Eclubtrading

Eclubtrading

$TSLA displayed good relative strength in the past few sessions as the company managed to get past recent headwinds and has been upgraded. From a technical perspective, the chart is forming an inverse head-and-shoulders pattern whose measured move could take the price back to $850. We bought some $800 calls for the middle of July in anticipation.

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After $FB managed to get above its recent triangle, $MSFT is in a similar position today. Watch the overall volume and complexion of the day to see if the software giant is ready for the next leg higher. A lot will depend on the CPI reading tomorrow. In case this come in lighter than expected, we could see $MSFT above $285 by next week.

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$FB will soon change its ticker to $META. The stock formed a symmetrical triangle around its 8 and 21EMAs. A strong Day 1 candle coupled with higher than normal volume will resolve this recent pattern. In such a case, we expect $FB to get above $200 and reach its 50SMA around $204. For such a move, we need to see the $QQQ at the higher end of their recent channel...

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The tech sector absorbed yesterday's gap down and rallied from the $302 support area. The lower end of the recent range continues to be a good entry point for those looking to trade this tight range. If the CPI numbers came in lower than expected on Friday, we expect the $QQQ to get above $320-5 by early next week. Watch the leaders for clues. Will $AAPL get above...

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The overall market absorbed another profit warning from $TGT yesterday and rallied from the lows of the range. $407 held once again and we rallied up to the highs of the recent range. We already have 7 sessions within this tight range. In case of a move in either direction, we expect at least 10 points of upside/downside. As long as the CPI numbers come in lower...

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The small caps had an impressive rally this week. On Friday, amid general weakness in the markets, the $IWM posted a harami cross. From a technical analysis perspective, this candlestick is a warning sign for a possible reversal. However, in order to get bearish on this sector, we would need to see some continuation to the downside early next week. For now, all...

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The $XBI managed to close the week at the highs despite the overall weakness displayed by most sectors on Friday. The relative strength of this sector compared to the others on a down day makes us more bullish moving forward. In case the overall market does not fall apart and continues to rebuild in the following period, we expect the $XBI to outperform given the...

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The overall market gave signs that it could break the recent bull flag formation to the upside after Thursday's candle. However, several factors such as Musk's comments, the stronger than expected jobs report and hints at a possible $AAPL miss for the current quarter pushed equities lower on Friday. Despite the overall weakness on Friday, the $SPY is still within...

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For the first time in months, Cathie Wood’s $ARKK is showing some signs of life as it managed to close above the recent channel resistance. In case the market continues to grind higher in the coming week, watch this ETF for a possible catch-up play. It has plenty of free room on the chart to $50 before encountering more resistance. We are long some call options as...

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$SNAP was the worst performer social media stock this week after it lowered guidance for the current quarter. Yesterday it managed to enter the recent gap as the price moved above $14.57. As long as this level holds, one may try a long swing position if the overall market continues to grind higher.

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$GOOGL closed the gap after $SNAP dropped the ball on Tuesday night. For today, see if it can get above $2200 for a possible rally next week. A possible strategy will be to buy some $2200 calls expiring in 2 weeks and create a spread into strength.

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$AMZN will split its stock effective next Friday. We are long a call spread $2300/2500. Risk reward is in your favor. You risk $4000 to make $16000 in case the e-commerce giant rallies post the split. The expiration of this call spread is for June 10th, to give some time for the buyers to step in. For today, see if it can close the gap to its 21 EMA (black line on chart).

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$TSLA continues its downtrend as the stock could not rally with the overall market yesterday afternoon. It posted a new yearly low below $630. The longer it stays below $680, the higher the probability we will see a move below $600 in the coming weeks. Watch it for sentiment in growth stocks. A possible breakdown of this stock will directly affect $ARKK as well.

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$MSFT had a decent bounce after Friday's hammer candle as the stock continues to rebuild. Despite yesterday's weakness in the tech sector triggered by $SNAP, the software giant closed right at its 8EMA. In case it can get above $263, it has some space on the chart for a possible move back to $270 in the coming week if the overall market conditions improve. Watch...

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The overall market found support at $387 and had a decent bounce into the close. For today, with futures currently higher, see if early strength holds. The FED minutes and $NVDA's earnings will be important binary events. In case of a move higher, $397-400 is a possible target by the end of this week. The overall reaction was positive and can be considered a win...

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$NVDA reports earnings next week. The chip manufacturer had a poor performance in the past few months as its stock price halved. Expectations are quite low going into the report. The chart is getting very tight. In case of a beat, we may witness a disproportional move to the upside. The first big resistance area is $200-210. We bought some $185 calls for this...

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Bitcoin managed to reverse the losses from Wednesday and is facing an important test at the recent downtrend on the chart today. From a larger perspective, we have a descending triangle which in theory should break to the upside. Watch $31K as a trigger signal for those of you looking for a buy signal. For support, $29K needs to hold in order to keep this pattern intact.

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$AMD had a decent bounce yesterday after the market liquidation episode on Wednesday. A close above $100 this week, keeps the recent pattern intact. We expect this semiconductor leader to outperform in case the market has indeed found a bottom. A move above $106 next week will solidify this thesis.