With the market coming in, I am watching a couple of name which are really hovering at the support level. If they break that support they might give a nice wash. $DKS has had a strong uptrend, so if this breaks this level could do a nice wash. I wrote down $101.50, you got the 50D SMA at $101.41 and $101.29 is the monthly pivot. I want to be a little bit above...
$110.10 right above 50D SMA and previous quarterly pivot. I feel like this is really close to breaking support here, if it starts to breakdown you see the prior resistance which lines up with the 50D SMA and Q which could act as new support.
$53.50 is what I wrote down. You have the monthly pivot, you can also see the POC (point of control) and 126D SMA. This is a name that closed above the 50D SMA. If market does a pull tomorrow this is a key area which I'll be looking for a possible long.
$86.10 is my level. You got the monthly pivot right above $85 spot and 126D SMA as well. I'm looking for a retrace on it, if you draw Fibonacci retracement from where the move started you could see that $85 - $86 is right at the 50% - 60% pocket. Had good numbers, pulling back a little bit and also closed above 50D SMA, let's see if it plays out or not.
I wrote down 56.80, this is a name that has been trending well. You got the monthly pivot and previous days lows around 56.80s. Market is down few hundred points yet the stock closed green, shows some relative strength.
Reported earnings and trading down in the $54 level, I wrote down $53.20 & $52.30. I looked the numbers and guidance they look okay. $53.20 is going to be monthly pivot and $52.30 is going to be a decent support level with annual pivot at that spot. $53.20 is where it kind of kissed in the post market.
Im just looking for pullbacks into levels giving us a buying opportunity. I'm hoping if the $SPY could come into this 50D SMA. $QQQ also came in a little bit, coming right into the MP and let's see if it can pullback into this 50D SMA.
I do love the fact markets pulled back and really hope it continues to drop a day or two and sets up a really great opportunity for us.
Swing Trading Strategy - 100 EMA Swing Trading System
- 1-day time frame
- 100 EMA
- Holding (3 weeks to 4 months)
APPLE Swing Trade 100 EMA 3 TO 4 month Holding
gc will be weak if breaks down the channel support 1788-87
and will have strength above 1795-1800
so wait patiently for either levels to break for clear direction
This chart is only for educational purposes. Do your due diligence before investing or trading. I'm not responsible for any profits or losses that arise from your actions. The purpose of sharing this chart is only for education, and it serves as my personal diary.
My paper trading:
I will enter above $107 if it sustains
My SL 105
Target: As per Risk reward
INDY/EEM relative strength chart is reaching its all time high since the introduction of INDY ETF in Nov' 2009.
Background info: INDY is the Nifty 50 ETF trading on NASDAQ which mimics the Nifty 50 index.
EEM is the MSCI Emerging Markets ETF which invests funds in emerging markets such as China, India, Hong Kong, South Korea, South-east Asia etc.
INDY has been...
WHAT TO KNOW?
We are in a discount phase, investors do have an incentive to go in, for a simple reason: a HUGE volume of sales (to not be emotional VERY HUGE) and a price under the equilibrium; an uptrend forecast
WHAT TO EXPECT:
1_ WORST CASE: Prices Fall to hit Trade Box's bottom (i.e. 49.8 USD) then improve to break event
2_ CONSOLIDATION: since we are below...
This chart is only for educational purposes. Do your due diligence before investing or trading. I'm not responsible for any profits or losses that arise from your actions. The purpose of sharing this chart is only for education, and it serves as my personal diary.
Not a recommendation.
