Eclubtrading

Eclubtrading

Broken down names that feature heavily in the $ARKK ETF have started to act better in the past 2 weeks. The overall ETF built a promising bull flag above the 8EMA. A close above $45 for this week opens the chart for higher prices. Our target for the coming period is $52.

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The overall market posted a higher low yesterday which is reminiscent of the action from March 14th. If this pattern develops in a similar fashion, we expect to see a sustained rally in the next couple of weeks. Today's action will be very important in determining the direction for next week. Will early strength hold and build throughout the day or will the...

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The social media giant was one of the few to avoid a new yearly low last week. It posted an impressive oversold bounce on Thursday and Friday as it came back to $200. For today, see if $195 holds for momentum. The next big resistance area is around its 50SMA around $206. Keep it on your radar for overall sentiment in tech.

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$AMZN was a big winner for our portfolio as the e-commerce giant showed good relative strength yesterday from the open. It managed to reverse early losses and closed above the prior low. From a technical perspective the move from the channel to $2050 has made it oversold enough that it has a bigger potential to bounce than most other tech stocks. It needs a close...

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The small caps are a great barometer of the overall investors' risk appetite. Yesterday's reversal is the first bullish sign. A session above yesterday's high and its 8EMA around $178.5 would confirm the trend change.

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Yesterday's action in the $SPY is a bullish sign for the overall market. We put in a low around $385 which coincides with the recent head-and-shoulders pattern that had a price target around $380. With futures higher today, there is some room on the chart to $400-404 before encountering more resistance. If this was a temporary bottom, watch the semis and small...

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The overall market rallied on news that the FED is not looking for a higher rate hike than the proposed 50bps. This led to a relief rally up to the neckline of the recent head-and-shoulders formation. From a technical perspective if the active bulls cannot reclaim $4350, the path of least resistance remains to the downside. Shorting vs the neckline may be a good...

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Bitcoin has formed a descending triangle ahead of the FED statement tonight. From a technical perspective, we should see a breakout to the upside. See if it can get above $39K in order to resolve this recent pattern to the upside. The last time before the FED, we had an ascending triangle, and the outcome was to the downside. Watch it for overall sentiment in...

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The tech sector will be a focus today as Jerome Powell will offer the latest news from the FED. In case of a hawkish tone and decision, expect a re-test and possible break of the recent lows. In case of a more dovish, controlled FED, we may see a continuation of the recent rally. There is some space on the chart to $327-330. Even if we get there, the market will...

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After an impressive rally from the beginning of the year, $WMT is re-testing the $152 breakout area. See if it holds at the first kiss. Earnings mid-May

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$AMD has been battered and bruised in the past few weeks as the semis led the downtrend. Earnings are this week. A close above the 8EMA (red line on chart) may suggest a trend reversal for the overall market. Until the semis start leading again, expect more sideways to down action. Given the history of $AMD's reports, we expect a beat. Guidance will be key given...

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The tech sector led the rally yesterday as it bounced to its 8EMA. After $AMZN's disappointing earnings & outlook and the markets's lukewarm reception to another great quarter from $AAPL see if the sellers return for a capitulation type move. Watch $320 as the line in the sand between active bulls and bears. In case $AAPL and $AMZN can put in the low in the first...

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$TSLA posted a hammer type candle yesterday as it re-tested the $820 support level before bouncing into the close. For today, depending on the overall market conditions see if it can reclaim $900 for a move above $918 as Musk finished selling a big portion of shares in order to fund his purchase of $TWTR. For support, $877 needs to holds. In after hours, after...

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$FB posted its worst growth since the IPO but managed to beat on revenue as it cut costs during the quarter. Revenue came in lighter than expected. Shares got a boost after hours and our $190 calls will be a big winner. For the next period see if it can stabilize above $200. Next resistance area $214-220

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$AMZN continues to act poorly despite the looming stock split. The company reports earnings next week but analysts are not very excited about short term comparisons given consumers' behavioral changes as the pandemic is coming to an end. In case of a miss, the price may re-test the $2200-2400 area. A beat and good guidance may offer an oversold bounce to...

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$GOOGL reports next week. On Friday, the stock broke the last big support area at $2490 and looks extremely vulnerable. In case of a miss or poor guidance, the recent bullish cycle may come to a sudden stop and the price may reach $2100 quickly. A strong report coupled with good guidance may offer an oversold bounce to $2600-2650. We would rather buy some calls...

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$FB has been battered and bruised in the past 6 months as its stock price almost halved. The company reports earnings next week and the stock just broke below the recent yearly lows. It is still one of the cheapest big tech stocks on the market. In case of favorable results and guidance a bounce to $210-220 is in play given how oversold this stock has been. If it...

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The tech sector is en route to re-test the yearly lows after the recent sell-off. Next week's big tech earnings will be a make-or-break moment for the entire market. In case the big names miss of earnings or guidance, the next stop for the $QQQ could be around $300. In case of better-than-expected results, a bounce could take prices back to $340-345. $AAPL,...