Stocks like Macy's usually move with IWM or smallcaps. As you've seen the last 2yrs smallcaps have underperformed the market and So has Macy's. Over the next few weeks I think Macy's will make a return trio to the top of its channel an close gap at 19.50 Macy's broke out of a falling wedge with massive volume this week. My first target is 16.70 price...
Something happened technically on msft last week that hasn't happened since Dot com era; Msft closed outside its weekly bollingerband twice. To say this is Overbought would be an understatement. Short entry Below 364 Targets 1st 357 gap close 2nd target Trendline support or 345 The yellow horizontal line is msft previous ATH at 366, things get...
Price formed a very large falling wedge at demand/support. Breakout of wedge should happen this week 1st target is 109 2nd target 120. Similar setup here for the energy sector XLE
Most stocks and indexes had higher than normal volume for the weekly. Candle technically wasn't a bullish engulfing because for that to happen the candle has to open up lower than the previous candle to "Engulf" it. I'm sticking with a bear target of 390 by December. The monthly candle is structure is still a bearish reversal with 3 black crows; This means a...
Rising wedge here. And severely Overbought on hourly I'll be looking for a pullback to 132 in the next 3 trading session before a rally up to 145 gap close. Should look like a double bottom pullback. Leg up to 145 holds as long as we don't drop back below 130
Bearish ascending wedge here Target is trendline support or 340. Stop loss 358.50 3 days outside its bollinger band is not sustainable
Bigger pattern at play is the Bearish descending triangle . The next break of 400 will begin the gap close of 300. Smaller pattern at play here is the fallen wedge. The target here would be the 461 gap close which aligns with trendline resistance. Target 400 Stop loss 465 Sector also pushing at resistance SMH
Oversold indicators VS structure.. After all my Homework, that's what I come away with.. Oversold indicators are all saying that by Mid week there will begin a rally. Structure says by the end of November we will see low that is lower than the October's close. Below I'll explain. Let's start with the Oversold indicators. The biggest signal I see that the...
Monthly chart 3 black crows candlestick = Bearish Weekly chart Gravestone doji Reversal candle with strong volume. = Bullish. Daily chart falling wedge pattern that would take us back to 198-200.. I seriously doubt we break over 200 because of the price action and weekly 200sma.
Last post I went over the tech sectors mostly to show how they were rolling over. Fast forward and they are still rolling over but I think we get a 2-3% pop before we continue that slide. Here's my reason IXIC or Nasdaq composite represents the entire tech unlike NDX/QQQ which represents only the top 100. Late Friday we flush within 40 points of trendline...
Price at 287 price action support.. I'm looking for a bounce here and a move up in the next week back to close this gap or test white trend line resistance Long over 287 Stop loss 284.00 Target 300.00 If we break 284 then meta is headed to 276
Long here off support Target is 170-171 or trendline resistance. Too oversold here on major horizontal support at 162 dating back to 2020 Stop loss 162.00
Double top completed here at 210 Looking for a retracement back to 222-223 this week. Stop loss 209.50 Don't know if it can go higher for now Channel formed here .. and if we fall below 210 we are headed to support around 150
Weekly Macd and CCI death crossed. Broke out of bear flag friday. The usual drop from A bear flag is the length of its pole Like so Target is 32.00 Stop loss - any close above 37.00
I think we're are headed lower. Sectors are all rolling over. Chip sector SMH Health care XLV Hanging onto to a rising wedge support but stuck under yellow resistance XLY Tsla /Amzn Rejected at double top neckline Possible bearflag forming XLF Financials/Banks Rejected at doubletop neckline.. currently trading riding above support XLK this is...
Pullback here after completing double bottom. Gap closed at 322 , mission accomplished! Look for a pullback to 310 before heading higher.. Mid support at 317. So your short targets would be 317 then 310.. Stop loss over 326.00
Headed back to 444 here on spy.. The route to 444 may have a couple of zig zags on the way there but I think either by the time big tech earnings comes or goes we will have tagged 444.. Weekly charts NYSE - hammer of previous resistance. Look for a wedge retest at 16,000 Qqq Hammer candle. Look for a retest of 372 before you try a short. IWM Weekly...
Rising wedge here and a dark cloud cover daily candle. Targets are 138 gap close. Below 138 and we head straight for our 21ema at 135 Below 135 and 130-132 at play here.. Daily Rsi just hit our reversal XLC sector which is the sector of Meta,googl, and NfLX just hit its supply zone with a bearish engulfing