SWRLS

SWRLS

ADBE is showing some great strength and testing the local high set in the middle of December. It's been consistently bouncing off the 50 EMA on the 65min chart and looks ready to break through. Might happen today, or even better, a Monday red to green should send it straight through on high volume.

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LINK has been sitting in this zone between $13 and $16 for a while now. Accumulation phase seems to be ending. Looking for some good expansion next. More utility than a lot of tokens with higher market caps tbh.

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DDOG looking really attractive here. Came back down to test the support/resistance flip (blue area) and has been tightening in a pennant. Now resting on the 50 and 20 EMAs on the 65min. RSI right at 50 and looking to hold that and maintain strength.

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Taking a stab at SOXL for a reversal here. Tightening down in a wedge for the last week. After semis had been making new highs. Relatively oversold RSI on the 65min and MACD about to flip bullish on the same timeframe. Active trade. In @ $31.99, target $36

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CVNA is looking to breakout of this downward channel it's been caught in since mid December. It has reclaimed both the 50 and 20 EMAs and is pushing the top end of the channel. With 35% short interest, a bullish Fed decision could send this flying.

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ZIM is looking beautiful for another leg up and is currently sitting just below the 200 EMA. First target is the gap at $17.50

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IWM is trying to break back out of the channel it's been in since April 2022. It broke out briefly in late December, but was rejected. This second breakout attempt looks promising, and usually leads to ATH after this much consolidation. Lots of earnings reports this week, but if the market holds up, small caps should have some room to run.

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S is looking to breakout after a really nice PEG in December. Hit resistance just below $28 and then consolidated down. 20 EMA now acting as support and it looks ready to explode higher.

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LULU has broken out of a wedge after hitting ATH and then consolidating all of January. Bounce perfectly off the 50 EMA on the daily. Active trade now. Targets $500, $515

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RBLX is looking really good after bouncing off the 200 EMA, holding above the 50 and 20 EMAs and now working on a double inside candle day. MACD about to flip bullish as well. If the market doesn't totally collapse this looks like an A+ setup to me. Targets $44 and then $48 breaking that resistance.

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QQQ looks like it may be due for a pullback after 5 consecutive ATHs. The RSI is back well in the overbought range, and many gaps below may look to be filled. Much like we saw at the end of December, a strong rally needs quick pullbacks to maintain its health. A pullback to $413 and retest the breakout wouldn't be the worst thing in the world. Hedging longs with...

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SPOT is flagging on the 65 min chart after a breakaway gap on Tuesday. It's been nicely surfing the 20 EMA since the beginning of the year after that big wedge break. Looks like it wants to retest $215 and make new highs.

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TSLA reports earnings today after hours. QQQ is pretty overbought, but TSLA has been hammered down lately. Really interested to see what they do. I'm technically long shares, but not getting overly optimistic. Gapping down seems to be the crowded trade at the moment. We'll see after the bell!

SWRLS Updated 

ADSK has recently broken out above it's moving averages, and flipped a long term resistance level at $235 into support, and is now expanding after two years of accumulation.

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NVDA has been rangebound since June 2023 and made multiple attempts to break $500. It's been accumulating in the upper half of the zone since the beginning of December, surfing the 50 EMA, and looks ready to breakout above $500 on a volume spike. Accumulation leads to expansion, and NVDA looks primed for another leg up.

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SNOW looking like it wants to break resistance that's been holding since August 2022. It's been making higher lows since then, and a perfect bounce off the 50 EMA has this set up nicely to fly through $200. Target is the volume area at $234.

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App is having a 4th go at $45, a level that has acted as strong resistance since June 2022. It's also been making higher lows since October. A clear break above $45 gives it nothing but room to run to the upside. Initial target $55.

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LEN has tried to break the $155 high three times now. A big down day today, but if we hold the low from 1/05 at $144 we're fine. A red to green open could send this back to $155 and through the pivot.