Impeccable similarities between SPY's massive recovery today and its recovery after falling 12% just before the 2008 crash. Could we make the climb back up as we did back then before a crash?
Could we see SPY repeat itself in the coming months? Near identical daily gain/loss patterns between now and just before the financial crisis crash. This would set the scene almost perfectly for SPY's inevitable run to 500 before a complete potential collapse.
ZM is gearing up for a good move ahead of their earnings report November 30. Currently flagging, it is looking to clear a 419 resistance + breakout before pushing up to its next resistance around 446 to 451. If it can clear this level, it may attempt to fill the gap (modestly at the next resistance 477.50, or aggressively at 482.50). Ahead of their earnings, and...
ROKU has formed an amazing setup ahead of its ER this week. After a higher run up at the beginning of July, it has consolidated into a great bull flag that looks ready to take off again before and after earnings. Using the length of the flagpole ROKU has a good long term bullish case to reach a new ATH and potential push further towards $195 or even $200. Note...
Very nice setup for Visa as it appears to be looking to break down out of a range for the past month and a half. Below the low of Friday around the $189.50 area looks like a very good opportunity to short down to a lower support for a $2 move. An overall market uptrend may try to stall this move, but it appears to be ready nonetheless.
After announcing earnings that absolutely blew past expectations and the announcement of a 4-for-1 stock split, shares of Apple absolutely skyrocketed on the Friday to a new ATH of just over $425. After this announcement, many analysts raised price targets on Apple of $450 and higher. This means that they seem to think investors will want to boost their equity in...
Chegg (CHGG) closed at an all time high today along a strong support. It is showing some resistance at around the $79.50 level, however with earnings on Monday 8/3, it may look to consolidate/run up pushing new levels. If it breaks 79.50, I am looking for a first price target at 82, and a second price target at 85. Previous two quarter ER's were misses, however...
Cup and Handle pattern and trend line support with a resistance area of 140-141. The resistance was tested a few times and rejected but CAT is remaining well pithing the support. Earnings are coming up this week (Fri. Jul 31), however the overall market seems to be staying flat during this big earnings week, and this may suppress a possible ER run-up. Very mixed...
AAPL seems to have been one of the main catalysts in yesterday's surprise market dump. AAPL has been trading in a bullish channel since April, going from the mid-230s to almost 400. Along the RSI, AAPL has lately been a little overbought but maintaining well. That changed today when a panic sell forced it tumbling, wiping out almost the entire month's gains. The...
AMD provided a good short opportunity as it fell back today after being at 70 on the RSI. Combined with the panic sell that took place midday today, AMD fell back in between its 59-58 support (former resistance) area. After market close AMD began to shoot back up as it looks like it wants to continue its bullish run. A new ATH was reached today at $62.33, and...
TGT has been forming a nice consolidation lately with a strong resistance area from around 122.80 to 123.60. Looking for a continuation of the strong bullish day yesterday after today's panic sell brought it down. Note the 20SMA looking ready to cross up the 50MA, which can help push it past the resistance area and possibly make a run to 126.
TSLA has been on a rampage lately, and it is safe to say that this is a highly volatile stock. The ER is today (Wed, Jul 22) and will be announced AH. Given the hinderances imposed on almost all Americans during the Coronavirus pandemic, despite the major run-up TSLA has had, my personal opinion is that EPS will miss expectations. My guess is that the insane bull...
Going off of my previous chart on DXY, SLV showed multiple bounces off the 200MA before trading upwards in a channel, and just today breaking out with a huge bullish kicker. As the Fed may work to avoid rising inflation levels and reverse the price action of DXY, SLV ma look to fall back into its channel and fill the gap down.
$DXY, the U.S. Dollar Currency Index has been steadily declining for some time now. Based on a chart analysis, we can see a double-top formation followed by a price consolidation that ultimately led to a breakdown once closing under a support trend line. After a fall of about 4%, an attempt was made to retrace. After a pullback, a second attempt was made, but...
SPCE had a very strong day today high volume and ADX at 25. May look to test new levels as it possibly works its way back up to pre-Crash levels.
Ford Motor Company (F) showed some strength after a pattern breakout before getting rejected around the 200MA and tumbling back down. With strong support around $5.80, it appears to be surging back upwards to possibly test the 200MA again. However, with the RSI climbing as well, it may repeat itself after filling the gap upwards and getting rejected again.
Outlook for DIS is good ahead of earnings as parks reopened over the weekend and a high influx of Disney+ members the past few months. DIS will try to follow the trend line and fill the gap up towards the 200MA for another test. It's crucial for DIS to break the 200MA to continue its upward move.