PrepForProfit

PrepForProfit

Analyzing the monthly price chart, a significant pattern emerges - the Triple Top formation from 2020 till now. The Price Percentage Oscillator (PPO) and Traders' Dynamic Index (TDI) indicators further shed light on the situation. Here's my take on short-term and long-term price analysis and projection. The Triple Top pattern indicates three consecutive peaks at...

PrepForProfit

Cameco Stock Price Analysis - Triangle Pattern Breakout and Potential Price Support Weekly Chart Breakout: Cameco ( NYSE:CCJ ) has made a significant move on the weekly chart timeframe with a breakout from a triangle pattern. This bullish pattern breakout suggests the potential for sustained upward momentum in the stock's price. Price Pullback: Following the...

PrepForProfit

After breaking up and out of the downtrend channel, Bitcoin has hit horizontal resistance near FWB:31K which stems from the price peak in mid-April. Price has been capped by resistance for 6 days, failure to move above resistance soon will likely lead to a reversal. Lower indicators are reading bullish after the channel breakout which is worth keeping an...

PrepForProfit

... and just like that I'm stopped out of my short Bitcoin trade as price bounces up and out of the downtrend channel. Time will tell if this is a true breakout or bear trap, but for now I have to respect the process and when the chart says to exit short trades I exit my short trades. Shift from bearish to neutral for now, will need to see a continued move...

PrepForProfit

Bitcoin tagged the upper line of the downtrend channel yesterday after drifting higher over the weekend. It's make it or break it time as a failure to move up and out of the downtrend channel will likely result in a re-test of the lower channel line. Regardless of what you might hear, the SEC suing Coinbase and Binance is not bullish for cryptocurrencies. ...

PrepForProfit

Cameco continues to gain in price as spot uranium moves higher. We are seeing textbook breakout out of a triangle pattern with Cameco on pace for its highest monthly close since February of 2011. Lower PPO indicator is in the process of a bullish cross of the green PPO line above its purple signal line. Both of these lines trending above the 0 level indicates...

PrepForProfit

I'd call it a bad day for Bitcoin, but when compared to the altcoins today Bitcoin is doing well. I suspect that traders are dumping their shitcoins across multiple exchanges as the SEC lawsuits against Coinbase and Binance have traders worried that their cryptos will be delisted, and/or that they might not be able to get their shitcoins or cash off of the...

PrepForProfit

Is this the proper way to start a new bull market? Asking for a friend... -Home prices relative to income are higher than during the peak of the 2008 financial crisis. twitter.com -62% of new homebuyers are having trouble paying their mortgages. listwithclever.com -Some cities already seeing a rollover in housing prices with a rise in...

PrepForProfit

The second largest mining company in the world has one of the best looking charts out here when it comes to commodities. Price is currently breaking up and out of a pennant pattern, and lower indicators show that trend and momentum behind price support the move higher. Train is leaving the station soon, load up now and add more at each stop.

PrepForProfit

Solar, wind and hydro are not practical replacements for fossil fuels. Nuclear is, and U308 price is starting to reflect the sentiment shift toward the cleanest of green energies. The Fukushima incident created a selloff in uranium for nearly a decade, but the trend has since reversed. Uranium price has been in a healthy uptrend which began in 2021 with price...

PrepForProfit

Short-term bearish, long-term bullish. I'm not currently trading Bitcoin and am only stacking, but I use the short-term technicals to time my buys which have been nearly every week since September 2022, and my current cost average is ~$20k. Bitcoin price is attempting to hold above $28k after breaching but failing to hold above $30k this past week. The...

PrepForProfit

Not much to dislike about gold right now from a technical point of view. Price just set a new all-time monthly closing high last month at $1986/oz and looks determined to test the all-time high at $2089/oz. Price is trending above all of the short and long averages and all averages are also trending higher which indicates a bullish trend behind price. The lower...

PrepForProfit

The signal I was waiting for to start buying bonds was whenever the Federal Reserve stopped or slowed raising interest rates. The Fed held another rate policy meeting this week and only raised the Federal Funds Rate by +.25% instead of the +.75% that had been the trend. We've gone from seeing a +.50% hike in Dec, to +.25% in Jan to +.25% this week after 4 prior...

PrepForProfit

US stocks vs the Federal Reserve Funding Rate vs the unemployment rate vs 10yr-2yr treasury yields. When the 10yr vs 2yr yield goes negative it means that a 2yr treasury bond is yielding more interest than a 10yr treasury bond and it is also known as a yield curve inversion. The red vertical lines in the chart are drawn from yield curve inversions which are...

PrepForProfit

Bitcoin has broken above the 200-wk price average near $25k and is now testing $28k. The current price candle is yellow indicating extreme bullish trend behind price. The lower momentum indicator is still flipping bullish with green signal line rising above the 0 level, still waiting for the purple base line to rise above the 0 level for increased bullish...

PrepForProfit

$25k has been the hard top in Bitcoin recently, with a nice floor being put in at $20k. $20k price support stems from the high set during the crypto bubble in 2017/18 and has historical value. $25k price resistance is coming in the form of the 200-wk average, an average that Bitcoin has never closed below let alone trended below before in the chartable price...

PrepForProfit

Bitcoin has been hitting resistance at 200-week price average($25k) for the past few weeks as the lower indicators test thin lines between remaining bearish or breaking bullish. PPO has both lines below the 0 level which indicate overall bearish price momentum, while the TDI shows the RSI line creating a potential double-top at the 60 level. In general, the RSI...

PrepForProfit

The S&P 500 has ended nearly two-month losing streak with a +6% gain this week, 4.5% of which came on Thursday and Friday alone which is a good sign going into a long holiday weekend. It means that traders are comfortable buying at current prices and are expecting the uptrend to continue next week. As for the technicals, the SP500 has broken above a downtrend...