tacosaurus

tacosaurus Updated 

Target: 170. What I see: * short term descending triangle * weak MACD almost going negative * bearish flag on weekly charts * DXY seems to have found support; may see a bounce with the recent market selloff into cash. * needs to hold the ~~ 180 level which also happens to be near the 50 day moving average looks like it is going to break through on the downside...

tacosaurus

SHOP has been acting very poorly over the past couple weeks and broke down further today. Failure to hold this level ~~ 880 open the door all the way down to the 200 day MA around 700.

tacosaurus Updated 

If this can hold over the ~~22.75-23.00 zone, it could make another run to 30: * This chart looks like a massive bull flag on weekly. * very high short interest * NKLA/GM deal spurring additional possible interest from other manufacturers? * MACD turning upwards * fleeing TSLA money could be looking for other electric vehicle companies?

tacosaurus

* one view here is an inverse head and shoulders with a neckline at either 55 or 60 * another view is just a cup-n-handle formation with a clear break to the upside * obviously tiktok deal cements their advertising business; are they transitioning to an advertising company? (dont forget they bought bluekai. could there be a re-valuation, like we saw with...

tacosaurus

After blowout earnings pushed a new high, we had a massive bearish engulfing. Looks to be way ahead of itself; would like to see it retreat back towards its 50day which nicely coincides with the previous uptrend line. MACD rolling over and about to cross. Upper bollinger band crossover sell. Does not look as healthy as their customers!

tacosaurus Updated 

Looking for short term trading opportunity back to 100 - back to the 50 day moving average. * clearly defined falling wedge * double bottom at the 85 level -- a level which also was congested some months ago - strong support here. * MACD setting higher lows; about to cross the trigger line. * gambling/speculating on this with 93, 95 calls sep/11; may push forward...

tacosaurus Updated 

$SPX looks tired; expecting a drop to 3400, very soon, probably before end of next week. here's why: * hourly MACD turning negative * daily RSI in overbought territory * double top at 3500 intraday today * weak close today; heikin ashi charts look troubling. * end of week, two big tech splits - AAPL, TSLA occur after the close. * this is near the previous high...

tacosaurus Updated 

Nice rounded bottom with triple top. sitting near trendline. looks to me like it could be ready for a large upward move soon.

tacosaurus Updated 

it's been a fun ride. I'm expecting a close at 2000 and touch of 1900 next week. if this occurs, we will have a head-and-shoulder formation which could drop it further to 1700 before the end of the week. yes, I know there is a split for aug 31. buying aug 28 1900 puts to speculate on this.

tacosaurus

Breaking out of an old channel which could also be read as a short term ascending triangle or a long term inverse head-and-shoulders. Looks like $10 is the next stop to me.

tacosaurus

If you read this as a giant inverse head-and-shoulders, a break of the neckline right around the current levels would project +170 points(!) landing this stock at a cool 500. Regardless of the read, we have bumped up against resistance several times and it looks ready to break through. a strengthening MACD lends credence to the story. Earnings come in...

tacosaurus

Very aggressive looking-- either going to fail and become a triple top or going to blast through. two decent uptrend lines to me suggest higher. Trading 268+ would be a pretty clear break putting 300 within reach.

tacosaurus

Looks like the Feb gap down is in play now. That in conjunction with either the 'W' or cup-n-handle looks like there will be further upside in the short/medium term, perhaps to retest the previous highs right near 3400. Tough to say how it might react if/when it gets there, but seems more likely to get there than not... and could form an ugly double...

tacosaurus

Looks for 1250 next week. Technical reasons: RSI weakening from overbought conditions, stepping inside upper bollinger band, hourly MACD descending. Some potential for a gap fill. Would like to see this consolidate around 1250 before earnings, which nicely coincides with my Jun 8 $1250 prediction. Seems legit! ;)

tacosaurus Updated 

After finding it's way back to the previous high we see declining volume, weakening RSI, and general malaise here. Looking for a ~15 pt drop to 350 next week.

tacosaurus

One of my trader friends mentioned this to me a week ago and I took a small position. He'd argued that it should have an AMZN style valuation. While I still don't agree, it looks like the market does. Wow. Breaking out of the trend channel to the upside to new highs, this could run to 300+ in the coming weeks.

tacosaurus Updated 

I was expecting window dressing to push this one higher but it looks like it is breaking down. It is sitting on it's uptrend line now but momentum is waning. Breaking this uptrend line could send us toward the 850 level. Folks may be booking profits before the end of the quarter.

tacosaurus Updated 

Yet another electric truck manufacturer. This one has sprung to life recently but has very different stock mechanics than NKLA that may scare some away. market cap is still "reasonable." in comparison to TSLA or NKLA. Purely speculative trade.