Double Bottom Pattern / AMD $110-120Hey, AMD is forming a good looking double bottom pattern and is primed for a breakout leading up to earnings 10/25 if the stock can get through the $94 range. AMD has strong support at the $70-75 range and has rallied upwards of $100+ when that resistance is tested, which it has been recently. I believe AMD has been beaten down more than the other comparative semi stocks and is due for an upward correction. Obviously this is dependent on the FED rate hike, however the market has priced in a full basis point and I strongly believe we will actually get a .75 considering we haven't had a full point hike done in a very long time. I see Powell playing it safe and not shocking the market, causing the market to react similarly to the July-August transition, which in turn sparked a huge bull rally. With all that being said... AMD is cheap with good call options prices.
AMD to $110-120
AMD
AMDDumper nicely since I last posted this chart. Weekly RSI breaking down again on the weekly chart and daily RSI rolling back over. I expect this to continue to dump and come down to the .786 and possibly the .886 which is the COVID high. May build out support at the COVID high around $60 or possibly dump more. I think the former is more likely though. I expect this to follow the rest of the semiconductor market given they have sold off extensively. Time will tell.
NVDA DAILY WOLFE WAVE SETUP OVER THE WEEKENDOn Sept 2, 2022, a daily wolfe wave entry was triggered. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. Since there is no apex associated with the daily wolfe wave, an alternative price objective would be required using gaps, previous support levels or time. If there was an apex formec, then the projected target is defined by identifying the apex location and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Short term target is near gap at 150 or 21 day ma which is 164. Conservative level would be 155. I hope this helps.
AMD, WeeklyAMD Weekly
Disclaimer : I am not a financial advisor nor a registered investment professional. This content is for entertainment purposes only and is not investment, tax, or financial advice. Always do your own diligence and research. You are solely responsible for all investment, tax, and financial decisions that you make.
AMD - Buy Point I know we're not supposed to be buying stocks right now. Just ask Powell.
What can I say....I'm a rebel...
AMD Testing the top side of the descending trendline. I like this set-up. Good risk-defined buy point.
Could be a good long call option play. Risk to sub .786 Fib retracement @ $78.50
Zoomed out Daily LOG Scale
Monthly LOG
AMD (Daily): Are we setting up for a fierce rally?Short update for those following along. We are closing in on circle wave ii support. As previously shown in the chart below:
So, we have a five wave impulse into wave circle i with a three wave corrective moving dropping down in the the wave circle ii support. Can it go lower? Sure. Another low to test the longer term .382 retracement of wave 3 is not off the table (see yellow 4 on chart and/or post about AMD Big Picture). Can we chop sideways for a bit in a protracted wave circle ii before we start wave (i) of wave circle iii. Sure. So what was the plan again? I believe I wrote:
"It might not be a bad idea to start layering into a position from around $87 to $80.00 with a stop around $80-$76. But it is probably best to wait for the (i)-(ii) of circle iii for the highest probability trade (again, not shown yet). Although this price action deserves some respect and a close eye, caution is warranted until price holds circle wave ii support and makes a new high for wave (i) of circle wave iii."
Since then, price made a slightly higher high in wave (v) of wave circle i, so the support is a bit higher than the last chart. But those confines still seem pretty applicable. Layering into an entry with a stop set between $80 and $77 seems like a good risk management plan. Assuming price can hold wave circle ii support, we could be getting ready to rally something fierce. If not, your stops are set and in place to limit the pain of another low. It's a purely objective plan based on price action and Elliot Wave Theory.
Overall, this chart still looks solid. I'll map out waves (i) through (v) of circle wave iii once/if price tests its last near term high of $104. If I have time, I'll probably post one or more additional charts showing smaller time scales or progress in the comments section below.
