Shorting TSLA on Reasons: Late cycle growth stock Poor earnings report Worker Strike High short interest (Shares Short 31.52M / 132,056,000 Shares Outstanding) EPS Growth (TTM vs. Prior TTM) -191.95% Immediate Price Target: $143 (expecting a bounce there).
43.71 — Supply level reached. Order flow will drive price back down.
43.71 – Supply Level Reached, more sellers than buyers at this level will drive price down.
In a down trend. It may come up to $81 before resuming the downward trend. A directional rebound would likely see retest of the $75 level. We haven't seen that. Thus, this isn't a reversal but a temorary bounce off the lower trend channel.
Nope. But sure counted on the bulls to think so, which is why I waited until Friday's close to put back on HYG and JNK. We might see bigger drop this time (more likely) or we might see some slow trickle downward. Price target: $31 or lower. Will adjust target as market (and oil) change.
JNK in weekly downtrend, bouncing up from what looks like oversold territory (outside of range). Price may come up to $33 before resuming the downward trend. A directional rebound would likely see retest of the $32 level. We haven't seen that. Thus, this isn't a reversal but a temorary bounce off the lower trend channel.
See previous Weekly chart of HYG. It is time to short it again. Really simple trend line, and the anticipated falling oil price will help bring HYG down, too.
CAT still in a downtrend. It bounced on tepid earnings report. Price might retest $56, and should make $60 easily within a week. Expect over 10% profit in 1 week. Price target: $60.
Imperial Bank of Canada hit resistance at 64.59 and will go back down to $59.
Downward-sloping IHM. Neckline is broken. An upward sloping IHM would be a stronger indicator of future upwards direction, given a broken neckline (I believe). Broadening wedge. Go long when it reaches 19.50, or touches the lower channel line. thepatternsite.com
WFM retested the lower level of $29 and has a fair chance of coming all the way up to $40.
neckline broken - more detail on the weekly..
H & S with broken neckline. www.investopedia.com Where can I expect price to sink to? Shoulder - $32 Head - $140 140-32 = 108. 32-108 - negative; ?
Time for at least a bit of pullback. Head and shoulders in play? Volume is high, not sure what that signifies here.
Price retested lower at 42.18. Price is at a low end of a very wide range: High: 47.84 Low: 42.94