Get started

Consolidation

Is $MDXG ready to move higher from here?Mimedx Group Inc ( NASDAQ:MDXG ) Analysis Sector: Healthcare - Biotechnology | Country: USA Company Overview: Mimedx Group Inc, operating in the dynamic biotechnology sector, holds a prominent position in the healthcare industry. With a focus on innovation and biotechnological advancements, the company plays a crucial role in shaping the future of healthcare solutions, contributing to its prominence in the small-cap segment. Performance Metrics: NASDAQ:MDXG showcases compelling signals and robust performance metrics within the small-cap segment, underscoring its potential for growth and resilience in the biotechnology sector. Relative Strength: Exhibiting a strong relative strength of 6.49 against the sector and 2.48 against the S&P500, NASDAQ:MDXG demonstrates significant outperformance, emphasizing its competitive advantage and market positioning. U/D Ratios: With U/D ratios standing at 1.42 (50 days) and an impressive 4.92 (15 days), NASDAQ:MDXG reflects positive market sentiment, highlighting recent bullish activity and supporting a favorable outlook. Detected Base Depth: A robust detected base depth of 50.88% signifies a substantial foundational level, indicating potential for significant upward movement. Price Dynamics: The last closing price's deviation of -7.09% from base resistance suggests a current undervaluation, positioning NASDAQ:MDXG strategically for potential breakout opportunities. Current volume, standing at 26.95% above the 15-day average, indicates heightened investor interest and active participation, contributing to a positive sentiment among market participants. Recent candlestick patterns reveal a 1.4% range in the last candle body and a solid 64.0% closing range, indicating recent price stability and a robust closing stance. Short-term Trends: Over the last 10 days, NASDAQ:MDXG has experienced a rising price, accompanied by increasing volume and accumulation. This alignment suggests a bullish sentiment among investors, supported by short-term positive trends. EMA Analysis: Historical EMA patterns indicate that NASDAQ:MDXG typically encounters local tops when the price closes around 52.01% above its 50-day Exponential Moving Average (EMA). Currently, the last closing price is 13.33% away from the 50 EMA, providing insights into potential correction levels. Trade Idea: With an entry point set at $8.09, the trade idea presents an early entry opportunity based on current market dynamics. A disciplined stop loss at $7.77 mitigates risk at 4%, aligning with prudent risk management principles. The trade targets an attractive 9.62 Risk-Reward (RR) ratio, with a target price of $11.2, anticipating a total profit of 38.48%. Conclusion: Mimedx Group Inc ( NASDAQ:MDXG ) emerges as a promising player in the biotechnology sector, backed by impressive relative strength, positive short-term trends, and insightful EMA dynamics. The proposed trade idea aligns with an early entry strategy, presenting an attractive risk-reward profile for investors seeking opportunities in the evolving landscape of biotechnological advancements.
NASDAQ:MDXGLong
by HaseebKhan_90
EURUSD → A retest of support will show further potential FX:EURUSD is forming a correction phase, within which it aims to test the support of the forming range. There are key nuances that suggest a further bullish trend, but there are also those that hint at a possible medium-term decline. The market is laying further TVC:DXY weakness amid interest rate cuts from the Fed. EURUSD is currently in correction on the background of bullish trend. Key support area: 1.0840-1.0830. The market is likely to test this area in the format of a false breakdown, as there is a strong support zone in this area. Consolidation above this area will give a potential for buying. It is also worth paying attention to the fact that below the support is MA-200, which can also favorably affect the market recovery. But, on D1 the market is not reacting to the previously formed false support breakout. If the price continues to form a squeeze to the support at 1.0844 - 1.0830, we should expect a breakout attempt with a phase of further decline to 1.08 - 1.07. Support levels: 1.0844, 1.0830, 1.0777 Resistance levels: 1.08875, 1.0965 A retest of the support area will show further potential. False breakout will give the opportunity to buy, and the breakout and consolidation of the price below the area will return the price to the channel. Regards R. Linda!
