A spike of red clusters in futures market points at bounce up.
Price lost its impulse after breakout above green line. Huge decline on background comes into play. Shorts are more preferable.
“Good performance ... Earnings are higher than expected .... the number of subscribers has doubled…. the company has benefited from the coronavirus ... it will hit 100 soon ... blah blah blah blah blah blah “ In recent days, we have seen an increase in activity on the Peloton Interactive PTON stock market. This activity is primarily due to the profits, which...
Prepare to breakdown of up-trend-line with that signs of weakness around 50$
Moreover, fundamentals are not bad.
1) Red channel in action + 2) Strong price/volume action = Expect 2000
Long term downtrend is going to breakout upwards
Volumes tell about FOMO, culminating style. I expect at least pull back
The trend channel in danger with that potential Distribution zone on background
New downtrend channel is forming
Central line is under danger. Too much weakness overhead.
They should produce an intraday short-term up-trend (bounce up withing bearish trend on higher timeframe)
Price has more odds of breakdown from ABC triangle. In this case, the bearish move toward point D could develop.
Note, point 3 is in the middle between 1 and 2. The movement toward line D is looking more realistic now.
Market designed to make more losers than winners. That is why we have such moves. I call them SLKs - Stop-Loss Killers. When passengers kicked off from wagons, the train-driver can move higher.
Analyst stock index for June 03, 2020 In this analytical overview, we consider the situation in the stock index s&p 500 index - a popular financial contract that displays the “health” of the stock market with high accuracy. I use the data from CME. On this chart you see a black horizontal line, it marked an important level of 3,000 dollars for the contract....