range for a week or 2. It's looking like it could fat tail in either direction. Going back to 2016 was the most recent that Accumulation was around 170M I'm watching for a drop into distribution on this with alerts on either side of the BB. Potential large move coming, just can't...

MichaelMF

Pure speculation. Do not take this as advice. On my previous post on gold, I mentioned about the resistance on momentum. It was cracked and we've now found a resistance area around the black line going back to 2016. Looking like an ascending wedge formed here. Most recent S/R around $1425. Could potentially find some support either at $1425 range or could find...

MichaelMF Updated 

Could be a breakout on... Water lol. Waiting for confirmation, but if tomorrow stays green, we could see retest of top of channel. Otherwise we could see a move to the downside which is probably needed. Will insert weekly view that the lines have been drawn off of.

MichaelMF

Divergences on the daily looking bearish. Support at 27.50ish has so far given us today's green candle. Could possibly see a gap fill of the 23.77 that wasn't filled since May of last year. Blue/Gold channel descending wedge could still be in play with a fake out yesterday. This could drag CGC down to the 23 range for gap fill over the next month or 2. Then could...

MichaelMF

Thank Gawd for support lol 19 cents before EOY to hit support at 19 and change. Just my personal opinion I'm probably wrong but it's XRP soooo

MichaelMF

Interesting to see how this plays out. Probably a move upward once more bad economic news comes out.

MichaelMF Updated 

This will end well. stockcharts.com Watching for inversion and the the back to normal like it has in the drops in 00-01 and 08-09

MichaelMF

Channel on daily since about June 11 with a fake out to the down side. Potential Triangles forming (I'd like AT LEAST one more contact point on both the Purple and the Black to confirm triangle form, but it has potential. Right around where the Upper P/B triangle trend lines are has been weak the last 2 days. RSI is overbought and has been for a while. If these...

MichaelMF Updated 

Cheap $56 7/26 puts. Lower time frames show weakness. It's been coasting and is slightly overbought. Potential channel that could lead to a low of around $54 with solid moves the next week or 2. Potential wedge squeezing the buyers to turn em into sellers within this channel. My bags are packed on this one. ready for it to give up.

MichaelMF

Daily is hitting upper part of what appears to be a broadening formation again. 4hr MACD crossed over, while stoch is in overbought territory and has been the last few periods. Low price on the 19th puts at 125 strike. With the exception of them pumping everything with trade deal bull, could see 125 minimum. Picked up puts at around $0.30 each.

MichaelMF

Waiting a few days to catch some cheaper plays, but I like this set up. Overbought. MACD starting to turn. Hourly and 2 hour losing steam and kinda flat. Once those go green for a bit I'm going to prob be looking at the $155 or $160 for July 19. Should be an easy play if all goes according to plan. P/E is at 38. Can't forget about the beautiful bearish engulfing...

MichaelMF Updated 

RSI is definitely overbought. This COULD lead to a PERFECTLY set up cup and handle right before earnings to pump this up. Earnings is on July 29. More than enough time to fill out the Cup, and form a handle for an explosive move up before earnings. We are at the top BB so it could be a week or 2 before hitting the top to see if a handle forms, if AMGEN goes...

MichaelMF

July Puts are like $0.80 for $3 difference in strike. This thing is SO overbought. MACD is weak on all time frames that I looked at. (1D, 1H, 2H, 4H) Ascending wedge. Stoch ready for a flip at ANY time. MACD ready to go at any time. RSI exhausted. This should be fun lol Targeting $95-98 (98 from the top of the wedge would be around .382 retracement, 97ish from...

MichaelMF

Overbought on RSI. Stoch looking to potentially give us the heads up on a downturn in the next day or 2. There's NO accumulation going on. Fat tail looking to give it all back. MACD Strong as can be, but the rest of the indicators lead me to believe this will be a decent short. It's only up on a golden cross and a strong earnings. www.investopedia.com Expected...

MichaelMF

I thought I put this yesterday but oh well. Potential support at 1321 probably will go lower down towards around 1306. The trend line started in Oct 2018. Has not broken once. Gold is overbought. PTJ and Gundlach bought it into overbought lol. MACD is looking pretty good for a flip on daily. On weekly the Upper BB is being tested. This could ALL change with a...