NASDAQ:RKLB Rocket Lab is attempting to break out for the third time. 💪The stock has been on a hard-to-borrow (HTB) status at Schwab for a while now. he $4.70 level is a significant overhead resistance because it is where the 200-day moving average and the volume-weighted average price (VWAP) (orange) intersect. For price targets, please refer to the May 20 post.
NYSE:NKE Nike is getting tight inside the triangle. Currently trading along the POC volume support. There is a potential that it could resolve to the upside. Breaking out above 50DMA could give it a further momentum boost. 👀
NASDAQ:DKNG Head and shoulder + trendline breakdown. Full measured move for the breakdown is $32. Watch $32 to $30 area for a potential reversal. 👀
NYSE:SNOW needs to reclaim above the critical $157 Point of Control resistance. If it fails to hold the trendline it could see a quick drop to $142-$143 area. 👀
NYSE:NET Cloudflare is tracking along the trendline. MACD just crossed bullish and RSI just exited the oversold territory. $76 - $77 is the overhead resistance. If it can overcome that area, it could close the gap.
NASDAQ:PYPL PayPal broke below the trendline. The $60 area could provide strong support as it is the convergence of the VWAP, 50% Fibonacci retracement, and the 200-day moving average. Watch $60 area for a potential reversal.
NASDAQ:MARA Marathon digital run into resistance. Watch $22 - $23 critical resistance area for a potential breakout. 👀 $20 looks to be a new support.
NYSE:SNOW is going into Earnings this evening with an Inverse Head and Shoulder setup. It is currently trading at the neckline resistance and POC volume support area. A good earnings could send it to $180 area. There have been a good amount of June 21 $185 calls traded today. 👀
NYSE:DHI possible head and shoulder pattern forming. Watch $140 area for confirmation. Invalidates if the price travel above $157.
NYSE:CCL is trading above 50DMA and 200DMA. A breakout from the wedge inside the ascending triangle could see the stock revisiting $19 area. Targets: $17 $19 Overhead resistance: $17 to $17.50 Risk: $14.50
NASDAQ:RKLB Rocket Lab hits a major resistance area which is a combination of the descending wedge trendline, 200DMA and VWAP. RSI has cooled so hopefully we can pick up some momentum again. It needs a catalyst to breakout of that descending wedge. With close to 20% short interest, we should get a good squeeze.
NYSE:SNOW Looking good! There is overhead resistance which is convergence of vwap and 200 DMA around $169 to $171 area. 👀 If it can overcome that area, it can run to $180 to $183 area.
NASDAQ:SOFI The combination of trendline and POC volume resistance was too strong to overcome. We can't afford another rejection from this trendline. Need a breakout. If it happens, the measured move is $9. 🙏🚀 We know CPI tomorrow will be bad. Normally the stock reacts badly to bad CPI.
I still think Boeing needs to check back on that trendline around $148. I am not a buyer here. There are so many more shoes to drop with Boeing.
NYSE:CCL Bounced from the trendline. Still hanging onto that triangle. Need to get above $15.50 which is 200DMA + 50DMA to start an uptrend. 👀
NYSE:BABA Alibaba is trading above 200DMA and broke out of the year long descending wedge with the measured move of $104. It is about to hit the next volume resistance area around $83 area. With RSI entering overbought territory does it still have a momentum to keep going? That depends on May 14 ER.
NYSE:NET Cloudflare is retesting the base breakout trendline. It could provide good support and a bounce. 👀 If this support fails, $66-$67 area is next.
NASDAQ:RKLB Looks promising for a breakout. Needs follow through. But it is a good start. Expecting $4.93 to $5.00. FOMC meeting this week. This stock has adverse reaction to rate shocks and fed policy. So keep that in mind.