#LongAMD
#WaveTheory
#NotAdvice
#NotRecommendation
#MeasuredMoves
#PriceIsKing
#GoodLuck
AMD Thoughts I set a target of $200 for AMD on this analysis based on the Fibonacci circle movement
(2),(3) are comparable areas, both aligning along 1.618. They can be interchanged as (2),(3)
(4) is the price reached at 2.618. Using this 2.618 reach we can apply it to the bullish situation saying price will again touch this level.
I am bullish on AMD .
$AMD Inverse Head & Shoulder - Bring the dip ill buy the chips!Semi-conductors/chip stocks took a big dip this week after more negative earnings reported.
I am watching this inverse head & Shoulder pattern for a reversal with huge upside potential.
Declining selling volume.
Near oversold RSI
High risk (manage risk) as we are at a major support level. If we lose this level, the weight could get really heavy back into the 70's range.. are you catching my drift?
NVDA possible Breakdown before EarningsNASDAQ:NVDA
NVDA on the daily chart appears to have formed a flat top triangle
with the trendlines drawn onto the chart. Price appears to
be falling outside the ascending support line before upcoming
earnings. Will NVDA rise to regain support or breakdown further?
Performance Review, Week of 2022-08-22 to 2022-08-26The usual way I publish my public ideas is daily updates on ES and weekly updates on NASDAQ:AAPL , NASDAQ:TSLA , NASDAQ:AMD , and NASDAQ:NVDA .
Starting this weekend, I am going to publish performance reviews on these updates. Note that in these posts, my goal is not to update the counts, but only to compare the expectations vs reality. Updates to the counts are published in the same usual way.
Overall, you can see perfect match between AAPL, AMD, NVDA, and daily ES updates with the reality. The only one that was not matching is TSLA, which I actually warned about in it's weekend update.
AMD:
NVDA:
AAPL:
TSLA:
ES August 20th:
ES August 22nd:
ES August 23rd:
ES August 24th:
ES August 25th
SPY: Dont Buy the Bull Rally We are still LONG TERM Bearish on SPY, crypto and basically most equities.. including popular mining stocks.
The way we see SPY is that first we have formed a classic Head & Shoulder pattern with a Faux breakout to the downside before the rally then the drop of the new low
Looking at structure a couple ways we need to sell down much more to complete the H&S pattern and also the A,B,C pattern on the right shoulder which both would take us to the targets outlined.
We have volume confluence as participation dried up towards the head and increased slightly on the right shoulder.
Looking at Fibonnacci we have room to grow up to the 430 range but ultimately even if we are bullish we still need to test 375/380 one more time. However we are not bullish and I think we are going to go lower by the end of the year towards 335/350.
The Rally will be short lived.
Ideal entries around 430 but if we start to build some structure I can look at some in the 415-417 area.
ZM still under Massive Selling PressureToday we have ZM (ZOOM) on the daily chart
With the huge sell offs in the market we still see much more downside on the table especially for growth and tech stocks like ZM.
We offered a bullish outlook that would have an inverse Head & Shoulders forming
However to complete the right shoulder we would still need to sell down into the low High 90s
We do have some news coming out tomorrow so ideal would be to see a pump in the market back into the 108s-110 area before the selling continues.
We are prepared go see even higher prices to make a true daily retest or Double top back at 112-115 area
Not unless we break above and close above 117 will our bearish bias be removed.
With that being said.. we DO NOT think we are forming a bullish Inverse Head and Shoulders and will likely close this week towards the lows of 90
SOXS at support for LONG SWING SETUPAMEX:SOXS
Reports are the semiconductor secotr is presently challenged with rising costs
and lower production orders.
SOXS is in a flat bottom triangle with price now at its base.
The RSI Oscillator is in mid-range suggesting price has upside.
The relative volume has been increased in the past two weeks.
I see this as a swing long setup with the target 30-40& above
the current market price in the mid-Fibonacci retracement range.
