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Goldencross

CVNA - Trending but volatileCVNA had broken out of its basing formation neckline (a region between $17- $20) on 8 Jun on huge volume. It hit a high of 28.52 on 16 June before pulling back to retest near the neckline @ 20, then rebounded again from there. IT's trend is in earlys stage yet with immediate suport @ 20. However be mindful that lower priced stocks tend to have huge volatility (both up and down). Hence it is important to position size accordingly or chose to exit if it pulls back beyond a certain % and wait for entry again once there are signs that the short term correction is over. Watch out for resistences on the way up around $42 and also around $53+. Also be careful around earning releases. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
NYSE:CVNA
by Juliac
CFLT - New trend emergingCFLT broke above a basing neckline on 2nd June and has now pulled back to retest this neckline for since the last few days. So far, this neckline is still proving to be a support and it could be a good time to stake into the new uptrend that is emerging (with initial stop loss below the neckline at $31.50). Other technical factors that have lined up to increase its odds of success are: 1. Basing for the last 12 months (the long the basing period, the more sustainable the new trend) 2. now trading above it's 200 day moving average with a golden cross on 31st May 3. good increase in volume (ie., accumulation) seen in the weeks leading to the breakup on 2nd June The next area of strong resistence (aka supply) could be around $43 - $45 (which is 22-25% upside from here). There is a reasonable chance that it could go beyond this level in the coming months, however, I will manage trade with trailing stop loss along the way up. Sometimes it is ok to be stopped out prematurely (high chance in a volatile market) but we can always re-establish a position once the consolidation is over and momentum returns. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:CFLTLong
by Juliac
5
NQ - Bull intact but approaching near term resistence Despite a generally choppy market since February this year, Nasdaq had a Golden Cross on 13 March which turned out to be sustainable and some encouraging signs are also observed since: 1. NQ began to lead the other indices (namely SPX and IWM), a sign of a "risk off" sentiment as it means more money had been piling back into "riskier" tech & discretionary stocks 2. NQ had stayed above it's 50 day moving average (> 2 months now) with rather "shallow" retracements no more than 38% of each mini swing. 3. However, SPX was mostly stuck in a range for the past 1.5 months (despite being above it's 200 day MA), hence it can still make trading the wrong stocks rather frustrating. 4. IWM (Russell 2000, ie., small caps) has been the laggard, still unable to rise (much, if at all). This is normal during an "early" bull market. Small caps usually begin to rise in a more sustainable manner when the bull market is well underway, and should they start to get extremely bullish, then it is usually a sign that a market top might be in the horizon. Now that Nasdaq has been taking leadership (especially the FAANGS) for the past 2 months+, the sentiment remains sanguine. Some caution now as it is approaching a critical resistence zone 13650 - 13720 (prior peak in Aug2022), and some pullback in the near term will not be too surprising The depth of the next retracement going forward will give a clue if the uptrend is still intact. Should NQ be able to clear this resistence zone (13720) eventually, then the overall market sentiment could get a good boost (including the small caps). Perhaps the resolution of the Debt Ceiling could be the catalyst? But until then. Just my take. Let's see :) Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:NDX
by Juliac
2
DUOL - buy the dipsDUOL broke out of a base formation neckline @ 114 strongly on 2nd March this year and then did a classic retest of the neckline on 13 March, affirming that the neckline @ 114 has now become support. It then went on to hit a high of 147 before retracing all the way back down 116.82 (triggering a trailing stop loss @ 130). A bullish morning star pattern than formed on 5th May and a re-entry was triggered on 6th May. However with earnings reporting on 9th May, one has to decide whether it was worthwhile to take the risk to long here. With the stock already dipping 20% from it's high of 147, the odds of an earnings surprise to the upside could be higher. Nevertheless, risking no more than just a small position (before earnings) seemed prudent. Now that earnings is out of the way (upside surprise), there is a chance it could break it's last recent high of 147 in the near term. On the bigger picture, the stock is now on an uptrend and there is room to rise in the coming months. However market could continue to be volatile hence it could be less risky to buy any near term dips rather than to chase breakouts. Learning to manage a position in such volatile conditions is paramount. I would still place trailing stops and am prepared to get stopped out but re-enter at the next bullish trigger, but only if the chart still looks bullish on the bigger picture. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:DUOLLong
by Juliac
DKNG - breaking out form base DKNG has been forming a (double dip) base for almost a year now, ticking off a number of criteria that could increase it's odds of being a successful medium term trade going forward: 1. Series of higher hi's (HH) and higher lo's (HL) since hitting the low on 28 Dec2022. 2 Golden cross on 28 Feb2022 3. It's 200 day MA has begun to turn up 4. Every dip (since hitting the low in Dec) did not violate it's 50 day moving average, signs of strength. It just broke above the base formation neckline (on average volume however) last Friday. It is possible for it to slip back below this neckline in the near term. I will be interested to stake any dips going forward (provided the dip is within 50% fib retracement of it's most recent mini upswing). Earnings is expected on 5 May hence do be mindful of volatility around then. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:DKNGLong
by Juliac
2
