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Flatbottomtriangle

LLY Earnings Play LONG ( Flat Bottom Triangle Breakout)My analysis is on the 2H. I am uniquely qualified in my fundamental analysis. This is a one day until earnings. My thesis is the earnings will stimulate what will be a breakout from a flat bottom triangle. I will buy one share of stock. I will spend a similar amount on call options striking $460 expiring August 11th. I see LLY as surging while PFE is a bit challenged with the fall off in Covid vaccine work. If you find this idea interesting and might appreciate my ideas as to a stop loss and targets, leave a comment. Like and subscribe. Trade well !
NYSE:LLYLong
by AwesomeAvani
1
ORCL Large Cap Tech Setting up Bearish ContinuationORCL may not be joining the technology stock parade. Although it ran up on the 2H chart with a good 30% rise between earnings. the MACD indicator showed a double top. On the retracement, the price descended but then stalled. It came up short of a 40-50% retracement and went sideways into a flat top triangle. The MACD indicator has been with a negative red histogram and now a downward-curving set of lines. I see this as a short trade setup in stock not thriving in the technology run-up. It could be that investors are simply deploying cash to far better profit opportunities and not considering this stock as a good move. Others may be already shorting this. I will join them.
NYSE:ORCLShort
by AwesomeAvani
MGRX Biotechonolgy IPO LONGMGRX a recent IPO produces a med for erectile dysfunction without FDA approval; They are basically selling a generic version of an approved medication and bypassing the patent protections and betting they will fly under the regulator radar apparatus. As might be expeted this recent nano-IPO is highlly volatile. Play with it only if you have the requisite skills to do so and only with risk capital. it does the marketing through direct to consumer telehealth services. >>>>>>>>>>>>>>>>>>See also the link below <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< On review and analysis on the 30 minute chart, the price action is squeezing down in a flat bottom triangle likely setting up a breakout upside. The RSI oscillator shows RSI crossing 50% from below. Volatility is compressing down inside the triangle for a squeeze set up. Targets are based on the supply and demand zones of the Luxalgo indicator. The first parget is the midline between the zones while the final target is just below the supply zone. As can be seen on the chart, the first target is about 100% upside while the final target is 200% upside. One of the position is closed at each target making the return 150% overall. Stop loss is below the demand zone. A stop loss is 15% yields an overall reward to risk ration of 10:1.
MLong
by AwesomeAvani
AMC Flat Bottom Triangle PatternNYSE:AMC AMC since the parabolic move May- June 2021 has been in a flat bottom triangle pattern with "touches" on both the support trendline and the upper resistance trendline. In the past several trading days, with the volatility of the APE special class dividend stock, AMC has gone up to the upper line and now is now again at the $10 range. The MACD and Relative Strength are weak. This is consistent with buying weakness and low then selling above that. While waiting for a true breakout of the triangle, I see a long swing setup as buying the bottom at $10 and observing for a rise to the upper trendline with a target of $19. I will set a stop loss below the triangle at $9.50 This would offer a reward on risk of 19X. I well realize that market catalysts can trump the pattern anytime and assume that risk. Go Apes !
NYSE:AMCLong
by AwesomeAvani
2
Bitcoin Deduction (LONG)The chart is well explanatory on its own, let me just clarify to prevent confusion and uncertainty Denoted Terms: 1. EMA periods :- 10-Period (Blue color), 20-Period (Yellow color) 2. Key support level & Sub-level 3. Awaiting level :- Horizontal black line 4. Key Resistance level :- Close to the A.T.H (All time high) price The price channel tool used :- Flat top/bottom The movement of the market from A.T.H till the key support is picked with the price channel The awaiting level is picked due to the old occurrence on that level In the recent sell in the market, it's not so-voluminous Also with 1-Week timeframe, i still have the same reason to long after my awaiting level is reached... stoch rsi is also oversold and ready to turn around, the snapshot is below: You don't need to rush to join the market, you can catch up any right time... Be patient most times, because patience pays more than it pains. Please drop your thought as comment if you agree with me or otherwise, let's learn together to trade successfully Good luck to y'all CryptoKings
COINBASE:BTCUSDLong
by Skuchies_CryptoKing