Long
by RLinda
17
HelenP. I Ripple can make small movement up and then bounce downHi folks today I'm prepared for you Ripple analytics. Some time ago price declined to the 0.6700 resistance level, which coincided with the resistance zone, and in a short time broke it. After this, the price some time traded near this level and then continued to decline to the 0.6000 support level, which coincided with the support zone. As well, Ripple entered to consolidation, where it first tried to rise, but failed and declined until to support zone. Later XRP rose higher than the 0.6000 level, but soon price fell back to the support zone and even lower. After this movement, Ripple rebounded back to consolidation, made a correction to the support zone, and continued to trades in this range. A few time later price rebounded from this zone and rose to 0.6400 points, but recently it a little fell. For this reason, I expect that Ripple can make a small movement up and then rebound down to the support zone. That's why I set my target at the 0.5900 level, which is located in this zone. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
10
GOLD → Price in range, correction may go lower OANDA:XAUUSD is forming another range of 2050 - 2038. Retest of resistance failed to renew the maximum, thus the market may begin to form a correction to support. The TVC:DXY has been strengthening since yesterday on the back of positive US GDP data. The expectation was 4.9, the actual data: 5.2, which is positive for the dollar. But the controversial situation here is that a more positive GDP has a greater impact not on the pricing of the dollar, but on the Fed's stance. Hence, with bullish data, Powell is getting closer to initiating policy easing and rate cuts. Since gold is in a range and already testing the support at 2038, it seems that the correction phase can be stopped either at this level or test areas lower, for example: 0.382 fibo, 2035, 0.5 fibo or global trend support. A strong rally ends with a correction and it is hard to say where this correction will stop. Support levels: 2037.7, 2035, 2030, 2022 Resistance levels: 2050, 2052, 2059 There are important news today, it is worth paying attention to the Initial Jobless Claims, even relatively good news for the dollar (related to inflation) can weaken its price, as the market is waiting for news related to monetary policy. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
34
GOLD → Consolidation 2010-2018. What can happen? OANDA:XAUUSD within a strong bullish trend is forming a consolidation in the 2018 - 2010 range. Lower volatility is forming and several candlestick indications are forming that price may test support before further distribution. On D1 we can see that the leading asset, in our case it is the TVC:DXY , is testing support, which may trigger a correction to local resistance, which will have a corresponding effect on the slave asset (gold may also start a correction within this range). The trend is bullish, moving averages and key levels support this direction, there is no sense to talk about any medium-term and long-term sales now. The market within the consolidation will form a lot of opportunities to gather as much liquidity as possible before further movement in one or another direction. Consequently, border touches, false breakdowns and long shadows can be formed relative to the 2018-2010 range (consolidation). But this is not the only scenario. A breakdown is possible with a quick retest with reduced volatility. In the long term, we should wait for a breakout of resistance. Support levels: 2010, 2007, 2004, 2000 Resistance levels: 2018, 2020, 2022 I expect consolidation within the range with the subsequent breakout of resistance, which can happen after a correction or after a quick retest of 2018 Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
13
