simonotheman

simonotheman

Unpopular, unpatriotic title, but the chart doesn’t lie. China tech overall has been basing and looking to break out of the long term downtrend while US tech has struggled. PDD has higher beta than its Chinese peers and I am looking to hedge with shorting the de-facto US e-commerce play, Amazon. Although it would be a more apples to apples comparison to pick a...

simonotheman

BIDU has broken out of a long term downtrend line and has now closed above the 200 day moving average. It is approaching 52 week high levels of outperformance relative to KWEB. If this stays and flags above the 200 day, it is time to go long.

simonotheman

SNOW is making an ascending wedge on declining volume into a huge wall that is the downtrend line, the 50 day moving average, and the 240-250 area that served as previous support. Given the market environment this looks to be a good risk reward for a short position.

simonotheman

UPST broke out of the bear flag to her upside on earnings but without follow through last 2 days. There is a huge volume shelf and previous support around 100-110 and it will check the downtrend line around that area. With short interest at 13% this is susceptible to a massive short squeeze at previous support.

simonotheman

Tesla has been a good indicator of the growth stock market. Any bounces to 950 have been sold and we are bear flagging on declining volume. Be careful if long.

simonotheman

Given the way futures look right now, tech will open considerably lower. AMZN is already oversold on the RSI and it has bounced from the 2900 level numerous times to swing back above 3000. QQQ has support around 350. Buy AMZN at 2900 for a quick swing long back

simonotheman

Possible double bottom at 140—this 140 level has been a key level since 2011 and happens to be the 0.786 Fibonacci retracement level of the parabolic move up from earlier in the year. Sentiment of Chinese stocks is at an all time low; I think it is worth a play on the contrarian long side.

simonotheman

Massive bear pennant in this crowd favorite. Previous support held in the 180s but I think it can go down to the 0.5 Fibonacci level in the 150s.

simonotheman

Similar to the AFRM setup I posted previously, ENPH seems to be making the same ascending wedge on declining volume. I think it will be a sharp drop to the 0.5 or 0.618 fib retracement level which should line up with the 50 day moving average by the time it gets there.

simonotheman

CRWD is making a nice cup and handle with hard resistance at 290. The couple of times it approached this level it was overbought as indicated by the MFI—not this time. Every time this stock bounces off the trend line since the March 2020 lows it doesn’t look back. Relative performance to the ETF hack is making a nice ascending triangle. PANW earnings next week...

simonotheman

This will be an unpopular opinion but this ascending wedge in declining volume coming up into earnings is concerning. Anchored VWAP from the gap up and the 50 day moving average around 130 should support it for a nice re-entry point

simonotheman

Snow is making a cup and handle pattern, with the handle a nice strong bounce off of the 50 day moving average and completing a 3 white soldiers pattern to boot. It is starting to outperform the growth ETF that it is a part of and a break above 320-330 could signal a big breakout.

simonotheman

Wave 1 was roughly 125% so if we are in wave 3 the 125%+ move higher from 480 should put us at least above 1100; I’ve charted it to the next Fibonacci sequence as wave 3 has to be greater than wave 1. Performance against the Q’s seem to be building into a wedge; I think it breaks out—long NFLX over the next 2 years

simonotheman

SQ right at the trend line since March lows—let’s see how tomorrow plays out but I think the trend holds. While RSI is still trending down, Williams %R is indicating oversold and MFI has already moved off of the oversold territory.

simonotheman

I am looking for a pullback to that area between 203-208 before starting a position. That aligns with the two previous tops and past resistance becomes support and right in between the two major fib sequences. That should also take the MFI down to that oversold area assuming the volume remains steady and last time we touched that area in May and we had a strong...

simonotheman

A lot of things here—dark cloud cover candle yesterday with follow through to the downside today, ascending wedge pattern with declining volume, possible end to Elliott impulse wave sequence With the fib sequence retracement the 135 level looks the most interesting

simonotheman

Fibonacci levels for where the stock could go— the 1.618 level looks interesting given that that is where the all time high is and would encounter the most resistance

simonotheman

AI relative performance to BOTZ ETF has been pretty much lockstep until recently Negative reaction to earnings have been washed out Double bottom at 45 seems like good risk reward to the upside