Nobody knows. Despite the good fundamentals (revenue did not drop in Q2!) the stock continued the consolidation it started pre-earnings. The good news is that RSI is still relatively "hot" — RSI 50 level has been acting as on/off switch, so let's see if TSLA flips it again. The triangle we are in currently is probably not to be taken too seriously as TA pattern...
After stellar recovery in last few months AVGO is making legitimate attempt to stay above 320 and probably break through the long-term 330 ceiling. It's got pretty strong tailwinds too:
- AAPL is going to the moon and beyond
- semiconductor ETFs are hot (again)
- it's doing workforce "consolidation" which will surely make shareholders happy
- dividend...
Beginning of June the 3 year long upwards trendline support was penetrated, then failed the re-test. It's officially resistance line now and is being tested once again. Before that we had very authoritative reversal which bounced off the long-term downard sloping resistance. This time the re-test looks much weaker. Notice the 1000 day MA acted as support during...
This is H&S with 10 year base so it's slow moving. We see yet another retest of the neckline (resistance) after the breakdown early March this year. If the 80 level resistance holds, the H&S target is ~60 which is whopping 20% move. Once again — the pattern is with 10 year base so it won't happen overnight.
I saw on twitter message going along the lines that silver jumps faster than gold and falls faster when the rally is over. seems to be partially true.
when silver rallies, it rallies hard, but the inflection points often don't match
interesting how long-term silver is trending to be cheaper