HelenP. I Ethereum can rebound back to the resistance zoneHi folks today I'm prepared for you Ethereum analytics. A few days ago price declined to support 2, which coincided with the support zone and some time traded close. After this, ETH rebounded from support 2 and made impulse up to support 1, broke it, and rose until to the resistance zone, which coincided with the resistance level. Then price rebounded back to support 1 and started to trades in consolidation as well. Ethereum some time traded very close to this level and then repeated movement up to the resistance zone. But a not long time ago price bounced and fell below the resistance level. And now it continues to trades inside consolidation and I expect that Ethereum can decline a little more and then rebound back to the resistance zone. That's why I set my target at 2125, which coincided with the resistance zone inside consolidation. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
3
GOLD → Support retest and low volatility is expected OANDA:XAUUSD may be low-volatility on Thursday ( today ) and form a narrow range as it is Thanksgiving Day in the US and in Canada, which I would like to congratulate the people of these two countries!!! Moving on to gold : The market continues to test the 1984 area. False breakdowns, prolonged trading in this area indicates that buyers and sellers are fighting for this area. A prolonged consolidation of the price above 1984 will form a bullish potential, which will indicate medium-term prospects for us. The TVC:DXY will stand still today, which will affect the forex market accordingly. Gold makes a false break of the local support 1994 and bounces from 0.5 fibo, but the important liquidity area has not been tested yet. It is likely that the dollar may continue to strengthen slightly on Friday, while gold may go lower to 1984 or trend support, but the fundamental background is still on the side of gold and we are still waiting for the continuation of the rise. Support levels: 1993, 0.5 fibo, 1984 Resistance levels: 1998, 0.236 fibo Today the price will trade within the narrow range of 1998 - 1993, 1990. A range trading strategy can be used for trading. Do not consider gold for medium-term selling at the moment, there is no reason to do so, the market is still technically and fundamentally strong for growth. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
10
NEO - RELOADEDSince August 2023, NEO has had a strong run, as have many altcoins, growing ~141%. It is now trading above all EMA's and recently rebounded from the 20-day EMA as support. NEO was one of the first 'larger' altcoins to break out of the bearish to bullish phase a few weeks ago. Since then, it has attempted to break the resistance at ~$15 - $15.60, 3-5 times resulting in long wicks. Each time, the resistance won and short-term support was found with the strongest at ~$11.19. Provided BTC continues consolidating or growing, we can see NEO push even further, targeting the $20 area (67% gain). If this doesn't happen, we could see NEO continue consolidating in the value area between $11 - $14 or finding longer-term support around $9 before proceeding to try again. If it consolidates, NEO could move to the top of the value area in the short-term for a modest 16% gain. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only. Please feel free to leave your comments and thoughts below!
Long
by kush23456
BTC Daily chart 30th October 2023After a nice rally COINBASE:BTCUSD is currently consolidation around the 34k area. On the daily chart we can see a double top forming which could lead to a correction in the near future. In my opinion, a double-top + correction will be a good thing. If BTC can find support above the 32k support zone (previously an important resistance zone) the recent breakout will be validated and will convince more investors that the bullrun has indeed started resulting in more volume which is needed for the rally to continue. On the more bearish side, if BTC falls through the 31k support line this could invalidate the recent rally. But, we already have a daily and weekly close above the 32k line and hopefully tomorrow even a monthly close, making it more and more likely for BTC to hold on to the newly conquered levels and finding support above 31-32k. Small word of caution : Unexpected surprises are still possible depending on news about a BTC ETF, which is currently an import factor in determining the BTC price. If an ETF is approved, BTC will likely explode upward and won't need confirmation of the recent rally. If an ETF is rejected, we could lose all the recent gains even if BTC finds support above 32k. This event will probably negate any form of technical analysis.
