mike_volk

mike_volk

Since peaking in March'24 Advanced Micro Devices - AMD has been either in a steep correction or moreover: it broke its super uptrend and is now in a downtrend the latter thesis is based on the fact that if it's just an Elliott wave 4 correction - it's way too long: assuming uptrend wave 1 was 80 and wave 3 was 134, it has now retraced to a local low of 141,...

mike_volk Updated 

INTC saw a decade long uptrend until competition from AMD and NVDA likes hit the Co. After forming a double top at 69+ it retraced at fibo .786 to a local low area of 24-25 where the stock consolidated and shaped a double bottom. It bounced off to fibo 0.618 level in 51-52 area and it's sliding again to 0.618 level of the last upward wave. Would consider a 34.8 as...

mike_volk

NYSE:JNJ JNJ is in multi decade uptrend peaked at 187 – presumably end of major wave 5 and turned into Elliott ABC correction, where major wave (A) length is about 37. Per fibo relation major wave (C) should most probably end at 139.5, while intermediate wave ‘c’ – a unit of the major wave (C) might break the pattern bringing the end of correction to 133 and...

mike_volk

ON semi pattern is a bit sceptical. The stock was in a super uptrend peaking at ATH 111+ tested 87-89 area, broke out to 111, but quickly reversed in few weeks and again couple times tested the same resistance of 87-89. Assuming 111 was an end of wave 5, as we did not have other highs tested, we are now in a serious ABC correction shaping a H&S pattern as...

mike_volk

ALGM seems to breakout a 31.36 - 31.42 resistance it tested twice in December, forming a double bottom pattern, what might indicate a reversal of a downtrend it suffered last year. 31.36 is an important .236 retracement level of a major correction wave from the last year, while 31.42 is a full local retracement. Should it hold 31.36-31.42 this week, next target...

mike_volk

ALGM seems to breakout a 31.36 - 31.42 resistance it tested twice in December, forming a double bottom pattern, what might indicate a reversal of a downtrend it suffered last year. 31.36 is an important .236 retracement level of a major correction wave from the last year, while 31.42 is a full local retracement. Should it hold 31.36-31.42 this week, next target...

mike_volk

end of CD should be somewhere around 103, or around 108

mike_volk

ViaSat has been trading in a multi year falling wedge. Assuming it bottomed at 15, It’s forming a potential breakout of upper boundary at around 40 in the next few months Tactically, if it holds 27.30 - 27.50, which is fibo .38 retracement level of this year freefall wave it may test the next resistance at 31+. More broadly, looking at multi year downtrend - it...

mike_volk

USDRUB_TOM hit a megaphone uptrend resistance line and bounced off closing a first red candle in a month. bearish divergences with RSI and MACD in a day chart. Consider short selling in tactical perspective by end of Feb, although it's still in uptrend mid-term

mike_volk Updated 

There seems to be a top diamond pattern indicating a bearish reversal in general, however the price broke resistance line which might point to a continuation of the uptrend with target between 76 and 77... just posting for information purpose

mike_volk

Post downtrend breakage summer 22, consider uptrend is in progress with impulse wave 3 hasn't exhausted yet. Currently per my assumption it's in minor correction wave 4 of the uptrend impulse wave 3. Near-term target is either 66.45, else - 64.92. Mid-term target is around 76.9 - 77.4

mike_volk

There is no head and shoulders in four hour time frame so far: supposedly head is equal to left shoulder height and the right shoulder is getting shaped on low volume. I am neutral on this chart pattern, just publishing FYI

mike_volk

If USDRUB breaks out triangle resistance line on four-hour time frame, next target supposedly should be 79? I am neutral though on this pattern, just publishing FYI

mike_volk Updated 

On daily chart MACD bullish convergence seems to emerge. Next few days price action should confirm this convergence pattern

mike_volk

TWTR may be heading to 39, or else 34+ where in my view correction wave C should complete

mike_volk

There is inverted hammer and bullish hammer candle pattern and the price also bounced off the support line in pennant pattern. A bullish reversal is likely

mike_volk

It’s my humble assumption with limited computing. Per Elliott wave pattern, NVAX may be in a supercycle wave III AND at the beginning of NEW primary/ intermediate wave 3. Looking at intermediate waves, the first 1-5& A-C have been built by a common script (purple waves) and I extended it to a new set of waves 1-5 (in blue). The new intermediate wave 1 L=149 (local...

mike_volk

Since 52 week high in May, SCCO is in a downtrend and it's nearing a breakout of upper trendline in falling wedge pattern. Local lows and local highs trendlines have been converging on relatively declining volume. If it closes weekly above 61.6 (now it's hovering just over 61), a bullish reversal of the existing downtrend and return to to a previous uptrend is...