TK0421

TK0421

Bearish rising wedge daily chart has broken down recently and back testing the trend line. Objective short entrance. Negative divergent continue to grow on both RSI and PPO.

TK0421

PLTR is coming back down to the bottom of the recent trading range. $23 is a solid support and it is objective to go long here with stop should be placed below the trading range according to your upside target. On hourly chart, bullish falling wedge and oversold on RSI. Just swinging back to the top of the range is well into double digit potential gain. As we all...

TK0421

AAPL gapping up above the down trend line and making a perfect back test. From the technical perspective, it is an objective long entry. I would enter this trade with a tight stop. If AAPL pushes up to ATH anytime soon, it is very likely to extend the negative divergent. Moreover, it gets there that quickly, it will most likely to be overbought as well. To be...

TK0421

I understand the type and momentum on this security but it is next 10%+ move is more likely to be the downside than upside.

TK0421

Financial sector, XLF, has been outperforming other sectors in S&P as what seems to be a sector rotation is taking place. Money is coming out of technology to more defensive sectors recently. Nevertheless, when I look at this XLF chart, it is screamingly bearish. Bearish rising wedge with negative divergence on both PPO and RSI. It is pretty extended as well. It's...

TK0421

As MJ has corrected 42% from the recent high, it offers an objective long entry as it is bouncing on triple support: down trend line since September 2018, horizontal support, and recent up trend line since November 2020.

TK0421 Updated 

Here is my follow up update on original CRSP swing short trade idea I put up on January 14th. On this post, I am zooming out to weekly chart, looking at longer time frame to capture cyclical trends. Going back all the way to 2017 inception period, the higher than average volatilities are pretty easy to notice. It moves up really fast but also coming down. Every...

TK0421 Updated 

KC=F has been in a vicious bear market just like many agricultural commodities. There is a down trend line since May, 2011. It is getting close to the apex of the symmetrical triangle as well. If it breaks up, it will be pretty bullish and it may be the start of new bull market in Coffee.

TK0421

Here is hourly chart of CLOV. Clear bullish falling wedge and positive divergent on both RSI and PPO. It is in over sold territory on RSI as well. Breaking up front the wedge would be the first objective entrance. Back test of the wedge would be the second. Stop should be placed according to the upside target. There is no guarantee but it may be worth taking a...

TK0421

As Nikkei 225 keep pushing higher, it continues to extend negative divergent. Given the size of divergent, it projects pretty large drop in Nikkei. Break of current steep rising trend line should do the trick. Have a good trade everyone, T.

TK0421

On hourly chart, there is clear bullish falling wedge. Objective entrance when it breaks out of bulling falling wedge. If it gaps up, maybe take a small position in case it rips, but otherwise add on when it back test the wedge. Oversold reading on RSI and divergent low additionally increase odds in favor of bounce here. $31.18 is a solid support. Probably set a...

TK0421 Updated 

NIB (cocoa ETN) is pushing against the top of the trading range. Cocoa has been consolidating for around two month now. Since I am long term bullish on agricultural commodities such as cocoa, if/when the top of the range is taken out, I expect quick run up as most of these commodities tend to have unidirectional run. First target is $32.80 range and next is the...

TK0421

Here is the updated chart on CRSP short trade I posted on January 14th. It's been down 23% since the date it was posted. So far so good. First target was hit today and managed to keep above as I have expected. I expect more downside in days to come. XBI sector can break down anytime too now. Literally one red day will do. My next target is the bottom of the...

TK0421

Here is the updated chart on JPM short trade I have posted on January, 12th. Brief pop above the resistance level to clear out any shorts. Turning around and dropping down below which proves to be a bull trap. From there, pretty steady down trend day after day. Today, hitting the first target. 10.5% down from the high. Next target is $117.20ish level and reaction...

TK0421

Semiconductor sector seems ready for a trend change. Since the March low, the sector has ran up more than triple digit percentage. As much as the sector is damaged less than retail and hospitality, it is very cyclical sector and it does get affected by business cycle. Semi is the canary in a coal mine of the tech sector (XLK), so when this turns, it will be a...

TK0421

MSFT is breaking out of side way trading range since June 2020. It certainly looks bullish on the face value but will it stick. Trading right before the earning is tricky enough but it will be a bull trap if it does fail. If it does turn out to be a fake break out, it will be very swift fall to mid range of the range around $217 support and ultimately to the...

TK0421 Updated 

On the January 14th post, it ran into the resistance after breaking out of the wedge. I put out one of the two scenarios. Breaking though the resistance and going up til the next target or quick pull back to the support level and breaking out. It pulled back perfectly and defended the support and today finally advancing to the short term target. Quick 20% profit....

TK0421 Updated 

On the daily time frame of CORN, there is a nice looking bearish rising wedge. It has been a quite a run and now it has gone up too quickly. RSI is reading extreme over bought. PPO is poised to make a bearish high level cross over. Also, when it falls back into the price channel, it will be very bearish as it will be a bull trap. I entered long $11.60 range so...