Subject: (CVNA) Consolidation & Continuation
I've now updated my charting to further reflect my ongoing hypothesis regarding Carvana (CVNA) which points towards consolidation and continuation. Based on multiple key factors, I believe we have reached the presumed bottom of the large pullback on the 4hr timeframe.(ZigZag printed). The top was formed on 12/20/23 at...
Subject: NVDA - Upcoming Convergence
In my opinion, NVDA is setting up for a notable move after upcoming convergence on or around the new year. This is evidenced by a few underlying factors.
The recent drop (12/20) was simply a mild sell off to capitalize on the large impulsive move that began around 10/31/23. I believe we see another retest of historical...
Subject: Pullback & Future Outlook
Based on my analysis, it's not surprising CVNA is seeing a large pullback. Especially after confirming the cup and handle pattern by breaking through historical resistance at $40 price level. It then briefly broke through historical resistance at $55 price level before pulling back.
CVNA is currently filling the large volume...
Subject: Cup and Handle Formation
Based on my charting analysis it's evident that a cup and handle pattern has formed on CVNA. This is highlighted by the lime green lines on the chart. The RSI and Volume indicators show a progressing upward trend to break through established resistance at $36.63. This resistance level was re-established by a retest on 11/15/23...
Subject: Watching Convergence
TSLA looks to be coming up on a price shift after Thanksgiving, roughly on 11/28/23. The RSI seems to be losing momentum and there is established resistance at the $243 range. Outside of any news based momentum shifts, I see the price retracing to past support levels at the $194 or $165 levels respectively. This is further supported...
Playing around with pure charting and no indicators to see where it ends up by end of week. Basing my future price targets on identified support and resistance. The S/R can be identified by the white and blue lines. The blue lines representing more significant S/R. My goal is to get within $0.10 of either identified price targets by the end of the week.
Straightforward chart that showcases a rising wedge pattern that has formed. I've identified the S/R levels, and the general path the price could take depending on where the price retraces over the coming weeks. I don't see MSFT pushing past $370 soon, as the RSI isn't trending favorably. With the Fed halting rate hikes and retail season approaching, I think we...