COINBASE:BTCUSD
by Bullissimo
2
Textbook Consolidation Rectangle -EGHere we have EUR/GBP on the 4Hr Chart in a beautiful textbook example of a Consolidation Rectangle Pattern! Clearly respecting a Resistance @ .87403 and Support @ .86829! Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern. Along with the Bollinger Bands showing CLEAR signs of sideways trajectory! Fundamentally for today: EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
by Novi_Fibonacci
Market Update - November 3rd 2023 Bitcoin holds onto gains as a golden cross appears: Bitcoin (BTC) consolidated around $35k USD this week after its price action exhibited a “golden cross” on the daily BTC chart. Market observers have suggested that such price action could portend a continued upward trajectory for the leading crypto. Sam Bankman-Fried found guilty on all counts: Sam Bankman-Fried, the founder and former CEO of FTX, was found guilty on all seven counts. He faces up to over 100 years in prison. The sentencing hearing is tentatively set for March 28, 2024. In closing arguments this week, prosecutors argued that SBF built his FTX empire on a “foundation of lies and false promises” describing him squarely as a liar who fabricated a “pyramid of deceit.” The defense sought to convince the jury that SBF had simply made mistakes that culminated in the collapse of his once $32 billion empire. Solana leads altcoin charge as ether lags: Altcoins performed well this week, with Solana (SOL) a notable outperformer, rallying 24%. Research analysts have pointed to SOL’s high throughput and growing developer activity as fundamental catalysts for the rally. Other notable high-performers include Decentraland (MANA) +16%, Uniswap (UNI) +13%, Cardano (ADA) +11%, Polkadot (DOT) +11% and Ripple (XRP) +11%. Ether (ETH) prices did not follow suit gaining around 1.7% this week. Federal Reserve holds rates steady and yields continue to dip: The Federal Reserve held its target interest range between 5.25%-5.5% this week. The Fed did not rule out the possibility of future interest hikes depending on economic data, whereas most analysts have ruled out any additional hikes this year. Treasury yields continued their decline, with the 10-year treasury yield dropping 12 basis points after the Fed meeting. 📊Topic of the Week: Technical Analysis ➡️Read more here
GEMINI:BTCUSD
by Gemini
ETH's Nested Flags: Bull Flag within a Bear FlagPrimary Chart: Weekly Candle Chart of ETH/USD with Competing Flag Scenarios Longer-Term Analysis BITSTAMP:ETHUSD has been largely in a trading range since making its low in June 2022. Yes, some of the moves within that range have been quite substantial. The move off the June 2022 low to the early August 2022 high was about +130.59% higher. The next leg higher from the early November 2022 low to the April 2023 high was about a +99% move. In between those moves was a substantial -47.29% downdraft. (Downdrafts may have quite a smaller percentage because the starting point begins much higher than the starting point for an up move.) But big volatility, huge moves, don't guarantee a strong trend either way. A stock can chop up and down in a volatile way while its overall progress remains relatively insignificant given the volatility and moves. Consider the 1-year uptrend on the Primary Chart. The trend does not form a powerful, steep upward slope, moving sharply higher for many weeks consecutively like other charts we have come to see in recent months, e.g., NVDA, AAPL. Instead, the trend has largely been sideways with a modest uptrend with only a gradual incline despite the big moves within this well-defined channel. This could be a bear flag, though that is not yet confirmed. It's a scenario in any case that should be kept in mind on a break of the upward trendline from June 2022 lows. 1. Bear-Flag Scenario: Chart A (also shown on the primary chart) Notice how the VWAPs confirm the largely sideways ranging action. The VWAP from the all-time high and the VWAP from 2022 lows have been containing the price action YTD in 2023. Despite the gentle uptrend slope, the anchored VWAP from the all-time high reminds us of a more dynamic and flexible measure of trend, which is down from the all-time high in 2021. 2. Anchored VWAP from All-Time High: Chart B The anchored VWAP from the all-time high remains formidable to price. Notice is power in resisting price up until now. However, the last rejection did not send price to new lows. This confirms the choppy sideways thesis for now. While the dark-blue VWAP from the ATH did reject price in April 2023, price has remained well above the anchored VWAP from the major June 2022 low. Currently, the ATH-anchored VWAP lies at $2,038. A close above this level suggests at least further upside in the near term. Traders of all time frames should keep this area in mind—it's sort of like a super-highway. You don't want to run out in the middle of it without looking carefully both ways. The measured-move area is also shown here. Note that this is a logarithmic chart, so the measured move is somewhat higher than on a linear chart. This post will attempt to display measured moves on both. 3. Three Anchored VWAPS from Key Pivots: Chart C The anchored VWAPs on this chart confirm the consolidation thesis discussed above. The VWAPs are anchored to key swing lows and highs since the all-time high. NOtice how the VWAPs from these various pivots have been compressing and flattening for months. This signifies another major trend move is likely to occur when this long-term consolidation completes. Many hope it will be an upward move back to highs. SquishTrade is less confident of that conclusion given inverted yield curves (see prior posts on this); however, over the coming weeks, maybe months, choppy to somewhat higher prices can occur. 