FluxTrades

FluxTrades

Taking some $CHWY 7/1 34P @ 1.34 here. $CHWY is becoming increasing overbought, and we got a gnarly rejection off of our trendline, and our supply zone.

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Our wedge on the four hour chart continues to get tighter. Can play a break of this in either direction. Upside will likely be confirmed with a break of 144, while downside is confirmed under 137.

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$SPY has been rangebound this past week forming somewhat of a bull flag ultimately stuck between 410 and 416. Personally, I'm expecting a break of 416 eventually as bears will eventually lose steam bulls look to regain control of the market. Longs are safe above 416, shorts are safe below 410.

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Fairly beat down ticker, miraculously reclaimed the demand zone before going for the retest. Can trade the bounce given that it occurs, otherwise this ticker is a prime short candidate.

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$COIN shares a structure similar to many charts I posted earlier, with the key difference being that there are NO supports below. A bounce here is highly probable, though if we lose the demand zone we'll likely make a trip down to 150 before moving lower. Traders Beware.

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To all my friends watching the masters, this company shouldn't be a stranger to you. Although $ELY is currently in a pretty gnarly downtrend, we're approaching a strong demand zone established back before the Covid crash. This ticker looks ripe for a reversal, and I'll be eyeing this 20-21.5 zone to load some commons / leaps.

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$AMD is at an interesting inflection point right at a demand zone. I'm expecting us to bounce from here and test 107, before moving up towards the gap at 116. A break below leads us down to 96, and then 87.50. Regardless of the recent downgrade, this trade favors the upside.

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After breaking it's downtrend upon creating new ATLs, $RBLX has bounced aggressively and began to consolidate between two key price levels. ($43 - $53) We are now currently resting on top of our $43 support level. A bounce from here would allow us to trade this name up to $53 and capture a 25% move, while a break and close below 43 sets us up for a nice short...

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Chart currently looks gorgeous for bulls. We got a textbook pennant breakout and retest, followed by a breakout of our previous highs. PT : $45,000

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$RBLX is stuck between a rock and a hard place here, with the trade favoring the downside. We're coming up on an overhead resistance at 64.5, while also running into heavy trendline resistance established all the way back in November. I personally think we reject and visit 60 this week, though there's also a possibility of a double breakout which could lead us...

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$RBLX is looking really grim. A loss of support at 60 means we're in no mans land right now. Tread extremely carefully, we don't know where price will settle.

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Precarious situation for $TSLA. We sliced straight through the demand zone this morning. Next support down will likely be found around 800, if not 760.

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With the recent weakness in the markets, $DIS has formed quite the large bear flag. If this breaks to the downside, that gap left at $128 is quite a long ways away...

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Based on overnight futures action, we may experience a gap down tomorrow. The chart for $UPST looks awful with the stock losing many key levels of support. We're currently at our last level of support before huge downside. If we break through 106.5, it's extremely likely we see 91 over the coming days. Will enter a short in the morning if my thesis plays out.

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The $SNAP chart looks horrifying. It's quickly approaching the downside gap, which is nearly 20% wide. Based on overnight futures action, this is a prime short candidate leading into tomorrow.

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$NVDA is still following the downtrend formed shortly after reporting earnings two months ago. We're currently in a low volume zone, approaching resistance, with a large gap below. Traders beware.

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$LCID is currently caught at a supply zone leading into lockup expiry. Things could get ugly fast come Wednesday. It's highly unlikely we break to the upside.

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$BA is currently flirting with a breakout to the top of the channel. Fakeouts in this name are common, I wouldn't be shocked if we rejected. Will take calls on a confirmed breakout, puts is we reject towards the bottom of the channel.