As much as I am bearish on TSLA mid term (6-12 months), in the coming few weeks if overall equity markets can have a bear market rally that could easily push TSLA to $1k-$1.1k. Beta has been closer to 2.5 lately and there is a resistance treadmill formed around $1000-$1100, depending when price gets to the overhead trend line. So there are ways to get there. If...
Weekly chart is showing negative divergence with PPO, indicates slowdown in the trend, meaning price was still moving up but at the slower momentum. It’s a decent indicator of trend reversal. There is small possibility for another ATH (only bc Buffett invested in energy sector and I am not sure when exactly energy will peak - in the next few months at most), but...
AAPL has traded in an uprising channel for a long time now. I’m hoping for a breakout to the upside by mid to late June. My personal PT is $360-$380 range as soon as mid November, or as late as Q1 of 2023. There is a lot of uncertainty in the markets now with slowing economy and fed tightening monetary policy so this upside is a bit of a wishful thinking, but in...
How low can it go? Low. ARKK is in deep bear market territory. It could see possible bear market rallies but overall on weekly/daily basis the trend is down. FED hasn’t even started rate hikes or tightening and etf is already down over 50% off it’s ATH. I am expecting at least $38-$50 to be reached (pre covid trading range), and most likely eventually even lower....
In my previous post I outlined double top formation which suggested price should at least drop to $170. It happened even sooner than I expected. What can be expected next? Well, now stock itself is deep in bear market territory. There aren’t some obvious technical set ups, but after such sharp declines it’s reasonable to expect sharp rallies (bounces). I am...
On the monthly chart it's very obvious that gold created a almost decade long base where it traded sideways. Typically such moves indicate accumulation of the asset, and on the charts look like "cup and handle" formation. Over last year and a half price has been in the "handle" part of such formation. It is very bullish long term for gold. Outside of the chart...
Gold has been consolidating since Aug of 2020, after prior upwards move. In my view long term price should increase substantially, primarily driven by inflation. In the short term I am expecting a move to $195. Prior to this move I am seeing a decent possibility for price to reach about $157 which could coincide with Fed's rate hikes and or stock market decline....
2-hour chart printed textbook H&S formation. Neckline has been broken and price might retest it before it heads lower. $15,300 is minimum downside price target, it also could head much lower. If neckline is retested that would be great risk/reward short entry.
Trend line going back to March of 2020 is getting broken. PPO printed strong negative diverge with price action. Price target of $1700 still in play. Last time I posted I was expecting downside to occur at some point. Now I’m much more confident that top should be already in. Looking for price to print lower low and then lower high to confirm top is behind us.
Price kept climbing for last few months within a channel making higher highs but every time it touches upper part of the channel it retrieves back. PPO is not following price action and is making lower lows/ lower highs. It seem very reasonable to express pullback to lower part of the channel, there is also 50 MA around $420ish. My minimum price target is $435,...
ROKU printed textbook double top on daily chart over last 10 months. I am seeing about 10-20% upside from current levels to $365-$405 range before stock goes lower. Height of this double top ($170) suggests downside target of $130. Old ATH from last year around $167 can be visible on the chart and should act as a support for a bit before price eventually reaches...
Over last 3 months Apple stock daily chart printed very similar set up as Tesla stock did in Jan-Feb of this year. If Apple will follow thru the same steps it means top was already printed in early September, and we should see decline in the upcoming months. This is how Tesla developed (best seen in hourly chart) Trend up: 1. Stock price ran up fast to...
I have seen similar price action set ups on many other charts and I wonder if it plays out in the same manner here. If it does, price should first reach $46.7-$47.1k range, then bounce to $48.3k and then move down to $44.3-$45.2k range on hourly chart. All above price targets should be reached within few days.
I originally spotted daily trend reversal few months ago (see my linked post). Price since May have been moving in down sloping channel. I expect price to keep declining: $231 - minimum price target $213 - most likely scenario $197 - also very possible, but price might not dip that low. Would be an amazing buying opportunity. On weekly chart there is 50 DMA...
AMZN keeps consolidating for over a year now. Price tried to breakout in July to the upside and failed. I was a bit skeptical of that breakout in all of my previous AMZN TA analysis. After deep pullback price recently re-tested $3555 area, and is pulling back again. I am still expecting price test of the bottom boundary of this consolidation zone ($2900), and...
Daily chart created negative divergence with PPO. Typically that indicates weakness in the trend. Interestingly this happens to be at the upper boundary of the channel that has developed back in 2020. Unless price bounces back this afternoon or tomorrow morning, it’s reasonable to expect some sort of the pull back. Most logical level would be just below $144...
Apple took out ATH of $145.09 and closed multiple candles above that level. This completely removes H&S formation out of the picture, and now stock is trending in an uprising channel. Bottom and top trend lines of this channel should be watched closely and eventually price will make a breakout and we either will see acceleration of the price or a correction to the...
Amazon broke out to the upside on July 6th from a year long consolidation. Typically after such breakouts price does come back down to test what used act as a resistance, in this case $3550, to establish support there. I haven’t been completely sold on this breakout, because from technical point of view it looks awfully similar to Apple’s false breakout earlier...