Understanding supply and demand is essential. Here’s a quick intro to how we can benefit as traders by using AMEX:SPY as an example.
1. Identifying Potential Entry and Exit Points:
Supply zones represent areas where selling pressure exceeds buying pressure, potentially causing price to reverse. Demand zones, on the other hand, indicate areas where buying...
Here is my weekly $SPY analysis for the week of 1/9/22.
$SPY Friday broke out of this weekly trendline it has rejected since Jan 2022. However the breakout is right into a huge supply zone . We also do have some market data coming out this week so this should be good folks.
Here the supply zone I wanna trade is clear, the huge weekly supply zone that everyone is...
$AMD another great setup if the market can push higher. Weekly and daily look great, Following trend nicely. Also formed pattern yesterday. Looking for the breakout to the upside.
Long above $151.75
BTD at 149.50
Swing targets: $153, 154, $154.50
Let’s see if this decides to squeeze until the end of the pattern or if we can breakout tomorrow. Either way I like the setup. Breakout of a range on 4 HR with 9+21 EMA crossover.
Long above $18.6
BTD at $18.4
DT targets: 18.75, 18.85, 19
$QQQ/NQ Tech also looking really good here with Apple leading the way. Possible cup & handle forming if we see some consolidation the coming days but this looks ready to rally again.
Long above 16532.18
Looking to BTD on the retest of the 9 EMA and if we can hold 16475.72 on top of small supply zone
Swing targets above 16532.18: 16559.84, 16579.95, 16655.19,...
$SPY
looks like Santa is still here!
Cup & handle on futures playing out beautifully. As long as we hold above supply overnight I don’t see anything stopping us from making more all time highs tomorrow. Daily also looks amazing after consolidating and retesting the 9 EMA for continuation.
Wanna buy the dip if this retests and holds 4789-4784 above supply (9...
$MU Liking this a lot especially if we do get our Santa rally after all.
Just had earnings and smashed through weekly supply. Had a nice gap and go play today already testing the bottom of supply at these ATH levels.
If tomorrow we see a pullback I wanna BTD at:
BTD 1 Top of supply if $ 90 holds
Or
BTD 2 / SL: 88.80 yesterdays low
Below 88.50 I’m not interested.
$FVRR I have my eyes set on this for the longer term. Not interested in short term noise. Small cap company I personally believe in.
Looks like a giant falling wedge on the weekly timeframe currently into demand. I may think about starting a leap position here.
I’m not sure when but when this baby decides to reverse look at all that reward to the topside.
$AMC I like all the momentum and news coming into this.
And with the new Spider-Man movie it still has a positive catalyst pushing it up.
Reclaimed supply and is holding trend nicely for now.
I’m long over supply above 30.50
or I’ll look to BTD around $28.62, lowest BTD is 27.2
$BNGO I like. Look for be building a base after a big drop. Looking for the DBD or DBR. Nice pattern here.
Long over break and hold of top trend line/ Pivot at $3.41
Short below 3.16
Until $3.41 breaks I will only be watching this. Big target still remains $4. Patience will pay here.
Keep in mind we are sitting at a weekly support level so I expect a big...
$DIS in channel and is one of the only tickers I’m watching as of now. Still see lots of value.
Sitting at area of high confluence just below bottom of trend line and $145.80 support.
Great risk to reward play… .Risk .30 cents for $4 to top of channel IF the market can bounce.
This morning we rejected top of supply at 147.50 so we need this to reclaim supply...
$PWSC
Is a ticker to keep on your radar. Small cap stock that I see lots of value in at the moment.
Currently in a triangle pattern on the 4HR. Sitting just above the bottom trend line.
Also looks like a falling wedge on the 15 Min chart, watching this end of day.
PWSC has shown lots of strength recently during the market sell off & volatility. Either way...
$BNGO another stock on my watchlist. Touched weekly support and bounced.
Looking to catch the bottom and confirmation of reversal only if we can reclaim $4 and hold. Slowing momentum on the daily chart as well.
Set alerts over $4
Swing targets: 4.15, 4.3, 4.56,
Puts if $4 cannot hold
$PWSC another setup I’m available watching currently. Last week it touched weekly support and bounced, looking for continuation to the upside.
Broke out of pattern today and reclaimed the $20 level amid the market selling off. We will see how this holds later today and the rest of this week..
🎯Swing targets: 20.54, 21.04, 21.52
As long as $20 holds I will be...
$FUBO looks like its starting to bottom out at the $20 psychological level. Grabbed a $20 call with time.
Not a bad place to grab some shares either if your bullish IMO
- Strong bullish hammer candle on daily indicating buyers are present at this weekly support.
-Fubo got smacked from $35 before earnings to $20, great risk to reward play.
Swing targets: 21.3,...
$SOFI
Showed strength amid red market Friday. Held the $18 psychological level as well. Not a bad place IMO to pick up shares either if you're bullish long term..
- Bounced off 4HR trendline
- Held the $18 level
Calls as long as 18 holds
or BTD around 17.30
Will monitor XLF, IWM, for sediment.
Targets: 18, 18.50, 18.84,
My stop will be a 15 min close below...
