$GXO exhibited RS for the whole of this week. HVC out of its wedge pattern but still below ATH VWAP. would be wise to take a position only above 50MA since it is just barely $2.50 away. it gives more affirmation to the momentum that it may be building up
$CROX suffered at -36% decline from its peak in 2 months, deflating its rising 10/20MA but leaving the 50 and 200MA intact. interesting to see $CROX supported by its Q2 post earnings pocket pivot at $120 with 2 hammer bar this year. pretty for a mean reversion setup
$METC based out from dec'21 and continues riding up its 20MA within a tight channel, also trading beyond its VWAP from ATH. ADR now is at 5.65% to price, and uptick in daily volume for 4 consecutive session. this is the kind of behavior that may set for a parabolic move imho
$SWAV remains supported at $165 since early dec'21 when market experiences 2 period of weaknesses. not the strongest name for past months but could be poised to be a late runner. have been challenging VWAP from ATH since 2022. recaptured its 10week MA this week.
$QCOM upon its Q3 earnings gap up, it remains relatively resilient to market weaknesses since december. also flagging in weekly chart. yesterday's closed have $QCOM trading beyond all significant VWAP, above 10/10/50 MA. $188.15 is the ideal level for a tight entry to size up
$DNAY episodic move on 29th dec (+39%) upon announcement of partnership with $PFE to advance its DNA platform. it has since broke out of its 6 months downtrend channel, trading above all its major MAs. continues to ride above its 10MA since 2022. flagging for another pump
$SNOW setup for a mean reversion swing on its hammer candlestick pattern, sitting on its rising 200MA. a reversal from this juncture would paint out a cup and handle pattern on its weekly YoY Q3 EPS +113% Q3 Sales +110%
$DOV very resilient to market weakness, after breaking out of its cup and handle pattern. you wouldn't find many large cap name like this still sitting above its 10MA right now. Up/Down Volume Ratio 140%
$SRTS cleared a one year base cleanly with a high tight flag consolidation right now. breakout level at $8.55 will be 52 weeks high. YoY Q3 EPS + 110% Q3 Sales + 241%
$CFLT bounced off a significant price support, an area of value with significant buying interest. this would be the 3rd time $58 held through the 3 period of market weakness (Oct'21, Dec'21 and now)
$NVDA a semicon darling, transited to a descending triangle pattern over the week. relative weakness to price action, and broken down 50MA completely. importance of having sell rule, and executing the sale if things are not working.
$FXLV broke above its VWAP anchored from a high established prior to Q3 earnings sell down. 1-month RS. higher lows in price action, trading above a potential rising 10 and 20MA. daily price range remains volatile at 6.49% to price. $11.85 would clear 3 weeks high
$PRTA late stage biotech firm. have higher low tightening price action since mid dec, closing above 10/20 and 200MA for the first time after a ATH peak to trough correction of -38% 3 months ago. lucrative risk reward if this trades work
$ZS supported on 10/20MA crossover, along with AVWAP from high. significant day as it will be contesting a rising 50DMA again this week at $332.55. relative weakness is displayed on RS's 50MA against price 50MA.
$QCOM setup on both daily and weekly displays a pretty HTF with 50DMA / 10WMA catching up to its current consolidation. this is one of the few semicon setup that have not rallied beyond its ATH this week
$MF got chopped out once in earlier in december. current price action remains constructive and tight (volatility on ATR contunue to tread lower),along with a longer term cup and handle pattern. looking to challenge AVWAP low again ($4.50)
$SUM reflected intraday RS, wriggling out of its downtrend line. it is one of the few names with a price action supported on its rising 50MA during the December market weakness.
Market Technicals (Rally Cycle Count: Day 4 of 25) $SPX (S&P 500) vs $RSP (S&P 500 Equal Weight) – (Net High/Low +70) $SPX posted a solid gain of +2.28% (+105.13 points), erasing the losses experienced in the earlier week. With $SPX closing at 4,725 level, it remains below its all time high level that have tested four times over the past 8 weeks. $RSP broke out...