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ZOM: Should we panic-sell this now?Hello traders and investors! Let’s talk about ZOM today, and do our usual Multi Time Frame Analysis (MTFA)! First, let’s start with the 1h chart. ZOM did a classic Double Top chart pattern at $ 2.91 (black line), and now it is dropping to its support levels. The first support lost, after some fight, was the 21 ema. Then the green line at $ 2.34, and now it is trying to lose the blue line at $ 2.13 as well. Since it is a short-term bear trend, ZOM will keep seeking for lower supports, until one works and holds the price. What’s more, according to the Principle or Polarity , when a support is lost, it is supposed to work as a resistance next, and vice-versa. The green line and the 21 ema could make a strong resistance zone for ZOM in the short-term. Also, keep in mind that ZOM lost the green line by doing a Gap , which is also going to work as a resistance. The fight is not going to be easy for ZOM, but let’s see if the daily chart has something else to tell us: In the mid-term, the trend is clearly bullish, and in a bull trend, pullbacks are expected and seen as opportunities to buy. We have a strong support area between the 21 ema, the black line at $ 1.48 (previous top) and the Gap (yellow rectangle), and ZOM could retest again this area and the trend would still be bullish. What is interesting is the volume , as it increases during upside movements, and decreases when the stock drops or enters in a congestion, meaning that the buy force is stronger than the sell force at this moment. And if you liked this analysis, remember to follow me to keep in touch with my daily updates. And support this idea if it helped you! Let's wait for more confirmation on the charts, before jumping into any conclusion regarding ZOM. Thank you very much,
AMEX:ZOM
by Nathan_The_Finance_Hydra
18
PLTR: A very STRONG support level for PLTR!Hello traders and investors! Let’s see how PLTR is doing today! It reported Earnings, and it is dropping sharply today, but how to proceed now? First, since it lost the Key Point we discussed in my last analysis, it just dropped to hit the next target, which is the $ 28.07. If you missed my last analysis, just check the link below. The Key Point was the dual-support level made by the purple trendline and the gap support at $ 34.04. The trend is clearly bearish, at least in the short-term, as the 21 ema is pointing down, but we don’t see clear lower tops/bottoms (except in smaller time frames), and the 21 ema is too far from the price. Since we just hit a support level, now is the best time for a bullish reaction . You might be asking, why is this black line a support level? The daily chart will tell you why: The $ 28.07 was a previous top level for PLTR, and according to the Principle of Polarity, it is supposed to work as a support now. Today we had a Gap (yellow rectangle) and the volume increased a lot, and since we are near a support level, this could be signs of exhaustion of the bear trend, a nd this gap could possibly be an Exhaustion Gap . This week we'll know what kind of Gap this is. If PLTR loses this black line, the next target will be the $ 22.50 (green line, previous bottom), but it won’t be easy, as it’ll require a lot of strength for PLTR to hit there without a pullback first, at least in the 1h chart, given all the information we had: Possible exhaustion gap with high volume, near support level, and far from the 21 ema in the 1h chart. This is a quite strong support level. But so far, we have no confirmation of any bullish reaction, so, we must be careful. Let’s monitor PLTR closely, and if you liked this analysis, remember to follow me to keep I touch with my daily updates, and please, support this idea if it helped you! Thank you very much.
P
by Nathan_The_Finance_Hydra
11
PLTR: Time to panic? Keep these key points in mind.Hello traders and investors! Let’s see how PLTR is doing today! In my last analysis (Feb 02, link below) I presented some reasons why we shouldn’t panic during the massive drop from the $ 44 to the $ 31. Now PLTR is around $ 36 again, trying to resume the bull trend. First thing to keep in mind: It has a solid support level at the $ 34.04 (is the gap area), and the purple trendline, which worked as a support at least 3 times in the past. So, this is a Dual-Support level . We may see PLTR at these levels if it loses the 21 ema in the hourly chart, something that won’t be easy, given we have a Dragonfly Doji closing above it now. The 21 ema worked very well for us here, as the price rested above it for 3 days before starting going up again, giving plenty of time for those who were interested in it to buy at a very safe and good price level. The volume increased again when it started the bullish movement, indicating that there is true buy force here, but with the market showing some weakness, probably PLTR will suffer a little bit as well. It could do a pullback to the 21 ema again, and this wouldn’t ruin the bull trend. The 21 ema in the daily is getting closer to the Dual-support level mentioned in the hourly chart above, so, the price level around $ 32 - $ 33 is an interesting key point to keep in mind. Also, PLTR is about to report Earnings next week, so we must watch out, as this surely will bring some volatility. We’ll keep studying PLTR, therefore, remember to follow me to keep in touch with my future updates. The link to some of my previous analyses are below, and please, support this idea if it helped you! Thank you very much.
P
by Nathan_The_Finance_Hydra
4
BP LongDowntrend Channel breakout, revisit trendline Breakaway Gap. Trendline break ABC Patten: Swing A crossed SMA50 (1st) and SMA200 (2nd), -- Wave#1 SMA50 Crossed SMA200, -- Golden Cross. Swing B tested SMA200 as support. -- Wave#2 Swing C will be not less than A; -- Wave#3 Entry 21.5 Stop 20 Target 27 I am not a PRO trader. I trade option to test my trading plan with small cost. The max Risk of each plan is less than 1% of my account. If you like this idea, please use SIM/Demo account to try it.
