DAX index has broken through previous resistance. Cup and Handle formation has been over 2 years so this is a powerful breakout. Stops at 16,390 and will keep adding to the position in the year. On the daily, we had a retest of 0.236 Fib level and that coincides with previous resistance. Seasonally DAX performs well during the 1H of the year.
CHFJPY has broken off from channel. I believe this a false break of the channel and expect CHFJPY to come strong at the end of the year. There is no carry trade unwind in here and as Europe is in recession, CHF will remain bid. Only issue here can be if the Suisse Central Bank comes out selling CHF to buy other currencies to ensure that the currency does not...
AUDUSD is looking bullish and seasonals in play with Santa rally. The pair seems to be among the top who are enjoying the Fed pivot. Aussie data has been robust but down the play, I expect all the CBs to start cutting. For now, all roads look clear to test 0.685 resistance.
SMCI is breaking out Right Shoulder high. This is a very bullish development and the target would be height from the neckline to the head on breakout from the right shoulder. SMCI is a semiconductor play and overall momentum in this sector is very high right now. I will go with the break today.
ARKK Innovation Fund is looking to test neckline. Break should set it free for 71 where we have some resistance. Yields are going lower and momentum is returning with growth stocks.
BItfarms is another Bitcoin miner that is having huge volume surge and broke through previous resistance. It tested support yesterday and I would trail my stop just below 2.13. BItfarms have invested heavily into newer machines to tackle Bitcoin halving and they are expanding into Paraguay. The location is well thought out as Paraguay has better governance when...
IONQ has tremendously potential and have partnership with Microsoft, Google and Amazon. This can be the momentum stock that everyone wants in on in the future. For now, ascending triangle break (bullish close) will set it to target 20.
Coinbase has formed a beautiful cup and handle or is it a Triple Top. If we get a bullish break and then retest around 115-116 on the daily, we should be set for 190 in the coming months. However, if can be argued it has formed a local triple top. Difficult to tell right now. Fundamentally, I am bullish on Coinbase but price action dictates. Momentum is on...
Looking for a channel bounce for USDJPY. Yields have sold off a lot and expecting a bounce this week, which should favour USDJPY. This a weekly outlook and valid until US unemployment data on Friday. Stops are around low 146
Gold has been on a run after Israel Gaza conflict. Now it has been broken H&S neckline. I would be a buyer on retest of the neckline or a breakout of all time highs
Nikkei has been struggling to get above 32800 and has formed a H&S and had neckline breakout. Prices should find support around 32500-32300. Head and shoulders at top have around 70% of success based on my trading statistics. Good luck :)
Lemonade in an insurance company that has a good global reach. It was a popular stock couple of years back but now it has lost some of its lust. Currently, its consolidating around 13.85 and 17.70 range. One to add to the watchlist, as a daily break or weekly break with 10 day and 20 day moving average behind it can be good momentum.
NZD has announced no more rate hikes and higher for longer. Fed is done and not expecting any fireworks from FOMC tonight. US data is slowly, risk tone and seasonals now should favour Kiwi. Kiwi is not widely owned as per CFTC data but expect that to change in the coming days. China looks to be stabilising, shipping data suggests so. Options markets are...
That is a very bearish monthly candle for DXY. We might see a jump back after January but the trend is on the downside now. Lots of traders are long dollars so the pain trade has to be ever lower DXY. Look at the CFTC dollar positioning. There is a beautiful channel support around 96, bears will be targeting that zone over the next couple of months. If PCE...
Spanish top 35 index is clearly breaking out to the upside. Its broken out of the flag pattern weekly and retest will be a buying opportunity.
Tesla has broken out that rectangle after the initial 10% move and today retested. Stops can be placed below the rectangle and we can see a move towards 290 in no time. If that happens, will update the analysis because longer term Tesla chart is looking extremely bullish. Fundamental Key Takeaway: Tesla is undercutting the competition and new entrants like...
SSYS is an industrial 3D printing company. Price action is suggesting we have formed a bottom around 10. If we have a nice close bullish close, above 11.37 in the next couple of day, then the bottom should be in for now. Stop can be placed below 10.55 and first target is 23.6% Fib at 12.70 (there is a gap there which will acts as a magnate for...
Tal Education broke out of the range it has formed over a year. This stock popped last week due to start of coverage from Goldman Sachs. It operates in after school tutoring in China, which is a norm in Asia and a huge market. Looking for a retest around 10.30 - 10.50. Stops can be placed below 9.50 (10 weekly EMA). No traffic till 17 but we can take 16 as...