DigiDavid

DigiDavid

REASONS TO BE BULLISH Above the 100 week SMA and climbing - providing support at $1,800 About to break the cup and handle pattern to the upside RSI is in the bull zone and has reset. Looking healthy, providing space to the upside for further growth. ADX reset after Sept 2020 and bullish momentum creeping up once more Repeating the same double-trouble...

DigiDavid

REASONS TO BE BEARISH Recently lost the 100 week SMA and just re-tested it for resistance Fell out of the exponential green top zone in March 2021 As far as the RSI is concerned, broke into the bear zone (below 40) and confirmed it for resistance failing to reclaim 60s Target of 2,700p would coincide with the 0.618 fib retrace of the entire move from...

DigiDavid

REASONS TO BE LONG-TERM BEARISH Broke the 100 week moving average 14th Feb RSI has dropped into the bear zone, confirming sell signal Dropping outside of the exponential bull top (green area) Replicating same setup as January 2001 Back then price made way all the way back to the 0.5 fib at $8. The same move this time would take it back to $105. ...

DigiDavid Updated 

WHY I'M STILL BEARISH Shopify still trading at 85x earnings - hugely overvalued Next support 50% away at $150 Stick model (white dotted lines) yet to be crossed to the upside, with air below Approaching recent lows from May 13 of $306, lower highs not yet in RSI still showing weakness in red bear-zone and further sell side possible going into June ...

DigiDavid

Short-term bullish for SQ Block from here. A 100% move into July is looking increasingly likely @ $170. This would be a re-test of the MA for resistance. It also coincides perfectly with a 0.382 fib retracement from the downtrend. RSI is very oversold and making a higher low. There's now divergence vs the price - which is making a higher low. We're also at the...

DigiDavid

REASONS TO BE BULLISH Technical - Recently broke out of a 15 year pennant pattern and just retested for support. Technical - Recently crossed and reclaimed the 50 MA. Technical - MA 50 looking like it may cross the 100 and 200 in future months. Technical - RSI is in the bull zone (bouncing off its base). Technical - A 155p entry was triggered when...

DigiDavid

REASONS TO BE BULLISH Technical - Recently broke all-time high from 2007 - 15 yes FIFTEEN years ago! Technical - Crossed the 50 MA some weeks back and just reclaimed the top of the purple channel. Holding there at support. A great time to reload. Technical - 50, 100 and 200 MAs all the right way around now, after crossing back in October 2020. ...

DigiDavid

REASONS TO BE BULLISH Price just reclaimed the 50 MA and is hovering right at the 100 also (£1,817). RSI on the 2 week chart recently turned bullish, coinciding with reclaiming the 50 MA. Trend line + MA cross = Bullish Entry. These are my favourite trades when the two signals cross the threshold on the same candle. Double confirmation. Further upside...

DigiDavid

REMAINING REASONS TO BE BULLISH Green energy & ESG projects are still top of mind for many investors We still remain above the 100 week moving average and in the green channel “Only” trading 26x above earnings Growing earnings at 8% a year Paying a modest dividend of ~2% Not much else I’m afraid… WHY I’M BEARISH The weekly RSI has just...

DigiDavid

PRIOR BEAR MARKET After such a disappointing day across all markets, Microsoft of all names is now showing signs of topping out. The first time since 2000. Back then, Microsoft corrected over time rather than just in price. Taking 9 years before finally capitulating for a 62% total decline. Given it’s gradual ascent in recent years, something similar may now...

DigiDavid

FISV has reached the top of the exponential channel and is taking a breather below the 50 week MA. This tends to mark a market top, as you will notice from the 2000 to 2002 summit. Back then, there wasn't a huge decline, only a 52% drop. Today we are sat at a much higher multiple, after a comparatively long 13-year bull market. FISV's price to earnings ratio...

DigiDavid

NOT SO BULLISH CASE AMD today announced decent earnings and had a very good bounce off a small decline recently. Aided by less hawkish noises from the Fed mulling a 'soft landing', the market lapped it up - with AMD rallying almost 10% for the day. The reversal was quick and pronounced. With perhaps more juice to squeeze out of this green lime, it would need to...