gtrades1

gtrades1

Update of 6/28 chart. Raising stop to the top of the channel.

gtrades1

7/2 MS Short swing trade set up. Closed below 50 SMA today. Short at the break of support in the 23.91-24.00 area, using the descending trendline to set a stop. Could also short within the area of the trend lines with the same stop. That may be a little tricky since the 50 SMA could act as support if reclaimed. 1st target is top of the gap at 22.67. Next target...

gtrades1

Price closed below the pennant of the bear flag. Look for continuation.

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Areas to watch

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Price breaking down from bear flag.

gtrades1

SPY levels to watch: Above 162.48 will get into gap and 163.38 would be next level to watch. Below 161.04 (LOD today and 5/3), then watch for support in the 159.71-159.89 area.

gtrades1

Strong price action in NFLX today. Needs to clear descending trendline of this wedge for higher prices.

gtrades1

Watch descending trendline in the 412 area. If stock clears this area, next area to watch would be last swing low of 418.98.

gtrades1

Bear Flag on the daily. Two possible ways to play: 1. Short at the break of pennant, which is also the area of a rising trendline. 2. If price bounces, watch the top of the pennant, which coincides with the 50 SMA of 154.36. Failing to break above and hold the 50 day would provide a low risk opportunity to short with a stop at 155.

gtrades1

Resistance becomes support.

gtrades1

Breaking out of W pattern. May be forming a larger W pattern.

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Watch descending trendline.

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Bounce trade.

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Long idea.

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Detailed notes on chart.

gtrades1

AKAM may have a low risk long entry here against 41.63. See detailed notes on chart.

gtrades1

After distribution days on 5/23 and 5/24, CRUS has been consolidating on low volume. This price action is creating a bear flag on the daily. May put on a starter short within the pennant with a stop a few pennies above 18.67, or short at the breakdown of the flag. Note: short float is 13.5%.

gtrades1

LMT has shown strength in the past week despite the choppiness in the market. However, with the negative divergence in the RSI, and anemic volume, I would be careful to see whether if this is a double top or if it can gather enough momentum to make new highs. I would go long above 108.55 only if I see volume expansion, but would not short until it breaks the...