


ContraryTrader
EssentialPrice has formed a pretty big bullish wedge here. In the next 2weeks I expect baba to push back up and close gap at 115.. From there we could pullback to retest falling wedge or push higher .. This wedge should push baba back to close gap at 160 minimum
255 is my target here which represents a 10-13% correction from current levels I doubt we break below 250 before sept.. eventually this stock will head back to the bottom of its long term channel For now I think we close this gap at 279 .. most likely a bounce will come there because of the daily 20ma Price could close gap at 292 with earnings and then...
Edged up to the top of resistance here. Expecting a correction back to 176-185 area here 1hour chart Here's the uptrend since april.. The support would now be around 227. I expect a pullback to that area this week and if support holds price could bounce back and tag weekly resistance around 240 but I don't think price will linger long above 230. A...
Sooooo.. the technicals are flashing red. No earnings No fed Speak No economic data We'll need a catalyst to get the reset going. There are 2 catalyst 1. Tariffs 2. 30yr bond auction Thursday I actually think between July 7th- 17th We will retest the previous high between 610-611. Depending on how long this takes the 20sma should gravitate...
So I just wanted to focus on the next 2weeks of trading.. To summarize what I think will happened We make another high around 620 by End of this week. That high will most likely coincide either the Bill passing through senate or and the Non farm payroll coming out Thursday. Summer melt up seasonality is in progress. Historically the week of July 4th ...
Interesting spot here ... Bulls see Inverted H&S Bears see , rising wedge I see an inflection point. We are sitting at the bottom of a wedge.. depending on what happens the next 2 days We either test 204 or 217 Below 208.00 and iwm goes straight to 204.00 Above 212.00 and 217 comes ... 209 is daily 200ema 216 is daily 200sma and weekly...
Rising wedge here approaching 130-133 double top resistance.. Daily candle extended outside bband.. Look for a pullback to 96-105 Entry 127-131.. Stop loss - A close above 134.00 SOXL (Chip sector) hasn't broken out and the weekly candle finished bearish so I don't think AMD will move over 130 If price does close above 134 then 180 is incoming
Simple trade.. The moving averages shown on the chart are the 20/50 ma.. if aapl closes above 206 then long aapl back to 213.00 If aapl drops below 200.00 then short price back to 193 gap close.. 7$ move either way.. Aapl overall trend is neutral . I do not think aapl will break above weekly 20sma at 215.00 if it does pump. 215 would be a great area to...
Rising wedge just like Qqq, Spy, and most of tech sectors... Price should begin the decline down to 112.00 with a pit stop first at 128 or 200ma .. I expect a dead cat bounce there back to 134 before the next leg down As you can see here looking at the Chip sector SMH You have a similar Rising wedge at .236 fib. And you can also see that .236 has been a...
First off.. that weekly candle was horrendous Rising wedge here.. you can see it on the rsi as well The target of this rising wedge is 300 or daily 200sma.. Lets see how wed get there.. We would need to break below 330.00. 351-355 will be strong resistance if you see a test up in that area I would open a short for 330... cover at 330 and wait for the...
Going over Spy Dow jones NYA I'll keep this mostly cylicals and broader market.. I've written up a qqq post where I cover most tech indexes.. Let's start with NYSE or TVC:NYA This covers 3000 stocks.. you ever read about weak breadth in the market? Well when ever this is Lagging behind nasdaq and the market is being dragged along by 6 tech stocks then...
In the coming the tech sector will rollover and correct 10-12% in the month of june. This will represent a 50% retrace from April lows Weekly RSI is tagging Divergence resistance www.tradingview.com This space has only room enough to chop around for another few days so I'm thinking some news either comes out over the weekend or next weeks eco data comes...
Over sold on the weekly here. Daily MACD just flipped bullish . Last weekly candle was an Inverted hammer Looking for a big move back to 380 before summer is out.. Bullish Pennant setup here
Remember this, when it comes to technical analysis, anything that goes up really fast form's a rising wedge most of the time and anything that drops quickly form's a falling wedge. The Spy has risen 12% since April 21 and after this week i we will give half back and head to 533-535. As you know market goes no where without tech.. So I'll just show you the...
Ascending broadening wedge pattern showing here.. Monthly RSI is over 80 which means NFLX stands a higher chance of tagging 700 before 1300.. Daily RSI and Money Flow is absurd Weekly candle is outside Bollingerband It's just red flag after red flag for this stock I don't think this clears 1150 and I think the next stop is 900 before a dead cat bounce...
Looking for a leg up to its weekly 50 sma or 174 gap close Current pattern is A double bottom with pullback (Handle) Strong long over 161 Stop below 158 One of the things you notice on bullish pullback is the decreasing sell volume .. that usually means a bear trap.
King of the Meme.... Abysmal quarter and guidance yet stock is holding 😆... Keep it simple, I think tsla will test its 200ma this week at 291, from there we should see a reactionary pullback.. As long a 275 holds, then 315-318 is next up .. Below 275 and 250 comes next .. The full measure move here would be 360.. but that only comes if AMEX:SPY is...
April seasonality finally showed its self this past week.. You can always tell when seasonality takes over because of the volume and the fact that news doesn't matter anymore. Example - March, Sept and sometimes May are bearish seasonality.. In these months you'll notice that no matter how good the news or earnings stock still stumble... Nov, Dec, April...