Nike reported earnings on the 20th after the market close. The stock increased by more than 12% the following day.
The price of the stock revisited the resistance level that was rejected in June and August of 2022. Before the rejections, this level acted as a support as seen in March and April of 2022. In this chart, the support/resistance zone is marked by the...
During this Semiconductor ETF's rise to the top, price retested the high 220s and low 230s zone multiple times. This price range acted as a zone of support (marked by the green box). Since august of 2022, SMH price action has struggled to rise above this zone, turning this zone into resistance (marked by the red box).
Additionally, SMH's downfall (beginning...
Since October of 2022 we have seen an interesting zone form in the SPDR Energy Sector ETF. This zone is marked by the yellow rectangle in the chart. We noted four support bounces in this zone, a breakthrough of the zone, and two rejection bounces. This support/resistance zone is one to watch over the coming weeks. A rally into the yellow zone is one to watch...
We observed heavy selling pressure in the 122.8-124.1 range for META. Since the beginning of December, META has rejected four times at the yellow zone. If META reaches the yellow box zone, watch for price action consistent with the last four reversals.