RS3175

RS3175

After reaching a high of 118 in Feb 2023, DIS has been in a continuous downtrend, forming a descending triangle. It is not at support level of 82.5. An RSI divergence has formed. Uptrend to begin in a couple of weeks, at best.

RS3175

ENGI has been trading in an upward channel (red lines). It hasn't been able to break the neck of W formation this time. Likely to go down a little further, max. up to the lower red trend line and break the W neck during next upward trend. Price target of 16 by end-2023.

RS3175

NDX's cup and handle formation is complete and its breakout begun. Three small pull backs before reaching 18000 by end 2023.

RS3175

CVX consolidated for two months from May to July 2023 (larger rectangle). Moved up slightly and started consolidating again. Price is now above 20/50/100 EMAs and just below 200 EMA. Likely to break 200 EMA soon. Uptrend to start by end-August with PT of 180 by end-2023.

RS3175

Today, MCD lost its 200 EMA. 275 support is in a low volume area. MCD likely to reach 265 (high volume node) by second week of September. RSI will be in the range of 20 by then, which will be a good time to buy MCD.

RS3175

PLD is in accumulation phase since March this year. Volume has been going down in last one month. PLD will move to its support level before breakout.

RS3175

PENN has been in a symmetrical descending triangle formation for a year. It is near a key support level. Likely to start uptrend in September.

RS3175

Red line is the trendline since 1980s. Green line is the trendline since 2009. Yellow line is the trendline since 2016. Purple line is the trendline since October 2022. Historically, whenever the market has climbed steeply, it has experienced two lows before continuing a long bull run. The market which started its steep uptrend in April 2020, reaching its peak...

RS3175

LKQ was on an uptrend from March to October 2023. Nov-Dec 2022 was the period of consolidation. LKQ broke out in January 2023 but has been in a rectangular formation since. RSI is now nearly oversold. But the overall market is weak. Either ways, LKQ will come out of its rectangular formation today. If the market forces subdue it, a downtrend will start. Else a...

RS3175 Updated 

TMHC is a strong stock. It's getting ready for a breakout from the rectangular formation. Bullish momentum is decreasing according to Squeeze Momentum indicator. Hence, the conclusion is that it will be a breakout rather than a breakdown.

RS3175 Updated 

TPH formed a double bottom in end July-beginning Aug before going into a consolidation phase. Bearish momentum is getting over. Next week TPH should start its move up.

RS3175

POST has broken out of the rectangular formation, within which it was trading since May this year. Price is now above 20/50/100/200 EMA. Next stop is 95 when it will form a double top with the last all time high in Feb 2023.

RS3175

Let's first examine the smaller red channel inside the larger yellow channel: March 2023 was the start of this uptrend. In August till date, the index has fallen below 20 and 50 EMA. Yesterday (16 Aug), the index closed below the lower red trend line and has gone below support level S1 (green line). If the downtrend continues, it is likely to go down to 4300 (S2 -...

RS3175

A bearish flag is complete. Price on trendline and just about 200 EMA. Breakout if stock moves up in the next couple of days. Breakdown if otherwise. Squeeze momentum indicator indicates more bullish trend than bearish.

RS3175

Uptrend reversed after one large double top and two small double tops. RMBS is forming a small double top and holding support of 200 EMA. If the price falls below 48.5, it may go all the way down to 44, which is a strong support level. By this time RSI would also be in oversold category. RMBS may then start is next uptrend.

RS3175

PEP has bounced today from the first support level of 182. It is also holding 200 EMA. Squeeze momentum indicator doesn't have dark red bars yet. If one appears in the next couple of days, it will confirm that bullish momentum is building up.

RS3175

GILD has formed a bullish flag and price is above 20/50/100/200 EMAs. If resistance of 80 is broken, price will also go above upper trend line. First resistance likely at 84 after breakout and then at 91.

RS3175

F was in a downtrend from Jan to July 22. After a breakout in July, reached a high of 16.5 in mid-Aug 22. Thereafter a second downtrend started which ended in May this year. The second breakout reached a high of 15.3. Both these breakouts happened when the stock hit 11.3. In the current downtrend, stock has broken the support of 12.3. F is oversold but not highly...