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$LCID Important Levels to WatchAfternoon Everyone! It is just and update on my last two posts on NASDAQ:LCID . I have intentionally excluded Moving Averages on the chart this time as we all have an idea what and where they are. Currently NASDAQ:LCID is trading below the 50 SMA. Which is a bearish spot in short term. Having said that, I think the stock has an upward potential. It might be forming a Neutral Wedge in short term. For an upward break though we need to watch the 4 AVWAP lines on the chart marked as red. This is along the thesis that I had previously. We need to deal with these lines to break out of the wedge. I hope the update helps you all next week. Have a great weekend. Thanks!
NASDAQ:LCIDLong
by Trading-Economist
2
$LCID A follow up on Lucid MotorsCongratulations to all who have been trading NASDAQ:LCID on the first day! This write up is a mid-day follow up on the idea that I posted yesterday on CCIV or LCID. So far NASDAQ:LCID has successfully broken the Anchored VWAP around $25.15 price level. In the morning session it broke above AVWAP's at $27.32 and $28.80 levels but could not stay above them. It will be crucial for LCID to break above these two levels tomorrow (or even in the Afternoon session) if we are looking into price targets such as $32.72 and above. It is also a good sign that the stock is trading above the 21 day EMA and AVWAP's from both recent high and low. Technically, all 3 of these value areas should work as support in coming days. The progressive increase in Volume in last couple of days is also an important indicator to consider. I hope this helps you all with the perspective and making good trading decisions. Thanks!
NASDAQ:LCIDLong
by Trading-Economist
14
CCIV / LCID After Merger: Bullish Hammer Above 50MA and AVWAPThe merger between NYSE:CCIV and LCID has been approved today and the stock will trade under LCID from Monday. A classic Bullish Hammer candle has formed taking support on the 50 day SMA and the AVWAP (Anchored VWAP) line anchored at the base since the merger was announced. Still the ticker is trading below AVWAP lines from the recent high, all time high and the first ever significant hike in January this year. In my humble option, LCID needs to deal with these important resistances at $25, $27.40 and 28.90 price levels if we are hoping for a significant run. So far the Bullish Hammer above the above mentioned support levels is a good start. It has also broken out of the downward trend line that it has been following since the recent high. Let's hope for the best! Also please let me know your opinion on it. Thanks!
CLong
by Trading-Economist
3
$SGMO confluence of support (a lot going on)$SGMO has been correcting its 100% surge higher, I believe I have found enough evidence to suggest the $SGMO pullback has completed and represents a great buy opportunity: 1) +1 year long resistance is acting as support 2) reclaiming of the aVWAP from the bottom for the first time in 8 days 3) holding the 50 day EMA 4) consolidation occurring at the 50% retracement 5) price low of $13.48, AB = CD from peak terminates at $13.46 This idea reminds me of the technical situation of $OTRK (formerly known as $CATS) which I've linked below. The combination was a nearly straight line move higher off the bottom followed by a pullback into the long term resistance (now support), a key moving average (200 EMA) and a key fib retracement (61.8%)
NASDAQ:SGMOLong
by ETrades1
$OSTK aVWAP pullback trade setup $OSTK has broken out of a falling wedge and has found support at aVWAP from Aug 2020 peak. The test of the aVWAP from above created a long green hammer candle which included a 6% intraday rally. From the current closing price, a stop loss below that long wick candle (whether you use a hard stop or mental stop) would be risking about 6-7%. Seeing how OSTK tends to have steep, (*)decisive uptrends, a 7% risk seems very favorable for a stock I believe is just beginning another big move up. OSTK has been moving sideways throughout all the crypto activity so I'd bet it's ready to get involved in the rally. The Aug 2020 peak is $128, I think it's reasonable for a stock in the crypto realm to make a new 52 Wk high. (*)Interesting to note, in the 22 week rally from the March/Covid low up to the Aug 2020 peak: OSTK only put in 4 red candles, of those 4, only 2 actually closed the week below the prior weeks close (the other 2 closed below the current week's open, but higher than the previous week's close).
OLong
by ETrades1
$DRNA has $FLGT potential Top: $DRNA weekly candle chart upon today's close (1/20/21), with anchored VWAPs (aVWAPs) on each top/bottom within the triangle consolidation, as the aVWAPs have tightened, the stock has begun to respect their price range as support. Bottom: $FLGT daily chart as of 12/3/20, at that point in time FLGT also began to respect the price level of the tightening aVWAP bands while consolidating in the triangle. FLGT continued to trade in the consolidation, consistently respecting the aVWAP bands until it broke out and gained +60%. The big difference is FLGT consolidated for about 90 trading days, while DRNA has been consolidating for over 270. Conclusion I am looking for DRNA to continue to respect the aVWAP bands and buy the stock on the next pullback and reversal from the aVWAP bands, confirming their support.
DLong
by ETrades1
Earth and Sky AVWAPThis shouldn't need much explanation. I like to use brown for the ground and blue for the sky. I mostly wanted to say thanks to @TradingView for giving us a free point-and-click anchored volume weighted average price tool. I can't get enough of it and I haven't thought much about 50-day moving averages in 2020. VWAP basically tells you the point at which a group of buyers is either underwater or not. If price is above a line, the collective position of buyers since the beginning of the line are in profit. If price is below a line they are at a loss. I like to look at everyone that bought since the last bottom (brown) and everyone that bought since the last top (blue). You can see @alphatrends for how to properly chart a VWAP handoff but I like to generally feed the ducks like @Hedgeye above the blue line and add to positions as they break above VWAP consolidations. Keep an eye on the orderbook(s) in conjuction with vwaps and you will get a pretty good idea of when to feed the ducks and when to be a duck, and sometimes when to duck. This isn't typically used on such short timeframes I don't think but works on any.
COINBASE:LTCUSD
by ericscottlykins