LMT is about to complete its inverse Head and Shoulders pattern. The pattern will complete at $330. Look for a breakout at the $330 mark for a rally up towards $345-$355 range. If it breaks down from its bottom support the head and shoulders pattern is void!
On the weekly chart we can see the top of the trend DOJI star formed with massive sell volume indicating retracement. This typically signals a downtrend in the short term for at least 2-3 weeks. Looking to take this down to $22
SP 500 index just broke out of two MAJOR resistance points. The primary being the high set in January of 2018. It has broken out into new highs with no upward resistance and will look to consolidate upward of $3025 mark. Stock market may rally for the next month.
Ethereum Classic ETCUSDT is finishing the end of its impulse wave cycle, finishing the final wave 5. Looking for a correction to $16.5 before it bounces back to $17.80 hits resistance and retraces back to the 15.80 mark.
Intel is about to enter the next phase of the Elliot impulse wave after this last correction. Expect Intel to rally up to $58-60 until early-mid august (right around earnings), before it goes into the next correction wave. I would play the upside here for the next month. Its RSI and MACD on the chart represent the stock being very oversold, indicating future...
AMAT is now facing resistance after completing the second triangle of the double bottom. It is currently trading on good volume which could represent a breakout towards $58 mark. As you can see each bottom took roughly 6 days to complete, which gives me reason to believe we can see at least a 4% increase over the next 7 days.
Microsoft has held strong compared to its peers in the technology sector only having a 7-9% dip from its recent high compared to the rest of tech that saw 15%+ dip. This sector is very cyclical and after about 30 days of profit taking driving prices down it goes to a new high and usually very quickly. With that being said we may see MSFT at a new high within 2-3...
An inverse head and shoulders pattern is developing which could reach neck line by tomorrow. At that point we can expect a breakout initially to 61, with a retrace back to the original neckline and then to a target of 64.5, at which point i would sell. There is significant resistance at the 59 mark. I would not expect a breach below that level. This is an 6-8%...
A double bottom was formed around the 42 mark and is now retesting the top resistance to break out past the $44.33 mark. Keep in eye out for good volume to confirm the breakout up to $45-$46 mark for 2-4% gain by beginning to mid next week.
