RedRock7841

RedRock7841 Updated 

Hang Seng Index has been in a downtrend for last 4-5 years. The index bottomed in Oct 2022 when China uplifted the COVID restrictions. It has been correcting the first swing since last one year. The index is approaching a critical Fibonacci level where the wave 2 should end. The level has high correlation with the multi-year trendline as well.

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Silver is getting ready for a move to $50 levels. The momentum will pick up once the down-sloping channel is broken. A trade can be taken now with a stop loss at 20.45. Gold has already broken out, silver looks ready to follow. Indicators also imply the same thing: 1. MACD moving average is rising, and is now up above the zero line 2. RSI is above its RSI...

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A diamond pattern is formed on the Alibaba weekly chart. Diamonds get formed at times of trend reversal. Breakout from the diamond pattern will bring momentum to the stock. There are signs that the down channel is also getting broken. A trade can be taken now with a stop loss at 70.87. Possible upside targets are T1: 169, T2: 232 and T3: 334.

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Looking at the monthly chart of Palantir. Stock should start showing topping signs around 27.16 Reason: 1) About to hit the resistance zone 2) Measured move from the break out coincides with resistance zone 3) Coincides with the fifth wave move target on the Fibonacci levels. 4) On the weekly chart; the ADX line is dropping lower as price continues the upmove,...

RedRock7841 Updated 

A close above the previous week's high will set the counter up for a move to $15. To maintain confidence in the setup the price should stay within the channel. ADX is showing strength in the move-up. An entry can be made now with a stop-loss at $3.42.

RedRock7841 Updated 

There is an inverse head and shoulder getting formed on the ARKK weekly chart. The pattern materialized after a weekly close above $54.5. The target after the breakout comes to $98 levels. The strength of the move can be confirmed by: 1. Rising MACD and RSI Moving Average and 2. ADX is above 20 To maintain confidence in the setup, i would like to see the...

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Nifty Media Index is showing strength. Within that TV Today Network looks ready for a move towards 400 levels. Once the parallel channel shown in red breaks, ADX suggests move up should be strong. Support is at 220 levels.

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Rossari BioTech has a bullish setup developing on the weekly chart. If stock moves above 835, anticipate first target to be 1069 (i.e. 28% upside), second target to be 1156 (i.e. 38% upside). Entry at breakout of 835. Three Reasons to be bullish: - MACD has been showing momentum build-up - Price is staying within the channel - Waiting for third one to occur,...

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Trend is currently down. Which if persisted can take stock down to 54.57. Become bullish ONLY if 265.13 is crossed. If crossed, move will be very strong on the upside. It will make an inverse head and shoulders setup, which takes stock up to 877.

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We are looking at the quarterly chart of Nasdaq. I get four signs to turn cautious and that the move is maturing. - RSI Divergence - Upper end of the Bollinger band - About to hit 4.236 level of the Fibonacci - Also about to touch the upper end of the parallel channel Max upside is up to 20775 and downside will be under 10K. The index may make one more all time...

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Hindustan Zinc is setting up for a breakout of a multi year inverse head and shoulders pattern!! When price breaks out up of 339.3 on a monthly closing basis; anticipate an accelerated upward move which can go as high as 952. Stop loss can be set at 297.5. If stop loss hits, anticipate one more swing low to 216 levels before stock resumes uptrend. Stock also...

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Stock is in a downtrend. Anticipating price to come within the purple box before making the next long term swing up. Load up the truck when price reaches the purple box! Risk reward will be favorable. Idea will be invalidated if price breaks on the upside of the triangle.

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Technicals suggest NVDA may be making a long term top. There is strong divergence observed on the monthly chart and the price is hitting upper end of the trendline. There can be slight overthrow out of the channel. However a sustained move outside of the channel is unlikely.