The momentum is declining, we are at an all time high and we can see an open window below. I think that this is sufficient to watch out for a correction downward.
Within an intact uptrend we have corrected the rise since January by 50 % now and may continue the rise.
The trend is upward since November and has been corrected in January already. After the little attempt yesterday and the renewed rise today I assume that we can continue to rise. We are still within a Fibonacci based support/resistance zone. Its bottom is the October low and the top the present January high. May be it will take some time to get decisively above...
The spark on Monday has been downward retraced now. We are testing the top of the trading range that had begun on January 8th, Now this top may be seen as a support. A renewed uptrend may be the result of the spark now. There are 3 obstacles on the way up but all of them would implicate a good profit.
Within an intact uptrend and hectic trading we have we are undertaking another attempt to correct the rise. Now we have reached the top of the December trading range again that can be considered to be a support now. It has additional importance as it had been a tested resistance zone in August/September already that had been proved by opening a window downward on...
After the impulse rush down 1 week ago it is no wonder that we could manage to fall below the 1 month old trading range. Both the rush and the breakout signal the will of the market to correct the long rise since September. The overbought situation was to strong and many may be willing to take profit now. It is not excluded that the rise of the Bitcoin will have...
The mid January rise has been corrected yesterday. But we had got a new high since September. The correction of the (successful) breakout is to be sen as healthy and is not annihilating the signal that has been given by the breakout on January 19th.
All boats rise with the flood. This is true for Tesla as well. We are in a broad sideward range and with a positive market sentiment it may well rise from its bottom for a while.
2 days ago we have exceeded the bottom dd 18th August which is a support now. Nothing else to say. The principle is KISS here.
Yesterday we have hit the green bottom line the second time in the current cycle. This line has its beginning in mid September since when it has been a temporary bottom repeatedly. If you look carefully you can even see it emerging as soon as May 2023 even. By Fibonacci count we are in a support zone as well. Thus I suppose that the line will hold this time once...
Bayer has reached a Fibonacci entry zone after yesterday's fall. There is a window to be closed that has been opened at the fall on November 20th.
Yesterday the red candle can be seen as a signal that the price won't rise now immediately. Today Paypal has opened lower despite a small recovery of the overall market. The window that was open from September 20th to 21st had been closed meanwhile but may be considered as some kind of an exhausting gap in the view back now. I see a consolidation around this level.
Less than 1 week ago we exceeded the the current trading range in which we stuck since mid November. The first rise has been corrected on Friday and yesterday the uptrend has been confirmed. As long as the momentum is lasting we shall see higher highs. The overall market rise is supporting strong trends.
Since November 1st we have tried to correct the uptrend a fourth time now. First was on 10th, second on 17th and on 22nd the third one . The 3 previous have failed. Now we are amidst the fourth. Each of the tests have ended with higher lows, i.e. they have confirmed the uptrend. The whole trend is almost 2 month old now. Due to one confirmation after the other I...
The high of October has been re-tested today. It serves as support now and is valid the more as is coincides with the 2 38% Fibonacci levels. A correction of the December decline seems to be likely.
Ahead of the important supporting MA we seem to halt amidst an open window. If we fail to close it we will likely go back to retest the all time high again. The 78 % last controlling the rise Fibonacci level had been taking out already last week.
We have stopped at a former triple bottom which has been tested as a resistance twice now already. So it may become a double top now. This the more that it was a top on May 23rd already. The Moving Average is another resistance. On November 14th we have opened window that may want to be closed. Mind the trading range from mid March to 20th May which you can see...
The big window that had been opened October 25th has finally been close now and the upward pressure is dwindling. That's why I prefer the close of the 2nd November window now instead of the continued rise to close the 24th October upward window. The risk is that the bears may be unable to close the window that had been opened yesterday with the spike up. I...