NVDA: Will pull back soon, but bullish longtermNVDA provided a textbook 5-wave impulsive move off the low. The 3rd wave tagged the 1.618 extension and the 5th wave has reached the 2.0 extension. This move has been very clean. However, the fibonacci extensions have been reached and now momentum is beginning to fade (see MACD). That being said, I expect NVDA to pullback over the next 2-3 weeks. I would like to see price retrace to the .5 - .618 retracement levels, filling the gaps in an A-B-C pattern, followed by a push back above the Wave 1 high. If this happens, the price target for wave 3 will be in the 240-250 range.
AAPL AMD AMZN BAC NVDA TSLA trade ideas - jtgladiator 8/24NASDAQ:AAPL chart www.tradingview.com
Enter calls > 168.71 watch for reversal off gap or this level for puts PT1 = 169.86 PT2 = 171.52
Puts < 166.65 for gap fill down. Watch for reversal here. PT d165 PT w163
NASDAQ:AMD chart www.tradingview.com
Calls 95c - 99c > 94.44 PT1 95.02 PT2 99.25
Puts 90p < 92.11 PT1 90.56 88.59
I am still swinging the 85p until 9/16
NASDAQ:AMZN chart www.tradingview.com
Virtually no volume until 128.99 then 125.50
From there 122 can come quick but there is some volume there
Looking at swinging 122p
129 and 126p are options also
Calls 138c - 141c > 136.32 or puts off the rejection PT 138 141
Puts < 132.85 129p and 126p or monthly 122p
NYSE:BAC chart www.tradingview.com
BAC traded up while SPY was trading down. Outside candle on the daily.
This thing is ready to make some moves. I like it for the downside. But play the chart and levels.
Calls >35c PT 35.30 36.00 - Be careful of reversals. The outside candle can be nasty
Puts < 34.41 PT 34.29 33.92 33.41 Swing 8/26 or later
NASDAQ:NVDA chart www.tradingview.com
Enter 168p < 169.70
Be aware of reversal
Possible Gap fill to 165.31
PT for weekly is 167.24 then 164.28. Grab 9/2 or 9/16 :p
Or grab for earnings lotto
Enter 178c > 174.60 make sure BOH
Watch for reversal
PT 175.58 178.49
NASDAQ:TSLA chart www.tradingview.com
TSLA went green on 8/23.
Call Swing 950c > 896.48. Watch for reversal PT 901 944
Put Swing 825p < 863.77 PT 855 838 818 785
-jtgladiator
AAPL AMD NVDA AMZN TSLA 8/23 jtgladiator #thestratWe are looking for continuation on the swings we entered on 8/22. If there are any reversals to the upside, be sure to secure put profits and take calls
NASDAQ:AAPL chart www.tradingview.com
AAPL Enter calls > 169.86 watch for reversal off gap or this level for puts
AAPL Enter puts < 167.14 for gap fill down. Watch for reversal here. PT 165 PT 163
NASDAQ:AMD chart www.tradingview.com
AMD Call swing > 95.02 with PT1 99.25 - not likely imo
AMD finally broke the double inside weekly to the downside. Swinging them 85p all the way out to 9/16 or longer
NASDAQ:NVDA chart www.tradingview.com
NVDA Enter 178c > 175.58 make sure BOH. Watch for reversal
NVDA puts enter 168p < 170.30. Be aware of reversal. Possible Gap fill to 164.24. PT for weekly is 164.78. Grab 9/2 or 9/16 :p
Or grab for earnings lotto
NASDAQ:AMZN chart www.tradingview.com
AMZN Grab calls > 136.32 or puts off the rejection pt 138 141
AMZN Grab puts < 132.85 for huge swing with PT of 120 and a gap fill all the way down
NASDAQ:TSLA chart www.tradingview.com
TSLA Call Swing 920c > 877.20 - watch for reversal pt 901 944
TSLA Put Swing 800p < 858.90 855 838 785
NYSE:BAC chart www.tradingview.com
BAC Daily Swing Calls BOH 34.75 PT 35.30 36.00
BAC D/W put /swing < 34.45 PT 34.15 33.40 Swing 8/26
-jtgladiator