Its a peeny stock, that usually I dont trade, but recently took position in it.
MSOS felt from its channel 2 weeks ago, but I see good potential for a bounce: 1. High probability it will back test lost support, which is around 9-9.20 mark. 2. Bullish divergence on 1H 3. Oversold on 4H 4. Gap filled at 7.72 5. Good volume yesterday comparing past few weeks 6. Sitting at the bottom of Bollinger 1-4H 7. Double bottom across past 5 days 8. Good...
I am going slowly short. SPY should make another leg down this week. Level of interest is 475-470 Lets see what Wednesday will bring, until then we should stay flat. From the lows of 470, we shall do the usual election run. target 548? Ill be updating this idea.
Just an idea I made some time ago and it seams to be accurate thus far.
Were in up channel, long consolidation, but I believe we are seeing potential to make some gains. There is clear rotation from cad LPs into MSO, I expect MSO to do well until earning season begins. May 08-09
Doesn't mean anything, but the setup is so similar, I am going to get some VIX next week:)
We should stay in 502-508 range today, consolidate. First move in the morning could be down. 508 is a strong resistance. I am wondering if we do another leg down or do V. Usually ACB should have another leg, but the move yesterday was strong, so I am 50/50 sitting on the fence.
I am out for now. if we reach 502.50 SPY may be making right shoulder. However, There is that massive gap that needs to be filled so it may be just a quick scalp.
I will go short if we reject at around 520-521 Spy is out of its channel range and will try to reclaim it today. If we break above it and retest it, then its a short term long. If rejected and stays below 520-521 then its bearish to 516, 512, 490 the correction to 490 will come, just don't know when.
I think it may be the moment to actually put some money in it. 3 years of downtrend, US legalization is shaping up and i believe we may see some serious moves here.
Looks like it, taste like it, lets find out if its real
Looks like miners will bounce. I see target of 26, then pullback to fill another gap at 17.50 That move would conclude potential H&S Mara can go even lower to test support at 16.50
SPY is looking healthy ready for bounce, amazing channel that can bring lots of pleasure day trading, both for longs and bears. Since i set my mind on 510 as a top, today I took a night swing and I am out. I think we may not reach 516 this time and will do correction. Ill be looking for entry to short semis or play some VIX.
Since last NVDA push, I am leaning towards short, not taking any position yet as we may dance around upper trending line. Ultimately 496 would be my target for short and long from there to 512.
SPY touched the bottom of the uptrend line. Looks healthy and if NVDA has good earnings tomorrow, SPY will reach 510 I have a feeling 510 is the target for this year and from there my outlook is bearish. IF NVDA fails to deliver, then 480 would be my target
I believe 1.44 area is where it will finally bounce and perhaps reverse the trend.
I do believe we are going to see another high at around 513, and then we'll bearish
If we count waves, Indexes , which are overbought at the time needs some retracement, thus I see another selloff to 462 level. 1. ABC 2. Forming potential H&S I am short for that period and will switch side to long again once that happens.