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Two Risk Factors for Stocks and how to Trade themStocks have retraced sharply from highs. We have been warning of a retracement for the past three days or so. Hopefully, no one got caught in a FOMO trade at highs. As anticipated, we saw support from 4632, one of the exact targets we identified for support during the retracement. A green triangle on this level is confirming support, but if it does not hold, there is a vacuum zone down to 4580. Evergrande has officially defaulted, so this could dampen any hopes of another rally. Also, inflation fears appear to be picking up, so we will need to see how these two factors play on the risk sentiment as the day progresses. If we are able to catch a bid, 4693 and 4729 will be the next targets.
FX:SPX500Long
by quantguy
1
Stocks Retrace from HighsStocks have retraced from highs just below our target at 4729. We have been warning you that a retracement was becoming increasingly more likely for several days now. We are finding strong support just above our level at 4649, and several green triangles on the KRI confirm this. After that we will see support from a nearby level at 4632, then we have a vacuum zone down to 4580. The Kovach OBV is still relatively strong, but has tapered with the retracement.
FX:SPX500Long
by quantguy
1
Stocks Flat After New HighsStocks have topped out just under our next profit target at 4729. We are seeing several red triangles on the KRI, suggesting that they are finally meeting resistance. The S&P 500 appears to be consolidating between 4693, and 4729. The consolidation is healthy, as we have been rallying since October, and were starting to look hyperbolic. We do appear to be seeing a bear wedge with a lower bound at 4693, and if we break lower, we have a vacuum zone down to 4649. The Kovach OBV has dipped sharply with the consolidation, so watch for more momentum to come through before we can expect another breakout.
FX:SPX500Long
by quantguy
1
MPC Trending Higher Towards 75Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The stock MPC appears to have broken out from a symmetrical triangle setup, with the resistance line making lower highs of 65.30 and 60.50 and the support line making higher lows of 50 and 53.30. The stock broke 2 levels of resistance, one at the resistance trend line of the symmetrical triangle and the other at a horizontal resistance level of 65.30. Expectations are for MPC to continue higher and test the 75 price level. If the pattern fails, MPC can decline back below the 65.30 resistance. From a longer term perspective MPC is trending higher, with support observed around the 64.72 price level. Technical Indicators The technical indicators corroborate the bullish trending nature of MPC. The stock is trading above its short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The RSI is above 50 and the KST just recently had a positive crossover. Recommendation The recommendation will be to go long at market, with a stop loss at 64.70 and a target of 75. This produces a risk/reward ratio of 1.75. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
NYSE:MPCLong
by Ceddy86
Stocks Make New Highs!! 🤑🤑Stocks have made new highs, yet again. We solidly pierced through the 4700 handle, reaching 4719, just 10 points shy of our profit target at 4729, before retracing slightly. We found support at 4693, confirmed by a green triangle on the KRI. At the time of this writing, we are hovering just above this level, maintaining 4700 exactly. The Kovach OBV is solidly bullish, and we are starting to encroach into overbought territory, so the probability of a technical retracement is increasing. If so, we expect support at 4693, then 4649. If momentum continues, then 4729 is our next profit target.
FX:SPX500Long
by quantguy
Stocks Make New Highs Ahead of Non Farm PayrollsStocks have broken out, making new highs yet again. We have reached our profit target at 4693. The next target is 4729. We should face some resistance at current levels, so anticipate stocks to range a bit in a sideways correction, if not retrace to lower levels at 4649 or 4632. There is a vacuum zone below those levels to 4580. The Kovach OBV is still very strong, and is starting to look a bit overbought, so a retracement is becoming increasingly more likely. Non farm payrolls data comes out today, so this could be a strong driver for stocks either way.
FX:SPX500Long
by quantguy
1
Stocks Make New Highs!! Again!! 📈🤑🥳Stocks got a big push from the FOMC minutes yesterday. We have smashed through our profit target at 4649, to make new highs yet again. We appear to be pausing around 4664, and forming a very narrow range here. We feel that stocks are overdue for a technical retracement, so be wary of FOMO-ing into a long position at highs. The levels 4649 and 4632 should provide support, but if not, there is a vacuum zone down to 4580. Our next target is 4693. The Kovach OBV is still very strong, which suggests we are becoming overbought.
FX:SPX500Long
by quantguy
1
Stocks Pause Below All Time HighsStocks are hugging the upper bound of the range discussed yesterday. This coincides with all time highs at 4633. The level we have identified nearby is 4629. The Kovach OBV is still very strong, but appears to have tapered. If momentum persists, we can anticipate another breakout soon, and 4649 is our next target, set by Fibonacci Extension levels. There is a vacuum zone below to the next level of support at 4580. After that, we can expect further support at 4564, 4545, and 4521. We are due for a technical correction. While it may not happen today, those last three levels could be ideas to buy back when we eventually see a correction.
FX:SPX500Long
by quantguy
1
Stocks Make New Highs!! What's Next??Stocks make new highs, despite persistent issues in the supply chain, transportation industry and protests over the vaccine mandates. The S&P 500 has broken out of the 4500's and seems to have secured the 4600's for now. We came within 5 points of our target at 4632, with the current high at 4627. We are seeing a red triangle on the KRI at this level suggesting we will face resistance here. Watch for continued momentum at open to carry the trend established in the Asia-Pacific session this morning. If it does not, we should range in the value area between 4580 and 4627. The Kovach OBV is still very strong, so the trend is likely to remain bullish.
FX:SPX500Long
by quantguy
1
Stocks Rally for Fourth Day StraightStocks have rallied for the fourth day in a row. They have gained strength off earnings and the potential of the Fed keeping interest rates unchanged. We are seeing some resistance at all time highs as identified by two red triangles on the KRI. The next target is 4632, but we are likely to see a pullback first. The Kovach OBV is still very strong, but at this point we are looking very over bought. The levels 4580, 4564, and 4545 may all be levels to consider buying back on a possible dip. A healthy correction could take us to 4521.
FX:SPX500Long
by quantguy
Biocon - At good support zoneHi Traders, As you can see from the above chart, currently BIOCON at good support zone at Rs.347/-, if the tomorrow price took the support at same level you can take the buy trade. You can take the trade after formation of 1 hour candle in the upward direction. You can take the trade at CMP and SL is based on your risk appetite and target is Rs.400 to 420/-. But if the support zone fails to provide the support to price and broke in the downward direction then you can take the short trade ( 1 hour candle should close below the support zone) to take the trade. Based on the price movement you need to assess and take the trade. I will also update about the trade you can check in the trading view under my ID. This analysis is for short term trade and not for Intraday. Note : This is not a financial advice and trade at your own risk. Thank you. Enjoy the trading.
NSE:BIOCONLong
by Sriramulu-Bonagiri