Safe_Trades

Safe_Trades Updated 

Li found support on the 21-ema and on the third consecutive time of asking it finally broke above of the $33 resistance. As you can see from past price action, the $33-$34 zone has been a strong resistance level for quite sometime now. Stochastic and MACD look healthy and curling up and I believe LI is poised to go higher but I took some profits at this level. If...

Safe_Trades Updated 

NNDM is forming a somewhat steep rising wedge, which is a bearish pattern. MACD is curling down and RSI shows a bearish divergence with price. If you own the stock: if the price closes the daily below the lower line place your stop loss very tightly because the breakout of these formations hit the target very fast. According to Bulkoski prices should fall to...

Safe_Trades Updated 

After breaking down from the rising wedge SBE found support on the strong level of $34, which is about half of the height of the wedge. It is not finding resistance on the 21-ema, which roughly coincides with the .236 fib extension level. Stochastic RSI is curling up, which shows bullish momentum. I used the Stochastic RSI instead of the Stochastic because it...

Safe_Trades Updated 

There is a bearish divergence between the price and RSI (as well as Stochastic, not on the chart). MACD has been in overbought territory for quite sometime now. This doesn't mean the price has to go down but since there are a few indicators pointing to a move down as well as the fact the price is now at the top of the channel, I would not be surprised if TESLA...

Safe_Trades Updated 

After the huge move up during the first months of the pandemic AMZN has been taking a breather for sometime now and consolidating within the pennant, which is a continuation pattern. RSI and MACD (not on the chart) have been pretty flat throughout this time, without big moves up or down, corroborating the consolidation. The Accm/Dist has stayed up throughout the...

Safe_Trades

I am not one to speculate on future pattern formation but I am on the watch for a possible head and shoulders forming on ARKG. The pattern (if it ever forms) is missing the completion of the right shoulder so for now I will just wait calmly and see how it unfolds. The Stochastic and RSI are curling up, which could propel a price increase in the short term (and...

Safe_Trades Updated 

Fundamentals BofA recently raised XPEV's price target from $43 to $51.1. This is very bullish for XPEV because more often than not these price targets are met in the short to mid term: news.yahoo.com If you want to see more price targets you can check out this report (some are as high as $58 and $59): www.marketbeat.com Another thing to keep in mind is that the...

Safe_Trades Updated 

There isn't enough data on LI AUTO INC to make any significant analysis on the weekly chart but it is possible to see a hammer candle, which could mean a potential reversal depending on what the next candle prints. A green candle that closes above the hammer high would confirm the reversal. Ideally, the confirmation candle should be formed on strong volume to...

Safe_Trades

ARCT fell a whopping 66% the past 2 days. The catalyst was the inability of its COVID vaccine to produce levels of antibodies comparable to other vaccines in development or already developed. You can check more here: www.investors.com It found support around $41.5 and moved about 12% to the upside to only fall again. It is currently hovering over the $44.3...

Safe_Trades Updated 

FUBO retraced about 42.35% from the previous swing high and is now finding support on the 21-ema. It touched the 21-ema yesterday and again today. It is now sitting on the .5 fib retracement and finding resistance on the 14-ema. Additionally, the stochastic RSI is starting to curl up, which is a sign of change in momentum. This doesn't mean it couldn't go lower...

Safe_Trades

After falling about 80% from the most recent swing high, xrp found support on the historic level of .17. It then made a parabolic rise to .247 (about 46%) in a couple of hours, a move that was capped by the 14-ema on the 4hr chart and 50-ema on the hourly chart. It then retraced to the 21-ema on the hourly chart, where it found support and rose again to .247,...

Safe_Trades Updated 

On the weekly chart (second chart) it is possible to see that Blink broke out of a rounding bottom. The candles that preceded the breakout candle showed high volume, and the breakout candle also had decent volume. The long trend is definitely bullish. On the daily chart, however, there is a clear bearish divergence forming between price and RSI. Also, for most...

Safe_Trades

PLTR formed an ascending triangle but failed to breakout to the upside. It is still respecting the recent support at around $26.10 though, which is good for the bulls. There is a narrowing of the Bollinger Bands on the 1hr and 4hr charts, which could signify a potential breakout to either side since the candles seem to be ranging around the moving average. MACD...

Safe_Trades Updated 

After rallying about 92% from the previous retracement to the 21-ema Blink is showing a possible bearish divergence on the daily chart with a couple of cross overs on the MACD and narrowing of Bollinger Bands. It already dropped about 1.56% in the after hour session (about 6pm EST). I am waiting for confirmation on the next candle but this may be a good time to...

Safe_Trades Updated 

After bottoming at around $ 7,300 BTC saw a strong reversal after a doji on the 1hr chart, which roughly coincided with the news that Bank of England Governor Mark Carney affirmed in a letter to the members of G20 that cryptocurrencies do not pose a risk to world economics. That piece of news was probably the catalyst to the reversal. After having made an...

Safe_Trades

The shooting star on the 4hr chart is a bearish indicator and shows a possible reversal on the trend, even if just a short term one. To confirm bearish-ness the shooting star needs to be followed by either a gap down or a long black candlestick on heavy volume. ***This is just my opinion, not financial advise. Please do your own research before buying or...