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Gapfill

CGC Gap FillCanpoy Growth Corp's price filled the gap(blue dashed lines) that was created on February 13th -14th with a close today of $20.30, a gap fill that was anticipated after price failed to move higher last week and back into the rising trend channel(orange lines). Today's price move can mostly be attributed to the overall selloff in global equities last night into today over Covid19 fears, but likely would have traded lower and filled the gap even without the overall market decline. The key level to watch now that the gap has been filled is the last low made before price attempted to regain the uptrend channel, the low being $18.65 indicated by the yellow line. That yellow line stems from the low made on February 11th and was the last level of price demand before price moved higher, ultimately stalling out at the lower line of the uptrend channel which acted as resistance rather than the support level it had been previously during the uptrend. In technical analysis, previous levels of price support become price resistance once they are violated to the downside. A move below the yellow line would create a pattern of lower lows and lower highs in price after the failed attempt to regain the uptrend channel and could be viewed as a return to a negative price trend. For now price remains neutral and will remain so until/unless price moves below the yellow line, at which point a bearish case can be made for price. A move above last weeks highs would be bullish, but looks unlikely as long as global traders are being spooked by Covid19 and its potential short and intermediate-term affect on global supply chains.
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by PrepForProfit
EUR/USD - Gap AheadEU is coming to a critical level just above 1.07 at ~1.0718. If this gap from April of 2017 fills, I'll be looking for price action at the bottom for reversal. I'm also keeping an eye on the RSI for daily divergence. If you found this to be insightful or helpful, please show appreciation by hitting the like button. If you want more ideas I invite you to follow as well! I try to be here for all of my followers with any questions they might have. Feel free to shoot me a DM or comment below to start a conversation!
Long
by chartsareforships
Twitter: Jack Dorsey's Second Gap Fill This MonthSquare rallied hard after filling a price gap a few weeks ago. Now Jack Dorsey's other company, Twitter , is doing the same thing. Strong quarterly results on February 6 sent TWTR ripping on heavy volume. In a nutshell, better user monetization and engagement restored confidence in the social-media platform's business over the long term. The stock has consolidated its gains as it chops along the 200-day simple moving average (SMA). It also probed the bullish gap but never filled it. Next, the weekly chart just completed an inside candle: a higher low and lower high. It also closed a few pennies below the previous Friday. That can signal volatility is calming before movement returns. Traders will now watch for TWTR to hold the 200-day SMA as it pushes against the $38-40 congestion area from October. Above that, the 2018 peak around $47-48 comes into play.
NYSE:TWTRLong
by TradeStation
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SHCOMP Gap Fill and 61.8% Fib BeatI apparently forgot the #1 rule in investing that has remained true since the financial crisis: don't bet against global central banks and their ability to maintain economic(stock) expansion. The PBOC has injected enough liquidity during this coronavirus outbreak to ease all trader fears of a market decline which has led to price filling the gap that was created around the Chinese New Year, and as of last night have now moved price back above the 61.8% fibonacci retracement level. Both lower indicators are leaning bullish with a fresh bull cross in the PPO and an RSI that looks ready to move back into bullish territory above the 50 level.
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by PrepForProfit
ONTX gaps. Mostly good news, some badI don't know the reason for gaps being filled, maybe someone can explain that. What I do know, is I watch them get filled in every market I trade in from crypto, to FX, to now stocks. That being said, currently, ONTX is at .51 and two gaps were filled by today's spill. And, one was ALMOST filled on the run up. But, there are 3 below us still at .32, .20, and .17. Above us is is .76, 1.40, 5.40, 11.50 and probably more higher. But I wanted to show here on the 4hr log chart the gaps and their fills. Those in green have been filled and those in pink have not. They don't always fill in order, other wise all the ones above would've been filled already, but they usually get filled. One crazy example is BTC1!, the Bitcoin futures chart had a gap at 13.8k from jan 2018 on the 4hr chart, it fell till 3k then in June of 2018 came all the way back up and filled that gap then pulled back. So, for the long term holders, this is great news. Might even put in some buys at .17. Of course nothing is a guarantee, but just food for thought. Good fortune yall
O
by Godismyfortune
EBay: Channel Breakdown UnderwayE-commerce stock eBay reported earnings last week. The backward-looking results were ok, but forward guidance wasn't so hot. The resulting drop is creating some bearish chart patterns. First, EBAY formed a tight channel between $34.50 and $36.60 since October. It's now breaking the bottom of that channel. Second, the channel began on October 24, when EBAY gapped lower on weak guidance. Its recent drop on January 29 wasn't technically a gap (because there was some price overlap with the previous session). However, you have a gap down, consolidation and further downward pressure. The direction and high-volume price moves have been negative. Third, EBAY has formed something of a head and shoulders since last March and April. That pattern follows a failed breakout attempt in early 2018. Nothing bullish in that. Finally, EBAY has gone almost two years without making a new 52-week high, unlike the broader S&P 500 and Nasdaq-100 indexes. A steady lack of relative strength like that is also a sign of underlying weakness. A year ago, EBAY had a bullish gap between $31.02 and $32.73. It may now come into play as a downside target. Given the market's recent fears, traders looking to get bearish may want to start with weaker names already under pressure. EBAY could fit that bill.
NASDAQ:EBAYShort
by TradeStation
$SHAK Has A Big Gap To Close$SHAK is climbing after getting some love from $GS. Goldman Sachs keeps a Buy rating on Shake Shack (SHAK +8.9%) after digesting the company's ICR presentation yesterday. The firm sees significant upside from the restaurant operator's new partnership with Grubhub in particular. "As part of the partnership, GRUB has provided SHAK with detailed customer data, as well as marketing resources such as loyalty and targeted promotions," notes analyst Katherine Fogertey. She is also positive on the menu innovation highlighted yesterday by Shake Shack management at the ICR Conference. Goldman's price target of $115 on Shake Shack reps +60% upside potential and is well-above the average sell-side PT of $75.00 and 52-week high of $105.84. Shares of Shake Shack were back over $70 for the first time since early November. Shake Shack (NYSE:SHAK) also gained after presenting at the ICR Conference. A key highlight from the restaurant operator was the plan to expand at a measured pace in China, South Korea and Singapore. As for menu innovation, new chicken products are planned for the middle part of the year and the restaurant operator is set to introduce a veggie burger later in the year. The company sees improving Shack-level operating margin by working on long-term economies of scale in the supply chain and accelerating the use of technology to deliver labor efficiencies. As always, trade with caution and use protective stops. Good luck to all!
NYSE:SHAKLong
by InsiderFinancial