NYSE:BPLong
by PlanTradePlanMM
2
VYNE - upTrend is underwayVYNE gapped strongly on 25th January, breaking out of a 10-month resistence @ 2.68 but alas failed to hold on to this level as it then gave up all the gains over the next 1 week to close the gap before attempting to reverse up again. It finally broke and CLOSED above this 2.68 resistence (now turned support) on 3rd Feb, retesting this new support over the next few days before springboarding off decisively today with a huge green candle, signalling that it's uptrend is now underway! :D Initial stop loss just below 2.68 (trail stops up with at least 12%-15% wiggle room on the way up). Expect to see some consolidation each time the stock hits into some old "resistences" on the way up. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to let me have your thoughts ! :)
NASDAQ:VYNELong
by Juliac
12
My thoughts on the gaps in GMEI was looking at the GME daily chart and noticed a gap has been created from the big move down, after the restrictions on buying shares occurred. I also noticed that there was a gap created on that original big move up. It was then immediately filled during the heavy short attacks. It is my understanding that "gaps like to get filled". I have seen this on many charts, but how long it takes to fill (if it does) can vary greatly. I just wanted to chart this now to see how it eventually plays out.
NYSE:GMELong
by GR3ND3L
2
AAPL: Good reaction above a TRIPLE-SUPPORT level!Hello traders and investors! Let’s talk about AAPL today! In my last analysis, we discussed the possibility of AAPL losing the Pennant downwards, and this is exactly what happened, given the daily chart was too stretched back then. If you missed my previous analysis, the link to it is below, as usual. Now, AAPL is reacting well, and it is trying to reverse this short-term bear trend. The stock is trading above the 21 ema again, this is good, but more importantly, it is doing higher highs/higher lows , and it triggered a bullish pivot point by defeating the red line at $ 136. Now, the $ 136 is working as support, along with the 21 ema. Let’s see the daily chart now: In my last analysis, I set a target at the black line ($ 137), as it was a strong previous resistance in the past, but when AAPL lost the Pennant in the hourly chart, the sell-off was so intense that it lost the black line, and it only found a support in the next bottom area, made by the 21 ema and the red line at $ 132 (previous top) and the purple trendline, filling a gap on the way. This was a very strong triple-support level , and now it seems AAPL is starting to react, the only thing that concerns me is the low volume. According to the 5th tenet of the Dow Theory , “the volume must confirm the trend”, and when the volume doesn’t follow the price, we have a divergence . If AAPL loses this triple-support level again (which will not be easy), then we may start to think about a sharper correction, but this wouldn’t be enough for a reversal yet. We must follow Apple closely, and if you liked this idea, remember to follow me , and please, support this analysis ! Thank you very much. Have a great weekend.
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
5
ZOM - impressive price actionZOM broke out of a 22 months resistence @ 0.50 with a Breakaway Gap on 11 Jan (after some stealth accumulation for 2 months prior). Breakqway gaps occurs at the start of a trend and do not get filled (until one fine day when the stock finally turned bearish). The stock has been trending nicely since, with a bull flag consolidation in the past few weeks before another strong move up yesterday. For those who have yet to stake into this stock, it is difficult to wait for a pullback (which may or not may not happen before it goes much higher). For those who do not mind taking calculated risk, consider to dip your toes in from 1.30-1.50, with initial stop several ticks below yesterday's large candle's low @ 1.16. Position size accordingly to cater for this wide initial stop loss. Near term target of 1.75 (some resistence around here) should be pretty achievable and the longer term, I feel that 2.98 is definitely plausible. Protect profits with trailing stops at pivot lows on the way up! Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
AMEX:ZOMLong
by Juliac
1
SPX: The bull trend still persists!Hello traders and investors! Let’s see how the index is doing today! The index is performing very well these days, and it is frustrating the expectations of the bears again. It defeated the black line at 3827, which seems to be a Key Point for SPX, as it worked as support and resistance a few times in the recent past. Now, this point is supposed to work as a support level, according to the Principle of Polarity. What’s more, we have the 21 ema as a support, but we can’t rely too much o that at the moment. It seems the index will try to fill its another gap, and even retest the green line. In the daily chart, the index triggered the Downside Tasuki Gap , which we mentioned in my last analysis (I did the analysis before the market close, right now it seems it is more a big Harami pattern), and now the index is just resuming the trend. The index would be more bullish if it closed above the 3827, so, the situation is not easy to read. The volume was quite low these days, but it seems the bull trend is still here. We must keep our eyes open, and if you liked this analysis, remember to follow me , and support this idea! Thank you very much.
SP:SPX
by Nathan_The_Finance_Hydra
12
Raiden to regain Daily Uptrend?Raiden Resources Limited (ASX:RDN) is an ASX copper-gold exploration company focused on discovering large scale mineral deposits in the world class Tethyan region of Eastern Europe. Raiden operates in low cost and mining friendly jurisdiction’s which remain underexplored, seeking to systematically apply modern exploration techniques to discover Tier 1 projects. Outlook: - Daily Support currently Holding after recent trend break, area of interest is at Daily Resistance and Retest of Daily Uptrend. I think the only thing that help price regain trend will be Good Drilling results. Also note the Daily GAP is unfilled just below current price. If price was to regain trend, my target would be previous high from October. If support break then GAP fill is likely. Watching. "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
ASX:RDN
by Trader_Johnni
2