H & S noticed, we might see $65 (the upward trendline) on PENN in couple weeks if the whole market keeps its current selling momentum. Longing at $65 could be a good idea assuming PENN can keep its upward trendline. I personally believe the college football season or any related sport seasons are already priced in couple weeks ago.
On D and 4hr, SQ looks like forming a (somewhat) diamond top pattern. Even though the company had strong earnings and consensus, there is a $280 resistance that needs to be cleared in order for uptrend continuation. A break down out of $220 range would be the confirmation and will send the stock back to $200.
I am a bull on SQ, but short term the stock might be...
The last week sell off it hold well at 128-130 range, then bounced back. Daily RSI is at uptrend
If clears 138 (Daily resistance), we're off to 150.
Position: 3/19 $150 calls
Just an idea, all the S&P 500 inclusion news had been digested, the Georgia senate race is coming (as of writing it's 11PM 1/4). Looks a bit overextended to me.
I still think it can moon to $1000, which will give it ~$1T in mkt cap but might need a correction before take off.
MACD 4h and Daily showing bearish, been making lower highs and lower lows recently, looking at lower 20s by EOY.
I'm assuming MACD will bottom out once lock up date (12/31) passed. I will open my initial position by then or when it hits lower 20s, whichever comes first.
Fundamentally this is the company that I'd like to put my life savings into but not until all...
Seems like PLTR will enter into a consolidation zone once this cools off. Gap would be 18-20 and 20.xx would be the new base.
However if breaks out at 25 after this week then I'll be long again with $30-40 target, that shows the heat is still there.
I fundamentally like this company and will go long once my confirmation of either $18 support or $25 resistance is...
$120.xx with buying volume to next upper channel with HL @$120 and HH at $125. If no buying volume then will consolidate within $109.xx - $120.xx flag pattern.
Targeting: $123-$125 if breaks $120 resistance, $109 then consolidates within pattern if breaks $116 support.
Please let me know your thoughts!
