The name doesn’t have a ton of range, but this breakout that it triggered last Thursday makes me think that with the right entry, this could be a swing, so intraday range doesn’t become a concern for me. Love the volume on the name the last 2 days as well. It really helps me have some confidence that there are institutions getting involved here. Friday’s...
We broke above that 47400 level pointed out last week so we confirmed the higher low and we should be all clear for a 53k retest. Remember though, these valid long triggers create the most powerful short triggers when they fail. What do I mean by that? I mean that if we fail to get to 53k and instead break below the lows from 9/7, then watch out below.
The Nasdaq chart is actually a lot less concerning. There are still some serious levels of support that look ready to be tested. That 50d/quarterly pivot area around 15150ish looks strong. It would be a retest of the recent base that it broke out of and would actually be healthy for us to test, hold, and then find some strength. The weekly 20sma is still quite...
Last week we saw quite a bit of heaviness to the market. Last Sunday Prep called for pops back into the underside of the 20d to be treated as possible areas of resistance where we could look to get short. As you can see we breached this trendline that we’ve been holding since last year. I still don’t think it’s time to panic as there are still plenty of levels...
The higher the better on this name, but will be stalking it for lower highs and an area to get short with defined risk.
Funny how things can change over the course of a week. Just last week was looking at this chart thinking it was starting to look really nice. But after the last few days it has really gotten soggy. If we lose Thursday’s lows, I think it’s in real trouble. Same chart as NIO and same idea basically.
Retail looks nasty across the board, and this one is particularly gross. Looking for a pop into mid 114s to get short. Lower volume name, so make sure you understand how to size appropriately since the spread may be wide.
Really ugly candle on Friday. Would like to short any pop back into the monthly pivot around 49 off the open on Monday. If we don’t get a pop, I most likely won’t trade this.
NIO is really struggling with the 20d. I feel like if this loses Thursday’s lows, I want to be shorting all pops afterwards. I would also look to possibly fade an opening push into the 38.60 area. You can see that was a pretty big level on Friday and you’ll have the 20d just above you as well.
Strong day even in the bloodbath of a market we had on Friday. Would like to see a retrace back to 115 area where we have that quarterly pivot as well an area of consolidation from Friday. With an ATR of $8 that puts us right in the range of a full ATR if we were to open up around where we closed on Friday.
What a change in this from last week. Red across the board. When you look at all the sector ETFs, you also see a LOT of the charts look like they are hanging on by a thread and may take a tumble. One of the few that I thought still looks pretty decent is the Communication Services. The $XLC chart is pulling back into a real nice area and may have some strength...
Saw a bit of a panic flush on Bitcoin last week that took us south of the 200d. We are still just below it as of the time of me writing this, but it doesn’t concern me too much. I actually think this pullback is still very needed and healthy. If we can push back over 47400, I think we can resume the uptrend and continue higher.
Pretty much what we were expecting.. … lose last week’s lows and we see the 20d. Well, we almost got there. Let’s see if that is what we need to do this week in order to see the price find some buyers. Under the 20d the support level I’ll look for is the 15k level where you have the quarterly and 50d.
Major short trigger last Friday on that 49 crack. Will be looking for all pops back into $50/200d to find sellers and roll back over. I don’t usually do this, but I am intimately familiar with this name and if the speculation is correct, my $4/share valuation is GENEROUS. LOL.
If you remember a month or 2 back, this was shared as a short idea, and it’s really behaved nicely since. She struggles every time she pushes back up into the 20d and the 200d. I think now, if she breaks under 38.73, this could have quite a bit more downside. This was the chart posted a long time ago that got our attention on this as a short candidate.
Typically I prefer names in this section to be sold off quite a bit more, but I really really like this name in general and think this might be a really great buying opp, even for longer-term accounts. Currently the way I will play it is to buy any opening weakness risking under last week’s lows. But if we continue lower, I would love a shot at buying this around...
The setup is there to take this name back to ATHs. Technically needs over 418.44 to confirm the long trigger, but don’t think that’s going to be a problem if the momentum continues. Will need to see some retests of key levels hold before being interested. First area of interest would be the recent breakout level of $414, but would much prefer a retest of $400/20d.