From a price action perspective, Tencent looks primed to make its next leg up. Firstly, price has found support on a bullish trendline formed in late 2018 that has been tested and held multiple times. Secondly, price has bounced off the weekly 200 day MA, as it has done previously in March 2020 and October 2018, with a high level of accuracy. Thirdly, price has...
📚Ocado stock price has been very volatile over the past 12 months. Currently, ocado is being squeezed by a triangle pattern. If price can break out to the upside and close above 2135, which is a strong area of resistance, Ocado stock could move higher.
📚Wizz Air PLC looks primed from a price action perspective to move higher. Price is currently being supported by a bullish price channel, which price is respecting. The 100 day MA is also holding this bullish support line. Price is currently trading between the 50 day and 100 MA. Should price break above the 50 day MA and out of the short term bearish price...
📖Frasers Group plc is a British retail group. The company is best known for trading predominantly under the Sports Direct brand. Frasers own a wide variety of retailers here in the UK. It has luxury fashion retailer Flannels, which sells brands such as Gucci and Burberry, Sports Direct which sells sports goods and also Gelert, an camping and outdoor clothing...
📚Ocado is forming a ascending triangle on the 4H chart, after a long downtrend. This is often a reversal pattern. Price is also sitting a key support turned resistance zone. Should price break this triangle pattern and this resistance zone, Ocado price could move higher 15%.
📚If Under Armour sees a big green candle close above $19.70, price could continue higher to the $23 region. The $19.70 area was tested three times in 2019 and six times over the last few weeks. However, if price fails to break this region, it could retreat and fall to a previous strong NYSE:UA level of support at $15. Having said this, on the daily chart there...
NYSE:TSM 📚TSM seems to have found price support at $114. Price is being supported by a long term bullish price channel, yet has been trading down since 16th Feb. Should price break out of this bearish structure, it could head higher to $135, near ATH. Watch though as price may tag the 50 day MA first.
NYSE:BLL 📚Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. It is being supported by a bullish trendline formed in June, which it has touched and bounced several times. Price is currently...
NYSE:VFC 📚VF Corp, which owns The North Face, Vans, Timberland and Supreme, is at some key levels. Should price reclaim the 100 day MA, this could be followed by a breakout of the bearish trendline - price is still supported by a long term bullish price channel. Price may move higher to gap fill at $92 - which also happens to be the -0.13 Fib Extension.
NASDAQ:MELI 📚MELI stock has just completed a full 0.618 Fibonacci retracement from its September lows of $960 and highs of $2000. Should price print a nice green candle of $1569, price may continue higher to $1923.
NYSE:GIS Dont pe put off by the lines on the charts, its support turned resistance, basic price action! 📚General Mills has touched the top of its bearish channel. It could make one final push down to $52, before reversing. Should price break out of this bearish channel, it could continue to $61 then $63 and then $65, representing three target levels for a long...
📚DG stock is sitting at some key levels. Should price break the $193 level, it may continue higher to $205 and then $218, based on previous areas of structure (resistance turned support). However, price is still trading well below its 50, 100 and 200 day MA, so watch for the reversal down to $175.
📚Pepsi has been trading downwards since mid-December. There is strong price support at $128. Price may continue to to the $128 level, break out of its bearish channel and retest the $143 level. Watch for a breakout of the bearish price channel. NASDAQ:PEP
📚Nice long entry for Alibaba, based on weekly chart - lots of bounces from supporting trend line NYSE:BABA
📚Interesting price action on LI. Waiting for a break out of bearish resistance trend line and 20 day MA. NASDAQ:LI
📚Full disclosure: I do not own shares in £BYND NASDAQ:BYND Please see the chart for the idea. Beyond Meat is sitting at some key support levels.
📚Full disclosure: I hold a long position in Tesla. Please see the chart for the idea. Tesla stock is currently 13% down from it's all time highs and has been trading sideways for much of 2021. Whilst my overall long term view of Tesla is still very bullish, I wanted to have a look at a PURELY technical scenario if Tesla was to turn bearish in the short-term and...