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AMZN These are the things I look for when drawing my levels. I don't use any indicators because I believe they can be misleading and cause an inadvertent bias. I look at a trade from multiple angles. Its not as simple as entering into a trade just because a stock broke a level. You have to align your trade with News events, Upgrades, Strength of sector, Strength of market etc.. 1. Analyze price action I look at how many times a stock fails at a certain resistance area. i.. If AMZN fails at 3250 multiple times, that means that's a strong level. and when it finally does break, a big move can happen. 2. Stock Patterns a) Pennant, Bull Flag/Bear Flag, H&S/Inverse H&S, Wedge, ascending/descending triangle 2. Correlation with SPX/SPY a) Is AMZN moving up while SPX is moving down? This indicates that AMZN price action is strong. Is AMZN moving down with SPX moving up? This indicates that AMZN price action is weak. b) You also have to look at what the stocks in the sector you are trading are doing. Say AMZN does break 3250 but the tech sector is weak that day, and SPX is weak, this can drag AMZN down. 3. News. I check pre-market for news every morning. Did the stock get an upgrade/downgrade? Is there any news being anticipated? If you are are patient and wait for breakouts at key levels, these types of trades can present a great risk/reward ratio. You don't need to trade everyday. You can make 25-30 trades a year and make $100k+ relatively easily while only risking a small amount of money. Don't be in a rush to trade everyday. Preserving capital and just waiting for the best setup is 80% of trading.
NASDAQ:AMZN
by KevinBurrows
4
BOEING (BA), Where now?About Boeing: The Boeing Company is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers. BA is very interesting, here is my technical analysis: ------------------------------------------ Two possible expected outcomes: ------------------------------------------ If BA BREAKS DOWN 196, it can reach the range of 180-188. It's a great place to collect BA. If BA DOESN'T BREAK DOWN 196, it can continue to climb and you can also enter BA. ------------------------------ Or if we are Wrong: ------------------------------ if BA BREAKS DOWN 180, it will return to it's 160 levels. Remember BA is affected by Corona news has BA declined a lot because of the Corona as Corona effect the whole Aerospace industry. In general BA is LONG for the long run. Long run first target is 300.
NYSE:BALong
by dman103