Shopify is a powerhouse and a really solid long term investment. Wix is a strong competitor but I honestly think Shopify is the better long term play due to it's easy to use ecommerce interface. Up nearly 235% from it's March lows, I think it will actually move higher to around $1300 for a 5th and final wave before a major correction back down to its historic...
Accenture has been on a tear since the March lows. Long-term I am very bullish on this company for many different reasons. We have a 4 year trendline it is approaching and I would expect some near term consolidation around that point. It is holding the 21 day EMA as support so I am looking for a break and for this to become resistance. We have a gap around...
I have been watching Pinterest since March and I kind of want to cry after last Friday. There is no way this rally is sustainable. It looks like we have a hanging man met at strong resistance. A lot of the tech stocks are displaying this same candle pattern breakout from there trends. Their earnings report was phenomenal, but I think it is poised for a...
Wow is all I can say right now. We had a clear break of the channel last week and apple was trading in what looked to be the start of a downtrend with a loss in momentum and RSI divergence until they reported ridiculous earnings last night. We will see a pullback from its massive run today, but I expect another month or more for it to run to around the $466.00...
The S&P 500 has made an amazing recovery from what looked like a falling knife. The market has been completely propped up by monetary and fiscal policies and is basically on life support right now. I don't think I need to explain the disconnect between wall street and main street and for anyone who doesn't realize the financial situation we are in needs to get a...
Zoom has been nothing short of miraculous during the pandemic but we are seeing signs that a massive selloff is about to occur. Up over 200% since February with major RSI divergence and weakening momentum, I expect it to drop back down to its lower trendline formed in April. Risk/Reward is still not that good, but if you want to hedge your portfolio, placing some...
Astrazeneca seems to be the clear front-runner for the vaccine. There has been nothing but positive results so far, but that doesn't seem to be helping the stock since there was a massive selloff when reports came out about this. There is potential for a gap fill and a bounce at around $54, but if it breaks lower than this, there will be more downside to come....
Amazon is quite frankly like nothing I have ever seen in terms of long-term growth perspective. With its recent and long-term parabolic move, will this stock just continue to go higher and higher? I think a pullback is necessary for it's long term growth to be healthy. It tapped its lower trendline from the March lows and with all of the money being poured into...
Apple as well as all of the FAANGMAN stocks have been the number one reason why the market has held up and I think that is about to change. In order for the market to continue to push higher in a healthy fashion, we actually need these stocks to pull back and for other sectors that have been weakened by the pandemic to start to rally. Of course more stimulus will...
Marvell is sitting right around its previous all time highs. There is clear MACD and RSI divergence on the daily chart. A bearish engulfing candle on July 13th looks like we may have a selloff here pretty soon OR this was just consolidation. Hard to tell right now but momentum looks weak so I will be looking for a break to the downside OR upside. Disclaimer:...
Crispr is still on the rise and trading within it's rising channel. It looks like it has completed a 5th wave and is due for a correction. There is major support around $73.00 which is also the 61.8% fib level. This may present a nice buying opportunity if it drops to around $73.00 and that support holds up. I think gene editing and genetic engineering will...
It looks like Parsley had a nice run, but has recently broken its lower trendline. There is a hanging man as a new high that was formed as a bearish island. The 61.8% retracement is holding as support right now. A break in that as well as the 50 and 100 day moving averages, and I think we will see new lows. This is not financial advice. Trade at your own risk!
As a follow up to my last post, Barrick broke out of that bull flag with a pefect bounce off of the 61.8% retracement line. With coronavirus cases spiking, new lockdowns going into effect, and a growing sense of FEAR in the market, I seriously don't know where else to go. Going into election year, this seems like a perfect storm. I think anyone is crazy to think...
I only own physical gold right now but with the uncertainties in the market and the Fed pumping in trillions of dollars over the next couple of months, I decided to look at some gold mining stocks to hedge against the dollar. Barricks Gold looks to be consolidating and has shown support at the 61.8% fib retracement line. This is also a long term support line and...
Fortinet has had a strong run since the pandemic hit. It looks like it is forming a strong bull flag with strong support at the $122 level. RSI is not overbought and the MACD is rounding out. I am going to look to go long around $127.00 with an exit around $152.00. Good luck! This is not financial advice!
It looks like AMD has been trading sideways for about 60 days and up a modest 6%. We had a shooting star test the all time highs and was rejected. RSI is showing divergence and the MACD looks to be losing momentum. Another rejection of ATH and I think the bulls will be exhausted. Just my opinion. This is not financial advice. Trade at your own risk.
I think Crown Castle is absolutely a long term hold and a buy especially considering the infrastructure needed to build the 5G network. It looks like it is forming a bearish wedge but is staying within the trendlines. We had a break of the high and it tested the trendline twice before it retracted. Overall, the MACD and RSI divergence does not look too great to...
Looking at the chart, its like like a bearish island developed that ended with a large red candle to fill the gap. We are floating around the 3000 level but are have continued to post lower highs and lower lows for three days. We have A LOT of gaps on this chart and that is something to pay attention to at key levels in the upcoming weeks. If we break below 3000...