AA: Price re-discovery to the upside as a result of directional conviction and buyer control. Cases to the upside supported by: sector strength with metals/precious metals hitting record highs on LME, sustained volume, and a maintain of overweight with a new PT to $78 via Morgan Stanley. With RSI >70, we may see some healthy retracement to consolidation. Base...
FCX: Cup and Handle setup after solid basing on weekly frame. Price action finding acceptance above key moving averages (20, 50) which are also acting as support. Volume shelf setting up for a price discovery to the upside. Breakout over 46.20 with volume is on lookout using MACD as an accessory for price action/momentum. Setup invalidated with rejection at 46.20...
NVDA shares are >+5.75% for the session. Post news of dissolved ARM acquisition did little to waver price action, but rather brought back buyer participation and exuberance. NVDA broke out from the 20SMA to gap up for the session. Next KL is recapture of 50SMA @ 275.93, then 284.60 which will mark NVDA's breakout from channel it has been in since November 2021....
AA: 4Bar Play Intraday scalp/momentum live in play this morning with the sector in the lead this am.
NVDA gaining traction following strong ER from AMD. 3Bar play identified on daily, double bottom and re-test off 200SMA, and intraday reclaim of 20SMA. With ER on deck and for February 16,2022 (after market), NVDA is poised to recapture higher values/buyer control. KLs: 239.99, 245.96, 260.67, 273, 277, 284.53 // Target Price: 340, ATR: 15.07 , Beta: 1.45
BTC/USD: DCA Map using weekly projections. Upward sloping 100MA is notable support, but it will be interesting to see if buyers will be present at KL of 40,641.81. Rejection at this level means more range for BTC/USD as observed in Dec 2021 and July 2021.
MSFT: Multi-day double bottom, intraday 4bar play and 3bar play identified during the morning session on 15m time frames. Technology positive and MSFT +1.60% for the day, inside candle on the daily and a bullish hammer off the 200MA. KLs: 298.98, 305.08, 309.55
CCJ: Revisiting lows from September 2021 and seeing a 5 point drop since we last mapped out the potential downside. All key moving avergaes have been breached. KLs to watch before support is re-established are: 17.56, 17.12, 16.22. Earnings are scheduled for Feb 9th where upside and derivatives market are seeing upside potential. Downside is acute and a play on...
AA: Intraday continuation with the Energy Sector taking the lead for the day. AA fresh from monster earnings found support on the 200ma and has pierced the 20ma to recapture previously auctioned price shelves to the upside. AA is continuing an upwards channel it has oscillated in since July 2021. With a -5% weekly and -2% monthly move, the entry is prime price for...
SPY: Key sigma levels plotted using previous breaches of downside breach. Linear regression analysis applied with a Pearsons correlation coefficient of 0.98257 alongside plots of key values of moving averages are also noted. 4.25 sigma level confluence with price action are identified via ellipse for projection of current/future continuation. If support is...
TSLA: Gap Fill to downside observed on 4hr as shares are down -4.65% for the session. With the market internals weak, risk off persists in notable mega caps. Three bar observed on the D, with a bearish cross of the 20MA x 50 MA to break the 1053 price rally higher. TSLA reports for ER next week. KL to watch is 945.07, which is the lower limit of an upwards channel...
MSFT: Falling wedge on 65m indicates a bullish continuation off a previous test of key levels on the weekly (200MA). Price action reflects lower lows and lower highs, contracting volume, and divergence on RSI. A break out of the wedge with volume is key to a reclaim of previously auctioned shelves. MSFT has received positive nods as of recent from analysts and...
CCJ Downside with breach of key levels. It is nearing the lower limits of the upside channel it has oscillated between since September 2021. If selling pressure persists, 21.70 marks a KL to watch before reversion to the mean, then 200 SMA at 20.78. Energy is still an inflow positive sector and pressures involved with Uranium should have clear direction with the...
LCID: Potential for another run to upside after recapturing initial KL at 20SMA. A similar channel was observed in September 2021 after basing for over two quarters. LCID is named as one of the top EV vehicle manufacturers favored by analysts for 2022. KLs: 38.45, 42.82, 45.12, 47.64 // ATR: 3.64, Beta 1.04
AAPL: 3 Trilly Watch : >2.50% move to the upside and >$4.50 move for the session. Nearing 3 Trilly milestone. Options call holders who swung with upside conviction with payoff here// ATR: 4.21, Beta 1.20
TSLA up >10% for the session, clocking >110 points into midday following reports in the early pre-market on record deliveries and expectations for 2022. Multiple price targets have been marked for TSLA including reiterated to sector perform and PT delta of $1005 from $950. Bull flag and wedge breakout resulting in trade location at higher price shelves// ATR:...
NVDA: Semis leading the session following a report of strong sales growth of >$51.B for the sector and an expected growth looking forward. TA shows a clean break out of a flag that has been developing since November 2021. Price action established over 50SMA and 20SMA favors price re-discovery at highs// ATR: 15.12, Beta: 1.34
AAPL: 3T before 2022? Pushing the index into ATHs, AAPL reclaim off the lows with multiple patents reported to be filed this morning and strong recommendations from Morgan Stanley. 210 PT stands for the early part of next year// ATR: 4.55, Beta: 1.20