As expected with the strong momentum of oil RIG pushed out of the the consolidation period and broke out. it reached a high of 4.31, and pulled back to the new support level of 3.71, which was previously the resistance level. This is a perfect breakout, and pull back before it takes off. RIght now it presents a great buying opportunity. Dangers and cons: The...
Bitcoin currently is sitting right at resistance. There is early signs of a lower trend channel, which we should bounce from. The true test of the direction is what Bitcoin does after the bounce. Does it breakout of the lower trending channel, or does it pull back.
We have trended lower from all time highs. In my previous post i suggested buying at ATH, but a nice risk-reward opportunity has presented itself here. Buy on the breakout above structure, which confirms the bullish sentiment, and sell as we appraoch ATH
The NQ is building an ascending triangle. Within the next Week or so it should steady towards ATH, and breakout into another major trend. I will set my buy limit right above ATH, with a stop loss below the nearest support.
RIG has lagged major oil players such as xom. Xom was able to breakout of the consolidation in the 55 range to be past 60 dollars again. RIG on the other hand has failed to breakout past the 3.71 resistance level. This is on the back of a major move in oil prices up. When oil was at 64 a few weeks ago RIG reached 4.5, but now that oil is at 65 its trading at 3.5....
Todays drop, as expected is to the bottom support line of the ascending triangle that has been building up. I think this is a great time to get in early on the breakout. If not you could go with the flow, and wait for the market to top the resistance on high volume and break through the highs. I see a big market move coming later this month or early next month. I...
After a few months massive market moment the russell 2000 hit a wall and went into consolidation. I think its setting up for a break out any time these next 2 weeks, which should push up towards all time highs. From the technical perspective it seem volume is trending down, which is bullish if the market is consolidating. Once we see it push out of this wedge...
AMD has taken a dump but it appears to building an ascending triangle. This indicates momentum up, with a breakout past the $83 resistance. From there we push higher. My recommendation is to wait for the breakout past 83, as long as there is high volume. it appears the breakout might align with its earnings date, which is coming up soon. This should act as a...
For the past year Intel has taken a beaten. This started when Intel announce they will not be delivering the new smaller nano meter chip. Subsequently after that earnings report the stock dumped 20 %. Since then the stock has trickled lower with a few up ticks creating lower lows. Over the past few months it has a created a descending triangle, which...
With the massive influx of money into the system it is no suprise that gold has been on a rip over the last year. It recently went on a down trend, although it appears that its above to explode higher, especially with the stimulus bill being passed.
It appears the side ways activity in coiling up energy for a further breakout. Currently the stock is right at the edge, which we should expect for it to breakout tomorrow just in time for a good Christmas gift
Based on the long hisotrical pattern it seems like AMZN is about to crash. 1. Historically the crash comes after wide divergance between the moving averages. 2. There is a crash everytime the upper trend line is touches.
The stock has had a strong trend for the past few day. It appears that we are currently at the lower of this long term trend. This should offer a great risk to reward tade to those willing to buy this relative bottom. My Target for the next year is 1300.
It appears that RIg is attempting to get out of the 3.70 resistace. Its made multiple attempts now, with the last one quickly being rejected. It appears the stock is moving slowly towards resistance, which should be enoug energy to smash through. Now it needs a catalyst. Oil was pushed down after europoors decided to go on lock down again. There was hope the opec...
It appear we are about to break out of this wedge and get out of this lower lows trend. If it breaks out of this bull flag we should see 80 in no time.
Next week is extremely important for the nasdaq. I expect a drop to the lower resistance, and a subsequent rise, with a possible breakout
One of the legendary traders once said to not buy a stock doesnt go up when the rest of the market is going. This is one great example. The market is up almost 1%, while this stock remain a little under 0%. Partially to blame that the stock is stuck in a symmetrical traingle, which seems to get longer and longer, as each major end point is reached. It might move...