Otradehouse

Otradehouse

The last week or so seemed to be very bearish in equity markets. Looking SPY adjusted for CPI this small pullback just tested highs of 2022. Weekly candle closed right at 9 week moving average with a long bottom wick, on a high volume. Meaning buyers stepped in below 9 week MA. Anything is possible, but I am seeing further 20% or so upside on SPY before end of...

Otradehouse

My forecast 2024 SPX outlook (all figures are rounded) 1. A run up to $5200 in Q1 ~10% 2. Quick pullback to $4600 late March- April - ~ -12% 3. Huge run to $6100 by end of Q4 ~30+% 4. Correction to $4800 ~ -20% 5. $6000 to be retested in 2025 (Q2-Q3).

Otradehouse

As a follow up to my previous post, if TSLA to breakout out of current bullish flag, we could see $300 before Christmas. It does have bullish set up as it’s trading in a rising channel while being supported by 150 EMA. Quick run to $275-$280, a bit of a pullback and then retest of July’s high at $295-$300 range. I am less concerned with these smaller moves, but...

Otradehouse

Price formed bullish flag on the daily chart since mid July. Last 3 weeks stock traded in the very tight range close to the upper boundary of the said flag. During that time it uses 150 EMA (blue line) as a support. I expect a break out of the flag to the upside. Price target of around $400 by end of January ‘24. That’s almost 70% rise from current levels. On...

Otradehouse

There have been a clear support at $177.36 on hourly chart. Prices tried to break that support few times, but without luck. I am expecting sometimes later this week to see a brief breakout with a price target of $173, maybe even $171. That price level should not hold for long at all, maybe a day or two at most and from there AAPL is going to $208.

Otradehouse

Reposting snapshot of the chart, as it looks very screwed up in my previous post. Not going to retype previous post here, it’s linked below.

Otradehouse

On a weekly chart there is a visible bullish flag that took about 2 years to develop. Bullish flags happen about midway through the bullish moves. My forecast is just an extrapolation of a price action that happened prior to the bullish flag formation. I expect: 1. brief pullback to $173 sometimes in the next week or so 2. Run to about $207.5 by mid Sep 3....

Otradehouse

I am seeing a bullish set up here: 1. ~$315 by mid Sep ~$260 by Nov 2. ~$415 by Jan 3. ~$280 by Mar/Apr 4. ~$1200-$1300 by Sep 2024. 1. First penetrate a bit downs-loping trend line that currently acts as a resistance, but pull back. 2. Break through that trend line to the upside and test ATH. 3. Pullback to the same trend line that will be acting like a...

Otradehouse

Apple have been trading in the downscoping channel for over a year now. Typically such times of consolidation produce large moves in either direction. I am leaning towards move to the downside for now, but I have been plenty wrong in the past. Case 1: Official recession, possibly military actions in Taiwan would cause move down. Of course all of US equity markets...

Otradehouse

It’s hard to guess how much upside is left in this bear market rally. Maybe price reaches $220, or even $260 (at most), but $65 will inevitably be reached.

Otradehouse

My $85 price target from about a year ago ($1700 pre split) has been reached. Considering current state of the market I am expecting at least another 30-40% decline from current levels. Around $53-$56 ranger I am expecting a bit of support considering stock consolidated at that level for two years from 2018 to 2020. I am not suggesting $53 will be the bottom....

Otradehouse

Disney already dropped over 50%, while SPY currently is about 20% down (I’m rounding it here). Monthly charts obviously shows support around $90, which price tested multiple times over the last 7 years. Once that support is broken, AT MINIMUM I expect another 50% decline. That would be a price target of $45, round top back to 1998, 2000 and 2011 highs. Jim...

Otradehouse

I am expecting price to reach $250-$253 range in the next few days and then head lower with initial short term target of $225, but then only lower after that. Ideal end of this rally target is $252.70 by Wednesday (could be reached in the pre or post market hours of trading). Negative divergence with PPO on hourly chart could occur as well. Of stock keeps...

Otradehouse

As my previous post suggested I’m expecting $2800 level to be reached (unless FED reverses QT). On monthly chart it’s visible that price bounced off of 50EMA for now, but once it closes below it, 150 EMA should act as next support level around $2800. PPO oscillator hasn’t even reached negative territory yet (as it did in 2002/2009). What seems like a shot as...

Otradehouse

SPY weekly chart printed negative divergence with PPO oscillator (Jun/Oct lows). Technically that could be a signal for price reversal. I don’t buy it. FED continue tightening monetary policy, which means more downside to equities ahead. I’m expecting at least $2800 to be reaches in the coming months, November being very red. $1700 is not out of the picture...

Otradehouse

I am expecting more downside in the near future in MSFT. Price target of $165 should be reached by early January, but bulk of that decline I am expecting to see in the next 2/3 weeks.

Otradehouse

About 6 weeks ago I posted analysis expecting ROKU to retest July’s lows, which it did. Back then was hoping retest would be quick and followed by a bear market rally. I have since changed my view on the rally, instead I am seeing more downside. Main reason being that retest wasn’t quick and stock keep sinking (sign of weakness), and overall equity market...

Otradehouse

My MID TERM target on Bitcoin is at least $12.5K. This is based on: 1. Technical analysis: large double top formation, and flag formation (yellow channel) I do think price will go even lower, but $12.5K is minimum just based on technical set up of the chart. 2. Macro environment: higher rates and tightening of liquidity by FED - risk assets taking a hit, Bitcoin...