PrepForProfit

PrepForProfit

After a large drop over the weekend Bitcoin is holding above the 50% Fibonacci retracement level which is drawn from the July 20 low near $29,500(100% Fib) to the Nov 10 high at $69,000(0% Fib). This level is acting as decent support for now, but we have yet to see any eager buyers of size step in and push price back up into the blue uptrend channel, and above...

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Trulieve lost -$2.79(-5%) on the day with a closing price of $50.96/share. Price saw an 11% swing from high to low today(candle wick to candle wick) with price closing in the upper 50% of the day's trading range. Short-term support can be watched for at the $47.90 level which was the low for the day. A hold above that low is critical going into the end of the...

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Trulieve lost -$2.79(-5%) on the day with a closing price of $50.96/share. Price saw an 11% swing from high to low today(candle wick to candle wick) with price closing in the upper 50% of the day's trading range. Short-term support can be watched for at the $47.90 level which was the low for the day. A hold above that low is critical going into the end of the...

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Gold price has created a descending parallel channel on the chart, and since it occurred after a significant move up it is more commonly referred to as a ‘bull flag’ due to the overall structure of the move resembling that of a pole and flag. The anticipated move here if price can remain inside of the upper half of the bull flag is a continued move higher and a...

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MedMen(MMNFF) has formed a Wyckoff Accumulation Pattern and is currently creating a potential ‘last point of support’ pattern in Phase C after a recent ‘spring’ and ‘test’ of the spring. Price is currently below a resistance level(red) at .22c which stems from a price peak made in September of 2020 and then again in December of 2020. Price must move above the...

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Aurora Cannabis(ACB) has formed a Wyckoff Accumulation Pattern and is currently in the ‘build up’ cycle of Phase D aftering having successfully created a ‘spring’, a ‘test’ of the spring and a ‘last point of support’. Price is currently testing the top ‘support line’ which is currently acting as resistance and stems from the ‘automatic rally’ seen back in March...

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The daily chart of the S&P500 shows price in an uptrend channel while currently trending in the lower half of the channel which is the weaker half of the channel where price is most susceptible to declines. For now the price candles remain green on the daily chart which indicate bullish momentum behind price. Most obvious on the chart right now is a bearish...

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The S&P 500 Index(SPX) closed Friday at $3,768.26, down -56pts(-1.5%) on the week. Price marked its 8th weekly close above the upper line of the yellow broadening wedge pattern which for now indicates a successful breakout from the consolidation pattern. After hesitating just below the 127% Fibonacci extension(based on the 18Feb2020 high and the 23Mar2020 low...

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There has been a noticeable shift in cannabis stock sentiment over the past 2-3 weeks and some of the top market cap charts that had been forming bottoming/basing patterns recently are now showing breakouts, or are on the verge of attempting a breakout. BellRock Brands is one of the lower market cap cannabis stocks that looks to be on the verge of a breakout...

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Gold price #xauusd is attempting to break above the upper line of the downtrend channel which would be a bull flag breakout, and the expected result of the bull flag pattern. The next resistance level stems from the local high made in early November at $1,966/oz. The stop-loss level stems from the local low made in early December at $1,763/oz. A break above the...

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Silver has broken above the downtrend line that formed after price peaked at $30/oz back in August. This breakout comes on the heels of a double bottom pattern that formed in the $21-$22/oz area from Sep-Nov which combined with the trendline breakout indicate that traders are likely going to take price back up to test the $30/oz level again. The current price...

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Bitcoin has reached the first significant fib extension level when measured from the previous all-time high of $19,891 made in December 2017 to the December 2018 low of $3128. Price is now testing the 127% fib extension after setting a new all-time high in price at $24,200 this morning, with the 127% fib extension resting at $24,451 and currently acting as price...

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After testing $30/oz back in early August and failing to move higher silver has had two significant pullbacks in price. The first was in mid-August which saw price fall from near $30/oz to a low of $23.40/oz on August 12th. The second significant pullback was today which saw price fall from nearly $27/oz at the open of trading today to a low of $23.71/oz-and an...

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Silver is up roughly +60% since the beginning of July from $18/oz to a current price of over $29/oz. Price has seen strong gains ever since breaking above $21/oz which was the upper level of a long-term consolidation/accumulation range that lasted from 2014 through last month. Last month price peaked right at the $26/oz level which stems from price support seen...

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Gold price ended July at $1,974/oz which made last month the highest that gold has ever closed on a monthly basis-beating the previous high set back in August of 2011 of $1,823/oz. July also saw price make a new all-time high of $1,984/oz which beat Septemeber 2011's $1,920/oz. So far August 2020 has set a new all-time high of $2,030/oz which was made today with...

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Silver has broken well above the long-term $20/oz resistance level that has capped price since 2013 and is now testing $25/oz which is a level not seen since 2013. Silver opened July at $18.20/oz and is currently at $25.15/oz for a +38% monthly gain going into August. While gold is making new all-time highs per-ounce above previous highs set back in 2011, silver...

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Gold price made a new all-time high overnight of $1,945/oz breaking the old record of $1,920/oz set back in 2011. Price is currently holding above $1,930/oz and close to making July a record closing month as well if gold holds above $1,825/oz into August which looks likely. Price has been on a steady rise with bullish momentum since mid-2019 as indicated by the...

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After trending mostly below $18/oz for nearly two months silver has recently broken above that resistance level and is currently testing $18/oz as support. If price can manage to hold above $18/oz and see a continued push higher then $19 will be the next level to watch for resistance. Should price fall back within the $17-$18/oz range then $17 will be the main...