trufeats

trufeats

PEN is on an upward trend as seen with the three sets of Higher Highs and Higher Lows. We are in the midst of the 3rd "Higher Low" right now. It will likely fall somewhere around here, so right now is the perfect entry point. I set a Stop Loss around $183.55 because this is the low point of the previous "Higher Low." If the price falls below this point, the...

trufeats

Will the price break this resistance zone and end the bearish trend? Or will price reject off this resistance and form a double top and continue hitting new lows? Right now, we are in neutral territory until we can see clear higher highs/higher lows or lower highs/lower lows. Fundamentally, I have a bearish bias. But when doing technical analysis, it's...

trufeats

The SPY seemingly had an upward break through it's bearish trajectory if we look at recent price action. Some may take this as a buy signal, but I still see reasons to be short... 1. We're barely above the 50d EMA. The 50d EMA is acting as resistance right now. 2. We spent a long time testing the 100d EMA. It was acting as strong support and we tested it...

trufeats Updated 

The SPY flew below the 50d Exponential Moving Average with ease, but now it's hitting major support at the 100d Exponential Moving Average. On the 21st of September, we hit it and it was rejected. On the 23rd of September, the day closed on top of it. On the 24th of September, the market fell below it but the market closed slightly above it. Today, September...

trufeats

Clearly bearish as we broke through the head & shoulder pattern's neckline. Likely to consolidate slightly around $105-$107 before heading lower. Currently finding support around the 100d-EMA right now, but imo, likely to head lower over the coming weeks. You can also see a "double top" pattern when you look at my top-most yellow rectangle. Each yellow...

trufeats

Looks like we have a distinct expanding triangle pattern which started back in 2018. My guess is today's sell-off happened because trading programs noticed the price yesterday breached the expanding triangle's resistance line. I would wait for further confirmation before trading based off of this pattern. Do I really think that the price will drop further down...