Hello traders and investors! Let’s see what’s going on with Tesla now! As we discussed last week, Tesla is now in bull territory, as it is trading above the $ 408 again (red line). The false breakout didn’t occur, and the idea of a Dead Cat Bounce is off the table, at least in the short-term. Now, the momentum is bullish, and as long it keeps doing higher...
Hello traders and investors! Let’s do our complete Multi Time Frame Analysis (MTFA) on Tesla today and try to figure out what to expect next. First, Tesla is trading near a support level, which is the blue line, but it seems we have another bottom at the black line. There’s a trendline connecting the tops, that works as a resistance, and if Tesla defeats it, we...
Hello traders and investors! Would this be a Dead Cat Bounce? Or will Tesla fly again? There are some key points to keep in mind. First, if we look at the hourly chart, Tesla is just doing a pullback to the 21 ema, which is normal and expected. The problem is that the pullback is too intense, and this spoils the bullish momentum. Since the stock gapped up...
Sentiment: Short term Bearish Reasons: 1.Strong Weekly Resistance (Now Support) at 317.59 2. Bearish Island Gap on Daily Chart 3. Bullish Channel Breakdown 4.Selling Volume Increase 5. Rising Wedge Pattern Formed After Market Open Gap up 5. Decrease in Overall Volume During this Pattern formation Confirms its Strength
Sentiment: Short term Bearish Reasons 1, Strong Weekly Resistance at 317.59 2.Bearish Island Gap on Daily Chart 3. Doji Candlestick Pattern on Daily Chart 4. Bullish Channel Breakdown 5. Selling Volume Increase
From the 11 of June, the Island reversal remains intact and now the Spanish index tries to close it. We will see the mission will be a success soon, but what I would like to see is that the gap remain open and the bulls will be closed to the island. So from the red resistance zone at 7600, the IBEX should turn down as I was expected in the related idea. Closing...
Two Bearish Island Reversal Patterns In The S&P 500. Bearish!
Very bad news for the Spanish market, an island reversal(in the red circle) remain valid then the further decline will come and continuing pressure should lead the price near 6400. In this bearish view, I expect to see today gap remain open!
Last week saw the largest decline in markets since the rally of the March low and in doing so created an Island Reversal Pattern which is a bearish type of chart pattern. Island Reversals form when price creates a gap up during an uptrend, holds above the gap level for a few days, and then reverses back to the downside while creating another gap on the move down...
We might se a highland top reversal pattern on the Nasdaq in the coming hours or days. This would be the beginning of a more mid-term leg down. Also note the Kumo is very narrow which would show very little resistance to the prices. This pattern will be confirmed if prices gap down to form the actual island.
1. Divergence in the RSI Indicator 2. Divergence in the MACD Indicator 3. Forming of a Head and Shoulders Pattern. 4. Clearly forming of a Elliot Wave. 5. Volume trading has been decreasing significantly. 6. Island reversal on the top 7. The rebound channel was broken Do you need more hints? Or is it already clear? Please comment what you think.
Now, this one is the flawless pattern! Island Reversal on SLV Bullish on silver, long term.
This pattern looks like an Island Reversal. The trend should be down just before the island for the pattern to be flawless. This is not the case, but it gives the feeling that investors are letting dark views behind them for now.
It seems like a good annual report triggered hype around Tesla. The chart forms island reversal with 3 price gaps. I will wait for movement start cause I don't know for how long it continues but volume started decreasing.
SDRL has been in a large downtrend, recently it has seen a large price pump, this may be due to fundamentals however we will stick to charts. A short opportunity has opened with the recent pump, touching the downward trendline and indicative of a possible bearish reversal.
Bloom has been on a massive / fast paced run since October, however a clear downtrend is still present, and the success (breaking the downtrend) or failure of this bull flag, will determine if the stock rises or falls. An island top is also present with a clear price gap.
Ubisoft has been stuck in a downtrend for awhile now, an initial island can be observed and linked to the current downfall of this stock. Currently the price is trading within a downtrend, where a second island bottom is present, which may lead to a reversal at the immediate support zone. Overall the bearish momentum, outweighs the possible bullish factors.