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Bullishreversal

SPY: Very bearish! What could make it bounce?• So far, SPY is heading to the next support at $360.69, indicating we have a few more bucks to drop, and there’s no technical evidence pointing to a reversal. In the daily chart, at least, there’s not a single bullish pattern yet; • We see some open gaps (yellow squares), and they will become targets, in the future, if (and only if) SPY triggers a reaction; • In the 1h chart we see a possible bullish structure, a Double Bottom chart pattern. Keep in mind, this pattern wasn’t triggered yet, and maybe SPY won’t trigger it at all, but it is important to keep in mind a scenario where it’ll break the $370.21; • By triggering this Double Bottom, SPY would bounce back up to the $388 (its next target); • In my view, I would prefer to see it bouncing after a retest of the $360, but this could work too; • This wouldn’t be a true bullish reversal sign, and maybe would be just a Dead Cat Bounce, but could be the beginning of a true mid-term reversal. I’ll keep you guys posted on this. Remember to follow me for more analysis like this! Keep in touch.
AMEX:SPY
by Nathan_The_Finance_Hydra
10
ZYDUSLIFE - Bullish ReversalNSE:ZYDUSLIFE was trading in a downtrend from July 2021 to May 2022 until it stopped making lower lows. It traded in sideways (accumulation phase) for past 3 months and finally broke out of sideways price action recently. Let's take a deep dive to understand the trading opportunity in ZYDUSLIFE. Multi timeframe analysis - Weekly TF(Higher timeframe) - Below chart shows the price structure change from LH-LL to HH-HL in weekly TF. We are also getting additional trend change confirmation using a RSI technical indicator. RSI is showing bullish divergence. Daily TF(Trading timeframe) - We are able to see the similar price structure and bullish RSI Divergence in daily TF. Zooming into sideways price actions, Presence of supply had been seen between 370 and 375. Price was rejected from this supply zone multiple times until it absorbed all the supply and did a breakout. There was a significant volume in the breakout candle which indicates the presence of demand (supply zone is now turned into demand zone). At present the price has retraced back to the breakout level (demand zone). 45 minutes TF(Lower timeframe) - Looking into 45 minutes timeframe, We are seeing two bullish signs. 1) Price reversal from demand zone with a good volume 2) Bullish RSI Divergence As per the above analysis, we may see a bullish reversal price action for short term. Once 400 price level is breached, the next supply zone is around 450. If you have a different opinion, please share your thoughts in the comment section. If you like my ideas, please show some appreciation with a like and follow me for more such trade ideas. Happy and safe trading! :)
NSE:ZYDUSLIFELong
by PriceActionTrader1
15
Zomato - Bullish reversalNSE:ZOMATO had been trading in a downtrend for months and now seems like it found a bottom. It made a falling wedge structure in a downtrend which indicates that selling pressure is getting weaker and buyers are stepping in. It broke out of falling wedge resistance and now trying to take a support at the breakout level. If it succeeds in breaking 75 level, We could see it go up to previous supply level (115-125). Range between 115 and 125 is a supply zone as a huge selling volume came in between these two prices and price fell down sharply.
NSE:ZOMATOLong
by PriceActionTrader1
2
RIVN: Doing its first BULLISH STRUCTURE ever!Hello traders and investors! Let’s see how RIVN is doing today! For the first time, RIVN is doing a clear bullish structure, and this could indicate a reversal ahead. In the daily chart, we see that for the first time ever, RIVN has a clear bullish structure, as it just did a higher high/low, and triggered a pivot point. In addition, it is trying to leave the 21 ema behind again (it tried to do that in the past, but with the lack of bullish structure, it failed miserably). Keep in mind that this is the early stage of a reversal, and the situation is still risky. Another key point we must pay attention is the red line at $ 33.46. This point worked as a support and resistance in the past, and could work as a resistance again. In the end, RIVN must break this point to confirm a reversal, and not lose it again. By breaking this line, RIVN could do a pullback to its 21 ema in the weekly chart, at least, near the $ 50 (the 21 ema is descending, so it’ll be lower in the next weeks, keep that in mind). Either way, we have a lot of upside potential in the mid-term. This is not a long-term reversal yet, as the trend is clearly bearish on RIVN since its IPO in November. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses!
