Shopify
Short Term
We look to Sell at 329.01 (stop at 369.57)
Prices are extending lower from the bearish flag/pennant formation. The medium term bias remains bearish. There is no indication that the selloff is coming to an end. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 161.97 and 119.18...
Activision
Short Term
We look to Sell at 75.92 (stop at 78.77)
Preferred trade is to sell into rallies. Previous support level of 76.45 broken. Selling continued from the 61.8% pullback level of 85.33. There is ample scope for a move lower from this important resistance. Closed below the 20-day EMA.
Our profit targets will be 65.12 and 56.10
Resistance:...
Ethereum
Intraday - We look to Sell at 1257 (stop at 1301)
We are trading at oversold extremes. There is no clear indication that the downward move is coming to an end. We look for a temporary move higher. 20 4hour EMA is at 1261.
Our profit targets will be 1141 and 1101
Resistance: 1170 / 1250 / 1300
Support: 1080 / 1000 / 900
Disclaimer – Saxo Bank...
Clover Health
Short Term
We look to Buy at 2.10 (stop at 1.93)
A higher correction is expected. 2.00 has been pivotal. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 2.65 and 2.95...
Moderna
Short Term
We look to Sell at 133.52 (stop at 141.88)
Preferred trade is to sell into rallies. Prices expected to stall near trend line resistance. Trades with a bearish descending triangle formation. Our overall sentiment remains bearish looking for lower levels. The bias is still for lower levels and we look for any gains to be limited.
Our...
Bitcoin
Intraday
We look to Buy at 20101 (stop at 19444)
We are trading at oversold extremes. Trading close to the psychological 20000 level. We look for a temporary move lower. With signals for sentiment at oversold extremes, the dip could not be extended.
Our profit targets will be 21987 and 22487
Resistance: 23000 / 24000 / 25000
Support: 22000 /...
Teladoc Health
Short Term - We look to Sell at 32.97 (stop at 37.50)
The medium term bias remains bearish. There is no indication that the selloff is coming to an end. There is scope for mild buying at the open but gains should be limited. Preferred trade is to sell into rallies.
Our profit targets will be 21.64 and 15.19
Resistance: 35.00 / 59.00 /...
Just Eat Takeaway
Short Term - We look to Sell at 17.17 (stop at 19.22)
Prices are extending lower from the bearish flag/pennant formation. We look for losses to be extended today. Further downside is expected and we prefer to set shorts in early trade. News events could adversley affect the short term technical picture.
Our profit targets will be 10.53...
Litecoin
Intraday - We look to Sell at 45.89 (stop at 47.18)
Preferred trade is to sell into rallies. A sequence of weekly lower lows and highs has been posted. Risk/Reward would be poor to call a sell from current levels. A break of yesterdays low would confirm bearish momentum. We look for losses to be extended today.
Our profit targets will be 41.13 and...
Beyond Meat
Short Term
We look to Sell at 21.99 (stop at 23.88)
Further downside is expected and we prefer to set shorts in early trade. The medium term bias remains bearish. Trades with a bearish descending triangle formation. A break of the short-term upward trending support at 22.00 should encourage selling.
Our profit targets will be 17.18 and 13.30...
Micron Technology
Short Term - We look to Sell at 65.98 (stop at 69.58)
We look to sell rallies. Selling continued from the 61.8% pullback level of 85.74. Posted a Double Top formation. The formation has a measured move target of 46.09. Selling spikes offers good risk/reward.
Our profit targets will be 46.09 and 41.09
Resistance: 66.00 / 75.00 /...
Bitcoin
Intraday - We look to Buy at 29414 (stop at 28799)
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. We look to buy dips. 29232 has been pivotal. Expect trading to remain mixed and volatile. As this corrective sequence continues we look to set longs on a dip at better...
Micron Technology
Short Term - We look to Buy at 66.22 (stop at 65.18)
We look to buy dips. Previous support located at 66.00. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 73.13 and...
Novavax
Short Term - We look to Sell at 48.97 (stop at 53.42)
Prices expected to stall near trend line resistance. Trading volume is increasing. The trend of lower highs is located at 55.90. Preferred trade is to sell into rallies. A break of yesterdays low would confirm bearish momentum.
Our profit targets will be 22.96 and 13.90
Resistance: 50.00 /...
Ethereum
Intraday - We look to Sell a break of 1698 (stop at 1751)
Daily signals are bearish. 1700 has been pivotal. Price action continues to gravitate towards crucial support levels with aggressive selling interest. A break of bespoke support at 1700, and the move lower is already underway. Price continues to trade within the triangle formation.
Our...
Alibaba
Short Term - We look to Buy at 102.52 (stop at 92.78)
Dip buying offers good risk/reward. Trading volume is increasing. Previous support located at 100.00. Trading close to the psychological 100.00 level.
Our profit targets will be 138.58 and 164.00
Resistance: 120.00 / 138.50 / 180.00
Support: 100.00 / 83.00 / 73.51
Disclaimer – Saxo Bank...
Saleforce
Short Term - We look to Buy a break of 192.11 (stop at 179.00)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. This stock has recently been in the news headlines. A bullish reverse Head and Shoulders is forming. A break of yesterdays high would confirm bullish momentum. We look for gains to be...
CRISPR Therapeutics
Short Term - We look to Buy a break of 59.19 (stop at 54.06)
Further upside is expected and we look to set longs in early trade. A bullish reverse Head and Shoulders has formed. A break of yesterdays high would confirm bullish momentum. A higher correction is expected. Although the anticipated move higher is corrective, it does offer...
