tendency about to be corrected, lower numbers are to expcted... i'm going short.
Bullish long term, but we need to get through some more fear first. COVID
Price stopped (1) right at Pivot S1 and (2) just above Fib 0.876. RSI is also aligned with previous bottom. If a multi-day uptrend happens from here, the 3x ETF will gain more than 3x by the end of the trend due to positive compounding. If choppy volatility instead continues in both directions, then holding IWM would have been the better bet. Survey: Which would...
Compelling if this cluster of support holds
The third major buying opportunity of this security's life is now. If the coming advance mirrors the previous advance, then $130-135 should be hit (see the two back-to-back Fib drawings). This is a monthly chart and the security is volatile, so expect plenty of choppiness along the way.
The uptrend channel is on a massive breakout, seems to be a buying opportunity. We are seeing a large amount of buy volume, which is bullish. Also notable, the RSI breached 30 yesterday. Today it has rebounded and now 30 is acting as a new support. Long at 68.85, sell at 78.0, stop loss at 65.00. **Disclaimer I am an amateur trader and I just want to record...
Will be interesting to see if this area holds. If it can, then it might be an area to get long, but market is very spooked right now.
Bullish breakout on TNA - Price is within an ascending channel and forms a good triangle pattern. We are really close to breaking that triangle. I advise watching for a long opportunity. However, be aware of political/commercial tensions that could bring the markets down easily.
Looks like the bears got trapped in the flush below 200dma on $SPY. IWM strong and encouraging for the bulls.