Caseywarning
OSTK - Woken up from SlumberAs we can see over the past few days a strong rotation is taking place. Growth stocks are on the decline (providing lovely long term position opportunities), and some other stocks like Overstock are breaking out! I entered yesterday betting that the breakout was true and it was confirmed this morning with a huge gain. My TPs are on the chart. I’m going to TP 25% on each position and put the money to the side for another opportunity; which is something I’ve learned is smart to do over time!
This is not a fundamental based trade as I don’t know much about Overstock, this is purely a technical play. Be patient if you are in or considering getting stock in this asset.
SPX - Keep it Simple!The SPX bounced swiftly off of the 9-10 year long term trend line and 200 week moving average confluence area as described on the chart. It has now come back into the trading range detailed on the chart. The buying and selling zones are going to be major areas for profit taking. Watch for price action and get in after a new move starts. It's truly that easy. Feel free to comment.
ZXY - Ready for a Breakout in the KiwiHey mates,
On the weekly chart of the NZD dollar index, we can see it is at a demand zone, a trend line resistance, and a significant fibo level. I am expecting a break to the upside for ZXY within a week's time given solid fundamental data. Keep an eye on all NZD pairs in the month of October, they might break out.
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