NASDAQ:RIVN
by Nathan_The_Finance_Hydra
2
SPX: Doing a REVERSAL pattern!Hello traders and investors! Let’s see how the SPX is doing today! First, in the 1h chart, we see that it is reacting nicely, after yesterday’s crash. This is a good recovery, and might be the beginning of a reversal, the problem is that we don’t see a clear bullish structure yet, and the index is still in a bear trend, doing lower highs/lows. In the 1h chart, we see no technical reversal pattern yet. I think it is good to see it breaking the 21 ema, but I would be happier to see a good chart pattern indicating a reversal. However, in the daily chart, something interesting is happening: We might not have any reversal chart pattern in the 1h chart, but we do have a reversal candlestick pattern in the daily chart. Yesterday, we had a Hammer pattern, which was triggered today. One may argue that Hammers are not that reliable, but in my experience, when this pattern appears just above a support, the chances of a reversal are greatly increased. The support level was at 4,167, and today, the index is breaking this point. If we close above it, even better. The volume looks ok, which confirms a bullish thesis. Now, we can expect the index will retest its 21 ema in the daily chart again. Even considering it could do a pullback in the 1h chart (and I prefer to see this happening), the index is giving us some interesting technical reversal signs. What could ruin this reversal? If it loses yesterday’s low. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
5
Graph Protocol Relief RallyNear-term long positions are attractive, with reassessment necessary as inflation reporting in April approaches. Bullish continuation will be more risky in the days leading up to CPI/PPI reporting. Following Bitcoin and the broader markets, GRT will realize near-term bullish support as the markets have shrugged of the Fed's 25 bps rate hike. GRT will flip 20 EMA into support, then push through 100 EMA... ultimately testing 200 EMA until next round of economic reporting. Sharply rising prices are elected to continue as there's been no substantive change to monetary policy, QE continues, corporations continue elevated pace of stock buybacks. Inflation results for March (CPI & PPI) will be published by BLS on 4/12 & 4/13 with high likelihood of further increases from the lagging reporting. April reports will be a pivotal as the FOMC will not meet until early May with the April inflation results published a week after the Fed meeting. Current expectation is shockingly higher inflation with the Fed's hand being forced, either accept persistent inflation and risk a wage-price spiral or adjust approach with more hawkish action and less reliance on hollow words. Maintaining status quo until midterm elections is likely to become untenable, recession risk is increasing.
BINANCE:GRTUSD
by UnknownUnicorn20630062
SPX: Time to BUY the DIP? Only if it does this...Hello traders and investors! The SPX dropped sharply after it lost our support at 4,456, so we have a lot to update. First, as we already discussed in my last analysis, the 4,456 was the key point, and only by losing it, we would see a bearish reversal. I’ll leave the link to my previous analysis below this post. Now the index lost all of its support levels, and there’s nothing indicating it could reverse from here. We had a good reaction yesterday, but this is not enough, and I don’t see any clear bullish structure in the 1h chart that could convince me that the index will fly again. However, if the index reacts and breaks the 4,299, I’ll consider it a great sign, and it might be the reversal structure it needs (it must not lose the 4,200, though, otherwise, the bear trend will likely persist). Now, let’s see the daily chart: Yesterday the index did a classic Hammer candlestick pattern, a good bullish reaction, but to me, this pattern would be much more appealing if it appeared closer to the support at 4,167. Either way, it is a Hammer and the volume was above the average, indicating a possible exhaustion of the bear trend. The points mentioned in the 1h chart (resistance at 4,299 and support at 4,200) are this Hammer’s high and low. If it loses the 4,200, it’ll just resume the bear trend. However, the 4,299 is yesterday’s high, and if the index breaks this point, it’ll trigger this Hammer pattern, along with a possible bullish structure in the 1h chart (as we already mentioned), and this is the confirmation sign we need. Let’s keep our eyes open at the 4,299, as this seems to be the most important resistance on the SPX! I’ll keep you guys updated on this, so, remember to follow me to keep in touch with my daily analyses! I couldn’t update you guys last Friday and yesterday, but the link to my previous idea is in the link below.
SP:SPX
by Nathan_The_Finance_Hydra
3
AAL - Bullish reversalNASDAQ:AAL had been in a downtrend since march 2018. After the significant dip in march 2020, buyers shown good interest in it and kept the price above 10 for couple of months, making a strong support level. Bullish shark harmonic pattern has also been formed and price reversed from PRZ(Price Reversal Zone) level. Price marched up to meet the demand of buyers and faced resistance around 25.80 which was a previous support level. Price retraced for couple of months but with low volume. Finally, in march 2022, price did a strong reversal from 16$ support level with a significant volume making bullish hammer. That marks a higher swing low and is a strong indication of a bullish reversal and price is likely to go up to 26$ for a short term target. If it break 26$ level, then a strong bullish trend can be seen.