4. Triangle Patterns within Triangle Patterns: Chart D Triangles are consolidation patterns. The fact that we see triangle patterns within triangle patterns supports the idea that this 1-year channel is potentially consolidative of the move that preceded it. No guarantees, but that seems to be a logical inference. Some might counter that this is a major "cup base" though others may struggle to see anything resembling something that might hold one's tea. We'll see. Note: This is a linear chart, with a measured move based on the linear scaling. 5. Triangle pattern on a Logarithmic Chart: Chart E This chart shows a triangle on a logarithmic scale. So now, switching to log scale doesn't necessarily change the thesis just yet. The measured move for the log scale gives a 1-year measured move off of June 2022 lows around $2467. If we extend the measured move to a 1.272 projection of the first leg off the June lows, then it runs up around $3000. Long-term view summarized: As long as the uptrend from June 2022 lows holds, as well as the VWAP from that same bar, price can continue to remain supported, i.e., not crashing, sideways, rallies and dips within the defined ranges. In SquishTrade's view, $2,400 - $3000 is likely the maximum level ETH may achieve between now and the likely recession foretold by the yield curves. But higher-for-longer monetary policy in major European and North American countries may keep the ceiling even lower than that. Caution is warranted unless / until certain persistent (and 40-year record) yield curve inversions have proven that they finally gave a false signal for the first time ever. Shorter-Term Commentary Directional traders may be disappointed in the coming 2-3 weeks. A flag within a flag suggests more choppy price action overall—at least until a breakout of either occurs. The smaller flag may breakout first to the upside and lead us to the upper edge of the channel. The larger flag may breakout to the downside, and lead us to new lows. But neither has happened just yet. So price action for now may respect the ranges that are in play—both horizontal ranges and diagonal ones (channels). But it appears that price could largely could remain rangebound from a broader perspective for the coming weeks. Conclusion Traders and investors love a major directional move. It sparks adrenaline (maybe) and a combination of dreams / hopes or fears / frustration. Some traders wait eagerly at various levels to fade the move (long or short) once it has started to progress in earnest. Others who may have timed a good entry may be busy counting their profits, while trying to calm down enough to figure out a proper exit, and writing on their foreheads a reminder to "move the stop to breakeven." And still others may be sitting back patiently on the sidelines for months or years and hoping for an ideal capitulatory low after the dust has started to settle between buyers and sellers who may finally seem to have exhausted themselves. In short, the confusion and choppiness of sideways to slightly upward price action is merely the market doing price discovery between all sorts of players including long-term underwater buyers who bought above 3500 and keep hoping the price will rise just enough to make them whole (increased supply), long-term holders who are true believers in the holding (reduced supply unless emotions shake them out), short sellers (supply and potential demand when a squeeze starts), derivatives traders (supply and/or demand due to hedging flow), intraday traders, scalpers, and, let's face it, some gamblers too. In general, the market action is a device for transferring wealth from the impatient to the patient, according to one investing legend, Warren Buffett. But sometimes the patient can be the short-term trader and the impatient can be the long-term investor—because a long-term investor may lack the patience to enter or exit properly, and a short-term trader may have the patience and discipline to execute some excellent swing trades, provided risk is managed and entries and exits are well-planned, well-timed and well-executed. Minor disclaimer: This post is in no way advocating any particular investing or trading strategy. Short-term trading and long-term investing can both be either devastating or profitable (or somewhere in between those extremes) to the person engaging in it. And thanks for reading this and for your encouragement and support. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
