This stock has only been actively traded for about 3 years. And so. IMHO. the Weekly chart is not going to be very helpful, which means it's better to trade it short term. From Daily chart perspective, price just bounced of the $28-30 congested area and there seems to be a stronger support at $20 area. Furthermore, it has broken down of a triangle. So, a short...
Per the weekly chart, FEYE bounced off the 20MA as well as $18 support area back at the beginning of the month. On the Daily chart, price broke out of the flag pattern a few days ago, and since then it's gone side ways. Nonetheless, it looks to inch up to target profit 1/ $24 area within a month. To reach target profit 2/ $29-30 area might take a longer time....
Up sloping flag pattern on CSCO's Daily chart, and currently at resistance. We should see a spike up really soon. Target profit 1 is $52, next resistance. Target profit 2 at $54 is unlikely. However, if buying pressure proves to be strong, then this is the next resistance. Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart...
This is going to be a relatively risky trade as the only justification for this trade is the forecast on the formation of the cup pattern. What's supporting this pattern is the strengthening of momentum on Daily. The MACD histogram on Weekly is still weak, but also strengthening. Hence, there's only going to be 1 target for this trade i.e $300 Disclaimer: I'm...
US Dollar has broken out of a down trend. It's not out of it yet but there's a higher low at end of Feb. 20MA is above 50MA and this means a short term up trend is in place. Today's candle should close above yesterday's, signalling a reversal. I'm forecasting a stronger Dollar but for now, target profit 1 is $93 area. Target profit 2 is $95 but that will be...
Daily chart showing an upsloping pennant pattern. We should see a short burst of at least $5-6 up move in the next 1 to 2 weeks. Target profit 1 = $160 Disclaimer: I'm not giving any trading and investing advice. Just sharing my chart observations. If you have any symbols that you'd like me to analyze, feel free to drop me a comment. Thanks!
AMZN has been in a range since last July. The doji/ hammer on 5 Mar confirmed the bounce up, and now is shaping a potential right shoulder on an inverted H&S. Would like to see it correct to $3310-3330 for a better entry. Target profit 1 is in the mid of the range with clear resistance at $3220 area. Target profit 2 is the top of the range at $3400...
What a chart pattern we have on the Weekly for SBUX! Breakout of an inverted H&S, then slight retracement and never really looked back since. Right now it seems poised to surge up after being in kind of a range since the turn of the new year. Target profit 1 is probably around $120 area. Not setting any target profit 2 as things does look bright for...
GE has had a good run up since it bottom out at about $6. With lots of news about EV, it seems GE can go higher. But before that, it is always healthy to have some form a retracement. Based on the 1H chart, a good place to start shorting is between $13-13.25 Target profit 1 is $10.50 area/ 20 MA Target profit 2 is $8.50 area. Disclaimer: I'm not giving any...
MRK has been in a range since end of Dec'18 until now. Last week's bar was a doji at the bottom of the range. The Daily chart is showing me an inverted H&S with a potentially weak right shoulder i.e. buying pressure is strong! Target profit 1 is a near resistance as well as 50MA i.e. $77 area. Target profit 2 is the top of the range at $85 area. A little...
A small inverted H&S on 4H chart. Doesn't indicate a strong reversal, and so the short trade back up to 1760-1770 area. Momentum looking strong as well. Since it is a short term trade, there''ll only be 1 target profit. Disclaimer: Not giving any trading and/ or investment advice. Just sharing my chart observations. If you have any symbol that you'd like me to...
This is KO's weekly chart. The current bar is still open and it's only Tuesday. 3 more days to go tp see if it will end up being a shooting star pattern on a trend line retest. The MACD histogram is showing weakness as well with a potential cycle peak. Also, we had a lower low today vs yesterday. Forecasting a retrace back to $52 area in the next couple of days...
Ford is broken out of a long down trend line (since 2014!). Also broke out of a recent $11-12 resistance. On the Daily chart, it also broke out of a upsloping pennant pattern. Fundamentally (I'm not a fundamental trader but...), they seems to have some winds going for them as well. So, target profit 1 is set at $14. Usually, with such momentum pushing the...
MOS has had a good run up since the low of $6.50 at March'20. It didn't have much pullback from $6.50 to $33. Nothing lasts forever. Judging from the Weekly chart, $33 area has a been strong resistance and it doesn't look like it will break above it any time soon. We should be able to enter at a better price when it retest the $33 resistance again. Target...
This is SPY's Daily chart and it looks to be heading towards 370-372 level very soon. The cup pattern has been formed, and we will see what kind of handle pattern it turns out to be. Might pullback to 385 area or towards 50 MA. With the break of the up trendline, it's usually a sign of selling pressure. 370 is definitely target profit 1. 350-355 area, which...
This is a HD's daily chart. Had a false breakout, and it is now retracing. Price also bounce of 50MA on the Weekly chart. Looking to short it when price reaches 270 level. It should also coincide with the 20/50 MAs. Stoch RSI should also reach overbought (80) level. If price continues to trend higher, then it might go back to 280-285 level i.e. the high of the...
ACB has taken a real hard beating; down from high of $150 to now at $11! Nonetheless, I think it has seen the bottom at $4 back in Oct '20. Per the Weekly chart, I like the 'rounding' price pattern/ forming of a cup pattern..which means it should head back up in the years to come! So if you're investing, this is a good stock to look into. From the Daily chart...
SPR has broke out of the $41 resistance and is looking to go towards the $55-$60 resistance. There's an inverted head & shoulders pattern on the daily chart (granted! this is not how h&s/ inverted h&s are being interpreted but per my observation, it seems to be equally effective as well), with a weak right shoulder..which is a very good sign of a strong break...