$XBI - Fundamentally Undervalued, Strong Bounce Off Of SupportThis is a very interesting sector to keep an eye on after it's gotten relentlessly hammered for the past six months.
There are now over 100 biotech stocks selling below cash, meaning these companies literally have more cash on their balance sheet than their entire market cap! Furthermore, there are 300 additional biotech stocks selling at 1/2 cash (50% of their balance sheet is at least half of their current market cap).
There are an insane amount of bargains within this sector, and the entire sector is poised to make a reversal after a strong bounce off of support, and bullish engulfing candle on the daily.
I wouldn't be surprised to see this entire batch of stocks start to perform very well over the following months. A trip back to the 130s is almost inevitable.
Bounce
Disney December $164 WISHThis stock fell pretty hard, so a bounce back could happen. How high will it go.. I have no idea.
Taking a look at some trends and numbers, I think buying Friday might be the move.
Long term, I like this stock at $230 by next year. Short term, I like this stock around $160. I've marked some key numbers, if we do happen to see a turn around.
Time to load up on Netflix $570-580Set your limit buy to $570-580 folks. Time to load up on Netflix soon for some bounce play. Netflix took a double top bearish drawdown and it’s a falling knife, with the 20 day crossing the 50 it’s still bearish and could drop more, but there is support soon. RSI 34. Today we could see my buy zone with the fed interest rates. Buy the dip!
Like and follow for more, comment let’s discuss
$QS - Multiple Supports BelowQS has had a pretty nasty drop over these past few weeks, running up 100% after stellar earnings, before ultimately coming down 50% back to where it started.
We're currently sitting right at a demand zone, with multiple levels of support sitting underneath.
I plan on scaling in a small position tomorrow after FOMC, and adding more if we dip to the levels of support down under.
I expect we're going to get a pretty solid reversal sooner rather than later. This setup is reminiscent of the $PYPL chart I posted about a week or two ago.
GLHF everyone!
ETH Ethereum Long Idea ETH has been victim to the sell-off that's occurred in the cryptocurrency markets in recent weeks. The price has finally broken below the key $4000 number which is a worry. However, in the short-term a bounce back to the $4000 level is likely considering the recent price action of ETH. The RSI levels for ETH on the 4hr chart remain oversold which shows that a change in momentum is possible, at least in the short term. The price has also found temporary support between $3750-3800, if this holds then a retest of the $4000 area is plausible. The stop loss area for this trade will be at $3680 which is 4% of the trade size.
Bitcoin Fibonacci Based on Area - DeadCat Bounce Scenario!Hi guys, Please take a look at my chart. It's pretty basic and let me know how I can improve it. I'm looking to see if Bitcoin can have one last move higher to the mid 50s to complete its "dead-cat bounce scenario." RSI is too oversold and we have majors supports in the 46.5k region. 200 SMA is around the .50 Fibonacci. Thanks.
WOOUSDT - Long term entryHad a very long consolidation period with lower highs and higher lows, now almost back to the consolidation (order block) from before the move up.
A lower low in that consolidation zone with a divergence could give me a very nice (long-term) entry.
This consolidation zone also contains the POC (Point of Control) of the consolidation. This is where the most volume has been traded and thus is a place where historically bulls and bears fight for control.
Would be even more interesting in combination with a Bullish Divergence on the RSI.
Invalidation would be below 0.45.
Bitcoin 20K or 100K First?Hello all!
After a violent fall breaking key support & a strong trend line Bitcoin has shown us new trading opportunities. The bottom support trend line represents the final trend for the weekly time frame. Many found this fall to be a strong buying opportunity and look to an upside as long as support #1 and the weekly trend line holds. We can target the top of the resistance trend line around 70-80K. This trend line is also following the weekly 50MA acting as another support level.
However, always be aware of both sides of this trade if the support and trend line is broken we can see another violent fall as we just saw after the support & trend were broken. If we have another fall look for more buying opportunities at support numbers 2 & 3 for a strong bounce.
$PYPL - Demand Zone BelowI've been eyeing $PYPL for a while now and I think this week will make or break it.
Although we found support right above the demand zone at 179, I believe we may have a kiss more downside left in the tank. I want to see us get to the demand zone before scaling in a position.
If we see 175 and bounce, I'm a buyer. That being said, I will swap to puts if we break to the downside as we've got quite gap to fill below.
BTC ETH LTC: Dead Catch Bounce ScenarioHello friends, today you can review the 1H charts for Bitcoin (BTCUSD), Ethereum (ETHUSD) and Litecoin (LTCUSD).
#CryptoPickk notes the following:
1) As the entire crypto market fell drastically, the potential for a move upwards is very possible. In these scenarios, a Dead Cat Bounce Pattern is very possible.
2) For anyone that doesn't know what a Dead Cat Bounce it, please refer to the Investopedia article for further details: www.investopedia.com .
3) Using the Fibonacci Extension, taking the price from the drop start point to the drop end point, the 0.618 - 0.786 levels may be potentials for where the Dead Cat Bounce may happen and the price drops further from that point.
4) Remember one thing that has helped in trading: When a wick happens, the candle body close is surely to follow. Not financial advice of course. Do your own research.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Bull divergence/bounce1. Hourly rsi showing bullish divergence
2. Current support at 50% retracement since the run up from October low.
3. At every new low, the buying volume is increasing/showing more demand.
4. Maybe on Sunday futures open quick visit to 50% fib level, then bounce hopefully for start of the Santa Rally till the eoy.
Just my ideas
ALIBABA BOUNCE FROM TREND LINE Alibaba oversold - RSI is low, historically this has preceded growth.
P/E and P/B are low compared to other industry players and historically. Stochastic RSI was also down so tomorrow may be good for a buy.
Debt to equity ratio decreasing. despite a bit of increased dept from a few Quarters ago.
Let's see what the next few days bring, likely will open a buy position. I will update with TP levels.
Hope you enjoy the idea. Let me know what you think below, anything to add or that I miss?
Good day to you
$HXL Hexcel Corp Oversold & Ready to BounceThere's plenty of opportunity in the stock market today with lot's of good stocks being beat down to dramatically oversold areas, one of these is $HXL a carbon fiber maker for defense programs and a stock which has beat on 4 of it's last earnings releases. Technically speaking the stock is considerably below it's lower Buy Sell Band and 17.61% below it's 50 day MA making for a good risk/reward trade setup. On today's big down day it couldn't find much more than average volume indicating sellers may be close to exhaustion, a long play here back up to the 50 day MA looks ripe.
$YELP - Consistent Channel TradeI've been trading this ticker for a while now, simply due to how consistently it moves!
We've trading within this channel for nearly a month now, and after a brief slipup due to Omicron, bulls are back in control and we've started our ascent back towards the top of the channel.
We can consistently trade this name from the $35 low all the way up to $41 high, with the potential to reach up to $43. If you're entering with options, make sure you give yourself ample time as YELP is a slow mover, and you don't want theta to punish you.
BITCOIN almost ready for the big up.. BOUNCE has just happened!BITCOIN almost ready for the big up.. BOUNCE has just happened! If you see the MFI indicator on daily, it reveals we have indeed bounced and at a local final bottom. Im expecting a dip to 55k one last time, (probably a wick) but expect a reversal. The Bounce has happened.