Major resistance is ahead. But, If you look at the RSI it made a higher high on the large time frame. I think this needs to reach the high to match SNP and nas daq. Bullish Divergence!
Look at the down trend on this, its crazy to me that this formed such a slow and consistent down trend. Buy it and sell at the volume gap.
Not only will people be repositioning for the "Santa rally", but tech earnings will create a lot of distrust in the "big 7". These stocks are single handedly holding this market up, it will take the slightest news to make the first domino fall. The second we get confirmation, play it long. Remember, the market has its ways to do the opposite of what everyone is...
All hypotheticals, something to ponder on. I like to use the 2 day time frame when looking at moving averages because they uniformly react to them much cleaner and more predictable then shorter/longer term time frames. Not only is Elon under fire from wall street and investment groups like no other period in time, his own board of directors are trying to boot...
This set up at the bottom of the channel is a golden position. The final gap down with a bull flag following is something to watch. Waiting for this to either gap up or form more bullish divergence. Target is the upper end of the channel, taking profits at 20%-30%.
IWM saw a very strong bounce with triple positive divergence. After a very unhealthy rally in the last couple of weeks, we have seen IWM struggle to go green on the daily. With the RSI extended like this we could tap the trend line one last time before the Fed pivots and we rally into 2024. Then Crash. IWM is a great representative of the true economy rather...
Walgreens will pop to take profit line due to IWM and small caps going up. It focuses on its health and wellness, pharmacy and seasonal flus to get revenue. This will pop...
Gather around the camp fire and lets forgive healthcare and biotech this year... and the last. This year its different, I want to see the rotation in over valuing vaccine stocks again.
Reverse head and shoulders. Be very careful, high risk.
EBS has THE main stream Narcan that dominates the market. With increasing over doses though out America. Earnings could make this move like crazyyyyyyyy. If it is not this earnings then it is next, this stock can pop 50-100% in one day. Its a scalp trade.
Apologies for the sloppy chart as I need to share this without putting to much effort into making it look pretty. Look at the last earnings report EPS and tell me that big institutions aren't looking at this to buy... Its consolidated enough so far and this is bound to hit $34-$36 EZ PZ.
I have been wrong about the communication sector for the last couple of months and I truly know that I should throw in the towel. But, I know that as sson as you feel like giving up on your bias, it begins to turn into truth... I am still bearish on this short term and I think tech will feel the true damage of higher for longer ;)
The crossing of the 55 and 600 Day MA means a bullish change in small cap stocks. If large caps have strong earnings moving forward, I think small cap will follow and break this capitulation. From 175-190$ I will be buying for long term.
On the basic technicals like negative divergence in the RSI's, the entire 2023 run is a bear flag in my opinion...
I have been watching all EV makers closely and this hard gap down after weeks of downside makes me believe there is a short term bottom with these big names. I think all of other tech stocks will fall come Wednesday and EV makers will continue to climb higher against the market.
I have been in long puts since mid December and I regret entering to soon. Still holding as the bearish divergence has continued to form. The rotation into other sectors is still happening. Mark himself has been selling 16 Million dollars worth of his stock EVERYDAY since November. Why is no one talking about this? Oh, because everything will continue to go up...
I know nothing about the company other then it is a very over sold EV maker that was about to fail and still might. Purely based on technicals and volume, this could blast through the low volume gap and produce an easy %100 on share price. Its risky, keep a tight stop and only swing it long if you do options. Not financial advise.
As we are coming out of a constructed bearish outlook of 2024, I think we may be sold a "all time highs" dream once more. Meta will partake in this rally but once reached the top jaw..... we will begin to chomp down. I was so bored I decided to make this lowkey.