Elon Musk has been on a tirade against Bitcoin on his twitter - but the signs of weakness were on the chart well before he started tweeting negatively about it. Let's take a look at what happened, and what to look for next. First lets break down the price action concepts on this chart. Weekly Swing Failure - this was a swing high on the weekly chart that price...
ROKU 15M I ROKU has been squeezing tight after reporting earnings and it is trading within a wedge on the 15 minute time frame. RBLX 15M I Performed well after its recent earnings and investors are seeing as more than just a game. Looking to trade a breakout from the current downtrend. UAL 4H I As CDC softens its rules the travel industry gained some territory...
-With CPI numbers numbers tomorrow, the market is expecting 0.3% positive change . - CPI is the Consumer Price Index which measures the changes in the price of goods and services. It is a key way of measuring purchase trends and inflation. - A higher than expected reading is typically taken as bullish for the USD white a lower than expected is...
“The U.S. Global Jets ETF $JETS provides investors access to the global airline industry, including airline operators and manufacturers from all over the world.” TECHNICALS $JETS is currently trading at $25.50 which is 13% below their most recent high of $28.98 which was made in March 2021. The stock has been in an upward trend since October 2020 as a result...
TECHNICALS Currently, $AMD is trading around $76 per share down roughly 15% from the high of $89.20 it made on 4/27/21. On a larger timeframe (1D pictured) there's potential for a head and shoulders breakdown. More importantly, the trend that $AMD had been following since the 2020 lows until March 2021 just had another run in with current price action. This most...
Sector Rotation Analysis starting from Jan 2021 While 2020 was a wonderful year for many investors, 2021 has been riddled with changes in the stock market thus far. In this analysis, I compared multiple ETFs that track different specific sectors in the market in order to visualize these changes. The periods and commentary are broken down month by month with the...
Gold - The Long Game Gold, in addition to other precious metals and commodities, has been rallying on inflation fears. Here is our technical breakdown: After forming a 7-year rounded bottom, $GLD rallied 43% from the March 2020 bottom, topping out at the 27% extension of $194.50 in August of 2020. A successful breakout of our August 2020 downtrend targets a...