FiboTrader1

FiboTrader1

DDOG is sitting on an island at 155 range and is well above it's SMA's. Expecting a large pullback in the next week or two to $140.

FiboTrader1

NVDA has fallen below the 30 SMA and has been rejecting the 30 SMA as resistance. Over the next 8 trading days, I am expecting NVDA to fall to 129.

FiboTrader1

NFLX has risen well above the SMA's and has seemingly topped out at the 906-908 level. This recent high of 902 shows two fib confirmations (retracement and extension) that NFLX will retrace to as low as 932 in the coming week or 2. If the SMA's continue upward after this retracement, I am still bullish. However, if they begin to rollover with a price drop, then...

FiboTrader1

TSLA has shot up tremendously over the last week, but I feel the parade is over (for now). Expecting a retrace to 307, then 275 (severe case: 249), before continuing back up to possibly 382 and 411.

FiboTrader1

SPY is in a bullish channel and has rejected the channel resistance at 600. Expecting a retracement to either the 0.382 (566) or 0.5 (556) Fibonacci retracement over the next several weeks, before seeing any continuation higher.

FiboTrader1

In September, I was able to call the next major target for Bitcoin around 88K by using Fibonacci extensions and using the resistance line was able to determine the time frame for that to happen to be sometime in November. Well, here we are at 88K, but what's next? Using Fibonacci retracement, we have two potential targets: $74k and $69k. Due to high exuberance in...

FiboTrader1

In July 2024, V perfectly retraced to the high of July 2021 which provides us with 2 fib extension targets going into earnings tonight. PT 1 301, PT 314. The larger fib extension created by taking the high of July 2021 and the low of October 2022, gives us the stronger of the 2 targets - 301. Calls are cheap for this Friday's expiry.

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AMD broke out of a bullish descending wedge in late September and has since shown little sign of a significant breakout to the upside. We are seeing higher highs and higher lows as well as an upward continuation in the weekly SMA's. I have drawn out to Fibonacci extensions from the high and low of Aug/Sept and another using the high and low of October leaving us...

FiboTrader1

META rejected the 1.618 fib extension and is expected to retrace. First target is 534-526

FiboTrader1

NVDA appears to have completed 3 waves down, so looking for a retrace to 118-123 over the next week for wave 4, then a final plunge to $80 for wave 5

FiboTrader1

APPL will be in wave 3 this week. Expecting much selling throughout the majority of equities this week. PT 201

FiboTrader1

More selling is expected in the market. We may get a bounce early in the week if wave 3 is not finished, but I am expecting a hard gap down sometime next week to complete Wave 1. From there, we will get a sizeable rally probably going into rate decision. After that, a MUCH larger series of selling in October or November.

FiboTrader1

Expect selling to continue for AMD and look for a break of the support. Looking for a gap down next week, then a small rally before selling continues. When 125 is broken, 100 is next target.

FiboTrader1

NVDA is almost to the end of Wave 1 of Wave C. From there, NVDA will climb to as high as 122 - 130, before starting the biggest sell off in October or November.

FiboTrader1 Updated 

SPY finished Wave 4 down and is starting Wave 5 Up. Price Target 568

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Walmart can go as high as $78-80 before correcting. PT 67

FiboTrader1

Seeing that Wave 1 was an $18 move and Wave 5 typically is the length of wave 1, I am revising my upside target to $141 from $136.

FiboTrader1

AMD finished Wave 4 down and is starting wave 5 up. PT 166