$AAPL -- A look at two timeframes using Elliot WavesEven though my exact count may be wrong, the structure of these waves has me feeling pretty confident about $AAPL's upcoming price action. Strong buy at 145. September monthlies, ATM and ITM should print.
Let's see how it plays out...
Sincerely,
Your best stock buddy in the whole world,
Patrick.
Calls
MARKET ALPHA - UNUSUAL OPTION ACTIVITYI am going to post some more ideas from our unusual options screener.
After seeing some of the plays uncovered here I think it would be awesome if more people could benefit from charts and ideas like this one.
For this post we are looking at Starbucks. We are seeing increasing call activity come in on the October 1st Contract at the 125 strike. Let's see how it plays out! Thanks for tradingview for allowing the feature where we can easily track the progress of ideas.
NASDAQ:SBUX
$PYPL | Trade IdeaPayPal looking to conclude it's wave 4 pullback and begin it's final impulsive wave up. Consolidating with a double bottom pattern as well as declining volume throughout this period. Waiting for a break above the previous pivot high + volume for confirmation to enter. Target around $340 if everything goes accordingly. Please note the light blue projection as my calculated fractal. (Take this with a grain of salt)
A break of the lows would invalidate this count. Best of luck!!
$TSLA | WEEKLY WATCHLIST (Update)This is a more in-depth analysis on what I'm seeing for Tesla. I will be using the Bump and Run Reversal Bottom Pattern for this analysis.
Please view the thread for an understanding of the model I will be referring to.
I believe we have finished the Lead-in Phase and currently in the final part of the Bump Phase. We should see a small retracement which will be buyable to hit my concluding sub-wave 3 target. Next, a throwback to trend line should take place to retest broken resistance before accelerating higher in the Uphill Run phase. All parts have been labeled and the green arrowed line shows my rough projection. Looking for new highs in September to potentially test the high $780-800 region.
$QCOM | TRADE IDEAI believe QCOM is very under-rated and not seeing much talk about it. This is a beautiful descending broadening wedge forming to conclude wave 4. Please note the increasing volume throughout consolidation as well. A break and hold above this wedge will confirm bullish continuation into a wave 5. Target in the $160 region.
$AMZN | TRADE IDEAWith a strong day today, this has popped up on many radars. Still being patient with this as I believe it will take quite a bit of time to play out. However, keep this one your watchlist for the next few weeks as we look to catch an impulsive wave 3. Fractal from previously posted (check link to related idea) agrees with this impulsive move up.
$TSLA | WEEKLY WATCHLISTTrickier spot for Tesla here as we rejected major supply zone in the $693-700 region. Would be ideal to see us break through this zone for better clarity. What I see is as long as the $649 low holds, we will see $750+ first. Would be patient here and play the breakout with confirmation. Better to be safe than sorry.
$NFLX | WEEKLY WATCHLISTAnother frustrating stock since around Summer of 2020 with major consolidation. This is a sleeping giant, similar to what happened to $NVDA. Again, time is your friend here but I expect this wedge to break for upside continuation. My fractal path is outlined in light blue. Upside target is $600+.
$BA | WEEKLY WATCHLISTThis has been swinging around and consolidating since March, very frustrating. However, I believe there is some light ahead of us. Patience is key for this one and will pay off. Sitting on major trend line support and expecting a bounce. Conservative target zone marked around $237-241. Next target above is around $264.
PFE STRONG AF: All indicators point to continued strong uptrend I REALLY liking PFE rn for long. Here is why
~ Today it not only crossed the VWAP, but it broke the 75th percentile indicating upcoming higher highs.
~ Not only is it riding above the VWAP rn, but there is a nice gap between the price action and SMMA indicating a continued uptrend
~ Price action > 30 EMA > 200 EMA and there is a nice gap between both EMAs. this setup signifies a strong uptrend and an excellent long entry. (especially paired with the fact that the VWAP was crossed)
~ We are maintaining a strong uptrend already on the 50 MA and hourly chart with the 50 MA being a solid support line.
I am swinging a PFE call atm (ITM) as PFE is about to be overbought but is not there yet. I believe we may see another test of 50.50 before the pullback. I am hoping we can break it, but if not 50.50 will become a great support zone once we do pass it. I am planning on selling at 50-60 percent profit ( I am at 49 percent rn) and am going to reenter when we retest the VWAP.
MARKET ALPHA - GAINERSNYSE:CSU
Capital Senior Living Corp came up on the top gainers for Friday. The stock is showing no real strength in this massive downtrend the stock has experienced. Be careful by jumping into too quickly before you get your information. The Lag RSI Still shows significant weakness ahead.