ContraryTrader

ContraryTrader Updated 

"Fib levels". Across the board we are approaching so decent support levels. Usually when price approaches a strong fib level oversold you get a decent bounce. Dow,NYA, Nasdaq, and Spy are all outside their daily bollingerbands 2 days straight. Daily Money flow has went oversold too. Nya/Nyse daily chart. Using all time high and 2020 lows for fib levels...

ContraryTrader

Double bottom here .. 3 gaps into 113 108 109 And 112.89 I'm looking for an immediate 109 gap close by next week and 113 before October is out

ContraryTrader Updated 

Falling wedge Here. Quick swing trade Long over 173. 1st tgt - 177 2nd Tgt -180 Stop 172.00 Price has Been flagging between 172.60-174.00

ContraryTrader

If you've followed me for awhile, you know I rarely do ideas on this Mid/Low cap tech.. The reason is because they have High IV and are heavily shorted. Even so , this looks like a good setup here. We completed the Double top here at 67 The larger scheme of things is the Double top was actually the completion of the Head in H&S pattern like so We could...

ContraryTrader Updated 

Another ascending broadening wedge here.. very bearish pattern. Look for a bounced up to 445..460 max, then the next leg down to weekly 21ema or 413.

ContraryTrader Updated 

Correcting outside a rising wedge .. Possible bear channel formed Next stop 290. Stop loss over 306 stop

ContraryTrader Updated 

Coming up on Strong support here. Expecting a dead cat range trade between 127-132 to form right shoulder before the next leg down via H&S Stop loss 127.00

ContraryTrader Updated 

Looking for a pop back up to 132 .. Eventually looking for a break below 127 and the next leg down. Stop loss 126.00 It could break over 132 and 135 gap close but for now 132 is the move

ContraryTrader Updated 

From 416 to 440 Spy made this move on majority of tech back; If spy loses 440 I think we are back to the 200sma minimum with a dead cat bounce or pit stop at 430. The drop from 440-416 will come from the same stocks that help push spy to this level (Tech). yearly uptrend support at 440 this week Weekly RSI uptrend on support. So technically we haven't...

ContraryTrader Updated 

Here's Amzn with fibs 130 fib aligns with 50sma and trendline. Bearish divergence on daily RSI.. looking for a lower high with this next push up followed by a flush. Upside targets are 137 and if it can break and hold over that then 145 gap close. I don't think it goes higher then 145 before correcting like the RSI foretells and it will only make it...

ContraryTrader

Technical bounce setup.. Boeing coming into the week oversold showing a bullish divergence on RSI. Falling wedge on the chart. I like the entry above the daily 200ema at 207.00 Target 215 or trendline resistance

ContraryTrader

Looking for a test of 258-260 in the next two weeks. Tsla may try and test the gap resistance at 281, but I don't think it breaks above it. XLY , which is the tsla sector also has gap resistance at 175.. that gap resistance on XLY and tsla are connected. Support /Targets 270 266 258 If TSLA breaks back below 258, 242 is next up. Stop loss 282 The...

ContraryTrader

Gap down below a rising wedge here. Has been distributing since late June. Early in the week I'm looking for a retest of 334-336 max. After that retest I think we will begin the correction down to the 200sma or 290. 1st target is 323 2nd target 308 Final target 290 The Bearish divergence on the daily RSI will go oversold before msft bounces

ContraryTrader Updated 

Weekly higher low.. Bulls see a cup and handle. Bears see their H&S back in play. So this is normally a bearish pattern . It's called a Ascending broadening wedge.. you could Google it for images but I'll show you an example of it playing out.. Here's Boeing daily chart, you'll see the same pattern here and the results.. I think this week we're going to...

ContraryTrader

Bullflag playing out.. As long as 37.00 holds, I like calls to 40.00 gap close in the next 2 weeks.

ContraryTrader

Earnings this Friday... Think adbe will correct after this earnings back to 500. Price broke out of a triangle and the move is now complete Bearish divergence on daily RSI and chart Usually with symmetrical triangles the measure move of the breakout is the length of triangle like so : As you can see, the move is completed. My short term target is...

ContraryTrader

Looking for a pullback/Correction here post earnings.. Price of this Stocks is 7% away from its 21ema. Last 2 times the price has been this Extended Oracle usually correction back to 21ema within days. 4hour CCI and MFI overbought Showing a bearish rising Wedge formed from its 5% leg up last week. Stop loss -128 Target 118-121 Bulls will see a handle...

ContraryTrader Updated 

Looking for a pullback this week.. My main target is 444-445. Secondary target is 439-441 There's a few indicators that I use that are telling me of a pullback coming; I'll list them off here. 1. Biggest indicator is the VIX 4hour RSI. The last 3 times the 4hour RSI on the Vix hit 23 were 11/9/2020 3/30/2022 10/28/2022 If you look at the price action...