NASDAQ:AALLong
by PriceActionTrader1
Bitcoin Relative to Trend & CPI/PPI ResultsBroader markets have responded to the continuation of loose monetary policy, while the Fed will be faced with spiking prices as CPI & PPI results post within 24 hours each the next two months and the FOMC has to decide whether the current approach remains viable as midterm elections approach. BTC will likely reverse bearish trend for next month or two as it follows the broader markets, then falling back into bearish drawdown as the Fed is forced to tighten monetary policy or risk runaway inflation. Status quo in the markets until post midterm elections are complete is unlikely given unsustainable spikes in commodities and further increased wage pressures. Housing sales continue to decline as a reference, the near-term reprieve from bearish continuation will offer some opportunities but likely will not be sustained come summertime.
INDEX:BTCUSDLong
by UnknownUnicorn20630062
ZEC Breakout Confirmation NeededZcash has realized a bullish reversal this week as the markets absorbed inflation reporting, the EU parliament excluded language restricting Proof-of-Work from MiCA, and the Federal Reserve clearly conveyed no substantive change to monetary policy in the immediate future. Bullish price action likely to continue if ZEC confirms a breakout from the descending triangle with a daily close above the trendline, idealing realizing $170 support with a clean bounce. Broader markets appear poised to enjoy bullish sentiment for next few months given midterm elections this fall. Significant risk of further inflationary pressure resulting in a monetary policy reversal cannot be ignored. Closely watch CPI & PPI in the coming months as these likely will see further sharp increases that will ultimately result in Central Banks reversing course.
BINANCE:ZECUSDLong
by UnknownUnicorn20630062
1
Bitcoin Bullish Reversal Post FOMCTraditional markets responded with rallies following the Federal Reserve's tame communication following the FOMC meeting this week. The 25 bps hike is nothing more than a symbolic statement, with the midterm elections looming and the Fed finally acknowledging that inflation is more persistent than what they had hoped. The lack of serious action is likely to result in a reversal to near-term bullish action while inflation continues unchecked. The next few months of "business as usual" are likely to support more upward prices, with CPI & PPI continuing to climb. With the Fed's dovish stance and inflation soaring, there will be a significant amount of attention on what steps to take. The real question is: can the economy support rampant inflation until midterm elections in November?
INDEX:BTCUSD
by UnknownUnicorn20630062
SPX: What could technically reverse the trend? Check this out!Hello traders and investors! Let’s see how the SPX is doing today! First, it hit our target at 4,292, and it seems we see some reaction in this area. We identified the 4,292 as an important support level, and so far, it is working. The link to my previous analysis is below this post. The fact the index is stabilizing in a support area is a good thing, however, it is not enough to reverse the trend. Remember: Trends persist, until a clear reversal occurs (Dow Theory 6th tenet). No clear reversal? It is still a bear trend. However, we do have a possible reversal chart pattern, which is still in formation. We see a possible Double Bottom chart pattern, and for this pattern to be triggered, we must break the 4,333 (the peak between the valleys). This would break the 21 ema at the same time, and the target for this bullish leg would be the Breakaway Gap at 4,472 (red line). The index is in a support level in the daily chart too, as evidenced by the black line. So far, this drop was intense price-wise, but weak volume-wise. This makes the index more vulnerable to catalysts, and the volatility might increase dramatically when this happens. Despite the possible bottom sign in the 1h chart, we see no meaningful reaction in the daily chart that justifies a buy at this moment, but I agree that we could see one soon. If this reaction could reverse the mid-term trend as well, it is a different story. Either way, I’ll keep you guys updated every day on SPX, so remember to follow me to not miss any of my future analyses.
SP:SPX
by Nathan_The_Finance_Hydra
1
It's just FUD. Stick with the fundamentals and be patientWe faced a >50% drop from the previous ATH around the 68k level and created a new lower low. The last dip down to the 33k level was bought up with higher volume compared to the previous dips during this downtrend which indicates that we could have bottomed out. The RSI still is below 40 and probably will test the yellow line in the near-term. Once we break this downtrend on RSI we expect to be above the critical 40k level and recover properly from this downfall. Until this happens we are in a downtrend and could see further downside. Big support lies around the 30k level while the support around 40k turned into resistance and is our first test for upside movement. Most indicators show that we have bottomed out or are very close to it. Keep in mind that often times we feel doomed or the opposite invincible, this is the time we are wrong and reversals happen. So ask yourself how you feel and what it means. Feel free to comment or ask anything you like. Always do your own research and keep in mind that my charts and comments cannot be considered financial advice. Cheers Ctumblery
by tumbler55