KRAKEN:ETHUSD
by SquishTrade
39
Surfing the Waves of Shiba Inu's ConsolidationShiba Inu is currently undergoing a consolidation pattern that is approaching a descent to the 50% retracement line with an approximate $0.00000745 price target. This greets the support line of what may be a several week long symmetrical pennant and an opportunity for a short-term trade that garners notable profits. Significant buy back at this level will most likely cause the asset to retrace back to the 78.6% Fibonacci level ($0.00000790). Significant resistance at this level will most likely result in a support touch at 61.8% ($0.00000763) before returning to a resistance range around $0.00000780. This completes the M pattern and places us several days from a potential breakout or breakdown around the second week of November. With a total increase in value of +24.65% during this uptrend, a high volume breakout can take Shiba Inu's price to 0.00000927 while a high volume breakdown can diminish its value to 0.00000599. COINBASE:SHIBUSD
COINBASE:SHIBUSD
by Shepherd_Investor
AUDUSD - Candlestick Analysis Not my favorite opportunity of the week but one that could be sneaky good because of the associated risk to reward ratio. The AUDUSD has been bouncing back and fourth in a period of consolidation for a while now with the most recent move being a retracement into a high volume level. We end last week with a very positive candlestick combination for the bears offering a potential short opportunity on the open. If you have any questions or comments about the idea, or if you just want to share your own views, please leave it in the comment section below. Akil
Short
by Akil_Stokes
Mastering Market StructureBullish Market Structure: Bullish Vibes! It's all about making Higher Highs and Higher Lows. When you spot this pattern, you're riding the wave of optimism in the market, and it's your chance to seize the moment and soar with the bulls. Consolidation Market Structure: Consolidation Market Structure is all about lateral movement, where the market forms Equal Highs and Equal Lows. It's a phase of uncertainty, with neither bulls nor bears holding a clear advantage. Traders often await a breakout to determine the next market direction. Bearish Market Structure: Bearish Market Structure: Get ready for Lower Highs and Lower Lows. Sellers are in control, creating a solid downtrend. Traders look for short entry opportunities on retracements.
Education
by BlackWatch01
ETH Facing Critical Support at $1760, Will it Hold?Ethereum’s price has been violently breaking past resistance levels during the recent surge. However, for the long-term trend to be considered bullish, one obstacle still needs to be overcome. On the daily timeframe, the price has been steadily ascending since rebounding from the $1,550 support level and the lower boundary of the substantial descending channel. Notably, both the $1,750 level and the 200-day moving average, positioned around the $1,800 mark, have been decisively breached on the upside. The market is presently on track to test the upper trendline of the channel, and should a bullish breakout occur, Ethereum is likely to trade above $2,000 once again in the near future. While the price has managed to break and subsequently retest the $1,750 support level, it is encountering challenges in advancing further. Given the current choppiness in PA and the overbought signal indicated by the relative strength index, the possibility of a retracement back to the $1,750 level or even lower cannot be discounted. After a relentless rally, the market may be due for a correction or consolidation phase. Ethereum’s price has been rallying aggressively over the past few days, running toward the $2,000 key level. It is wise to analyze the futures market sentiment and determine whether this rally would be sustained. This chart represents the Ethereum funding rates, which is one of the most useful futures market sentiment indicators, determining whether the buyers or sellers are executing their orders more aggressively. Positive values show bullish sentiment, and conversely, negative values are associated with a bearish sentiment. Evidently, the funding rates have been positive for some time now, which is positive as it shows traders are aggressively buying. However, the metric has spiked massively in recent days not withstanding the surged. This can point to a probable correction or even a reversal as a result of a long liquidation cascade, which might begin in case of a small price pullback. Therefore, investors should be extremely careful and manage their risk, as a flash crash could be on the horizon.
BINANCE:ETHUSDLong
by DEXWireNews
EOS WILL BLOW FACES OF AGAIN ONE DAY. BE READY!EOS is currently in a consolidation zone and it looks to me to be coming to the end of a massive triangle. Let's see what happens this week, I think a nice pump incoming. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
Long
by Navitility