axelroark

axelroark Updated 

Carried into earnings week on strong volume as it approaches a new ATH, it's reasonable to expect a pre-earnings inflation (bubble) that would allow a quick scalp for some easy money. Fundamentals aside, even though this equity may be overpriced, it's positioning itself as one of the market's favorite growth stocks for this cycle. Would not be surprised to see...

axelroark Updated 

Apple has fallen out of favor with investors as of late, despite a decent earnings beat (after guide down), and it's easy to see why. Given its track record as a market leader, and recent highs > 200, it's failed to catch enough momentum to get out of the danger zone. Looking at sell signals for a short entry, I've noticed a) it's caught in a descending channel on...

axelroark

Objective look at SPY to compare current patterns with former bear market rallies makes it very difficult to ignore May of 2008. This is a weekly chart in log scale. The comment bubbles say it all.

axelroark Updated 

Square is a highly volatile stocks capable of making runs that pay both ways. In this case, a symmetrical triangle has formed on the hourly, in a short-term downtrend, as volume has decreased. Expect this pattern to complete, support to hold (if it doesn't, go short), and create the next entry point before it (potentially) returns to 80's, 90's, or ATH's.

axelroark Updated 

Have not played MU or SMH traditionally, but it's been one of the steadier semi's going into late January, and has not been affected by NVDA's weak guidance update. Has been working through an ascending channel, and now appears to be breaking out of a bull flag, supported by a demand zone. Targets have been mapped, but expecting 40+, settling down once it reaches...

axelroark Updated 

I'm not trading this, but posting it as something to watch. We have a few weeks/months until other semi's report, so it could easily ride this line into the 200dma, though it will likely see some consolidation as it ascends into future supply zones. Risk/reward not here for me until it shows its hand a little more.

axelroark

Weed is the future, or so they say. 2018 saw a ton of overweight equities, but they have proven to be some of the most resistant names in today's market. Therefore, it stands to reason that if names like CGC, TLRY, and CRON will continue their rise, this ETF will reflect that success. It needs to retract, but will offer a great buying opportunity in the next 1-2 weeks.

axelroark

TILRAY looks poised to complete the final stage of a head and shoulders pattern as it builds a base in it's largest demand zone. Fully expect support to hold, and the stock to reach for ATH's once more, potentially pausing inside the next supply zone.

axelroark Updated 

In this January bullish market, bear flag breakdowns have mostly led to flat lines rather than massive drops, but given 3M's China business, and a week already full of dismal earnings reports, it can be expected that this bear flag will play out as a minor decline in the short-term stock price. There is fresh demand in the low to mid 180's, and even if it falls...

axelroark

Red Robin Gourmet Burgers (RRBG) has carved out a bottom inside an old demand zone, and is now heading into a mid-term supply zone. If it clears 33.66'ish, it has potential to clear the mid 30's. If it does, expect a great long opportunity. If it does not, it may become a great short.

axelroark Updated 

Disney remained strong through the 1/22/19 consolidation day, and is contracting for a potential continuation breakout. Target 117.

axelroark Updated 

Not looking good for TTWO as a failed breakout led to a 7% drop on 1/23/19. Clearly in a downtrend. Wants to break this box and head into demand. Will likely struggle there, but first target is 92-93.

axelroark Updated 

SPY consolidating into a penant flag with potential to breakout. Target 267.

axelroark Updated 

VIX formed a massive bull wedge from Dec 24->Jan 19 highs, but the breakout has not been sustained, and it has struggled to maintain DTL support. It's also forming a bear wedge that could result in a massive breakdown. Target 16-17.

axelroark Updated 

Log chart broken down on a weekly scale then zoomed into daily for near-term analysis. As you can see, both RSI and price have entered, or will soon enter a chop zone that will determine whether it tests the upper DTL (85), or breaks down to re-test the lower DTL (64). Resistance near 73 will be the key indicator. If price action blows through this line, we can...

axelroark Updated 

SPY is moving into a distribution zone, which will likely result in resistance and a dip back towards recently established (fib) support levels. This establishes a new DTL support line that takes us through existing DTL resistance, and back into the next chop zone for more consolidation before either regaining ATH's, or re-testing lows.

axelroark

A bearish SPY case that results in a re-testing, and potential failure of the 2018 low. Consistent with fib levels, and existing supply/distribution zones. Would trigger in the event of a recession or credit crisis.

axelroark Updated 

Credit for "happy sloth face" to @asymmetricalpha. Lotto opportunity on a stock that appears to have bottomed near-term, and wants to run a bit.