Sid2408

Sid2408

I am looking for a strong break and run again from SPOT potentially to ATH. As long as we do not break down out of the falling wedge, which will double as our stop, we can have our first target set at 322.26 followed by 333.30. The spreads are wide on this so be cautious. After 333.30, if we break that point we can see 342.5 followed by the ATH. This stock is not...

Sid2408

AMZN has a great setup in the coming week, but it needs to make a decision as to the direction. On this chart, I have highlighted two levels in pink, one above and one below to watch for a break for a long or short trade. There is a very heavy chance we hit the bottom of the wedge and bounce to the top, or vice versa. I will be watching for price action. This idea...

Sid2408

After theta killing numerous contracts, NVDA seems to be finally breaking out from its descending triangle. It broke out and retested the trendline perfectly, a good case for longs. If we see some continuation here, the first target will be 537.9. The stop will be placed upon the BASE of the triangle which is in the 515 range. This stock can be very slow at times...

Sid2408

EBAY still seems to have a ways to go in its wedge, but a bounce, possibly to the upper trendline, seems extremely likely, as a break below would make it quite bearish. This can be a good entry with a SL once again below the blue trendline, but time is needed on this one as NASDAQ:EBAY is not only a slow mover, but we are in a period of very low volume. The...

Sid2408

MRNA has an interesting setup here, and it should be one to watch in the coming days. Vaccine news made this stock extremely volatile and it is now back at its old trendline from November. This is going to be marked as neutral for now and will be revisited in the new year.

Sid2408

Another great R/R setup here with NYSE:GS . Although there are two candles that broke above the resistance line, they quickly corrected back to the trendline. Today's doji candle is a good sign of the strength of the trendline. The stop will be on the break of this trendline and the first major target is 262 followed by 267. Due to the shortened day as well as...

Sid2408

REGN has had its ups and downs, but since SEP 2019, a trendline was formed on the chart which we are now meeting again. Each time it met this trendline, the stock was met with a hard bounce. After running up to highs in July, the stock has been in a steady downtrend, which accelerated to the downside to meet the larger trendline. This is a great spot for a low...

Sid2408

From about September until now, LULU has held a very strong upwards channel that is not showing any major signs of weakness. Having seen over 3 strong bounces from the bottom, we are able to take a trade with this high probability bounce with a tight stop in order to protect the downside risk. In addition to the price action, the squeeze indicator is showing us...

Sid2408

Currently in a wedge from late October, GM looks to be setting up for a long entry in the coming days. A break and hold over 42.11 would likely offer a long entry followed by a break of the wedge (upper blue trendline). The hard stop would be a break under this wedge, or the lower blue trendline. This analysis has not been marked long as it seems to need a few...

Sid2408

After consolidating for a little under a month, SE is a prime candidate to see a breakout very soon. If we are able to break the upper trendline with volume, 201 is a very viable target for this stock. Watch for this in the coming days. Stop is below the lower blue trendline.

Sid2408

COST has a beautiful falling wedge and I am looking for a break up of the trendline as well as 365.76. I have highlighted two potential paths there in pink and orange. This projection will be invalidated if it falls out of the wedge. 357.14 is a very key level to see a bounce as a break of that support likely means this projection has been invalidated. Time frame...

Sid2408

As we quickly approach the holiday season, even in a pandemic, UPS is swamped with deliveries, so much so that they have to put a shipping cap on numerous companies such as Nike and Gap. Can this be the catalyst to put this stock back above the ATH? It sure seems like it. Combined with good catalyst mentioned above and a symmetrical wedge forming, we can see a...

Sid2408 Updated 

After being a laggard in the tech sector with the likes of AAPL taking off, MSFT seems due for a big move. As long as we do not see any major breakdown in QQQ, MSFT should look to break to at least 220, if not, ATH. It is currently sitting in a wedge, which is coming to a clear end, indicating decision time. Keep this on watch in the coming days!