TraderhrTradingCourse

TraderhrTradingCourse

TSLA chart -- key support and resistance levels

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$TSLA is flagging below horizontal resistance at 710 area, which if broken in the coming days could reverse the trend...

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After 6 months $SPX ($SPY) is back to pre-COVID-19 and all-time highs... $SPX daily chart below (-35% FEB-MAR, +54% MAR-AUG)

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Technical analysis of $TSLA #stockchart suggests a high possibility for a short term correction... support levels annotated on the chart below:

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$TSLA RSI at ~84 -- high possibility for a short term correction... Fibonacci retracement levels are annotated on the chart...

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Bollinger band in $SPX $DJIA $NASDAQ suggests a period of consolidation/contraction is ahead of us.

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SPX update with support and resistance levels -- loss of 3000 means likely another selling wave toward 2980, 2940... SPX 60 min chart:

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Moderna, Inc. (MRNA) – after 3 weeks of correction and consolidation period the stock broke out of a bullish pennant today and retested resistance in the 65 area which if broken in the coming days could lead to new momentum with the target in the 80-85 range. Initial stop loss 57.5.

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S&P 500 Support Levels to watch this week: $SPX Daily Period Chart:

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$TSLA -- potential long trade if price breaks intraday consolidation at 860, target 880.

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$TSLA consolidating in an ascending triangle pattern on intraday period... looks like $TSLA is ready for a 10% move...(up or down)...

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The Home Depot, Inc. (HD) is approaching a potential breakout point at 236.5. Target area 240-244.

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Facebook, Inc. (FB) broke lateral resistance (an all-time high at 222.75) and continue higher in strong momentum which could be extended into the next few trading days and send prices to retest upper Bollinger band around 228. For potential entry watch for confirmation of trend around 223.7.

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Nordstrom, Inc. (JWN) likely to continue higher as it broke out of consolidation at 38.7.

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ONEOK, Inc. (OKE) – watch for a break out of the ascending triangle at 72.6.

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NIKE, Inc. (NKE) is consolidating in a rectangle pattern over the last 4 weeks with resistance in the 94.8 area. Break of that resistance if potential long swing trade entry level with targets at 96 and 97.5.

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Bed Bath & Beyond Inc. (BBBY) is approaching lateral resistance of its multi-month consolidation pattern which if broken could lead to new momentum toward 16.5-15.5 area.

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Cisco Systems, Inc. (CSCO) broke support of the bearish pennant formed over the last 3 weeks and is likely to continue with a decline toward 43 areas.