RRGB - Great price action so far (buy the next dip)RRGB has the hallmarks of a stock that could potentially be a great winner. It broke out of it's base formation on 1st March on earnings beat with a strong breakaway gap (Breakaway gaps signify the beginning of a new trend and does not get filled in the near term). It then proceeded higher over the next few days before pulling back to the breakup level @ 10.60 on 14 Mar, and then bounced right off again from there. This classic "break up and retest" establishes the neckline as the new "resistence turned support". If one had been watching this stock, going long shortly after this "retest" would have been ideal. However, since it is likely the trend is still in early stage, any near term dip (eg to fib retracement levels of 38-50%, or formation of bull pennant or flag etc) would still be a good opportunity to long. Let's see if the opportunity presents soon. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:RRGBLong
by Juliac
NFLX - uptrend NFLX fell 77% from it's peak before finding bottom @ 162.71 on 12 May 2022. It began to trade sideways for the next few months until it propelled out of this range on 20 July after earnings beat. After this, it again traded sideways in this new higher range for the next 3 months until another earnings beat on 19 October that finally propelled it above a rather significant neckline @ 251. 1 week+ after the breakup. it began a steep pullback that brought it all the way back to the neckline before rebounding strongly from there. By now, it is clear that NFLX has turned the corner and is in fact now above it's 200 day MA (potential Golden Cross on the horizon). Buy the dips going forward and trail protective stops up accordingly. Expect some resistence as it approach a major gap fill @322 area. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:NFLXLong
by Juliac
Near top top 🌳🌪️The technical analysis currently reveals a promising bullish trend in the NEAR market. The price is approaching a long-term simple moving average (SMA) and demonstrates a strong bounce. This positive momentum could lead to the appearance of "golden crosses", where a short-term SMA crosses above a longer-term SMA (another strong line). These technical signals bolster optimism for the continuation of the ongoing upward trend in NEAR. On some day, it will jump
Long
by ATheDay
ALGN - Will earnings be the catalyst?ALGN gapped up strongly on Earnings beat during its last earning on 1st Feb23. It then subsequently corrected and partially closed the gap, finding support eventually @ 297 the previous neckline region (now tuned support) and also right at the 38.2% fib retracement of the big recent upswing AB. Since it's last Earnings, the stock had been wedging in a range but what is clear is that the bogger trend is likley still on the upside as there was a Golden Cross that occured on 14 Feb (nearly 2 month ago) with both the 50 and 200 day MA sloping up now (mild slope for the 200 day MA as it will take a longer time to refect the new trend). Plus the fact that the stock has been holding above it's basing formation neckline. Any dip back towards the neckline region (297-303) could be an opportunity to long. I suspect the coming earnings expected on 26th April could provide the catalyst to propel it above this trianglle pattern. However, trade earnings at your own risk. If trade works out, I will be watching to scale out (partially) from 425 - 455, and manage the rest of the position with trailing stops. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:ALGNLong
by Juliac
🌀Golden Cross And Death Cross Patterns Explained🌀 💱Today, we're talking about the exciting world of technical analysis, specifically the golden cross and death cross patterns. 💱So, what exactly are these patterns? Well, let me break it down for you. The golden cross pattern is a bullish signal in which a shorter-term moving average rises above a longer-term moving average. On the other hand, the death cross is a bearish signal in which a shorter-term moving average falls below a longer-term moving average. Simply put, the golden cross is a sign that the stock is on an upward trend, while the death cross indicates a downward trend. 💱Now, I can hear some of you thinking, "Why are we talking about crosses? Shouldn't we be discussing actual trends and data?" And I get it, the terminology can be a bit confusing. But the reason these patterns are so important is that they can give you an early indication of an approaching trend. 💱For example, let's say you're a savvy investor on the hunt for the next big thing. You spot a stock that's been on the decline for months, but suddenly, the shorter-term moving average crosses above the longer-term moving average, creating a golden cross. This could be a good sign that the stock is about to turn around and start heading upwards. 💱On the flip side, if you're already invested in a stock that's been doing well, but suddenly a death cross appears, it could be a sign to cut your losses and sell before the stock drops further. 💱Now, don't get me wrong, these patterns aren't foolproof. There are plenty of instances where a golden cross or death cross doesn't accurately predict a trend. But it's still a valuable tool to have in your toolbox when it comes to analyzing the markets. 💱So, whether you're a seasoned investor or just dipping your toes into the world of stocks, keep an eye out for those golden and death crosses. They may just give you the edge you need to make informed trading decisions. Happy investing! I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
9
SE - Formed a BaseSE hit it's lowest point on 9 Nov22, several days before an earnings beat pushed gapedthe stock up strongly. However the rebound since had been volatile until another earnings beat on 7 Mar23 gapped the stock up strongly again, this time well above it's 200 day Moving Averae, and a Golden Cross materialised a few days later. The Gap that happened this time had remained unfilled since. The stock has clearly turned the corner. Looking to accumulate at this recent dip. However, more momentum might materialise only if and when the stock eventually is clear and stay above the neckline @ 92. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:SELong
by Juliac
Inverted Head & Shoulders with Golden CrossIt's not a coincidence that Elon was on twitter having a who wore a golden cross better with the pope. This idea is using the 200D and 50D golden cross and an Inverted Head & Shoulders and a price target of 300. Be Warned. TSLA has faked out many large structures and major MA crosses to trap both Bulls and Bears. I bought weekly OTM puts on TSLA before close on Friday but I will stop out and enter long should this structure retest. It really depends how the Biden Admin handles this most recent surprise OPEC+ supply cut just as they need to restock SPR. This could be the moment the FED has to pivot and Powell turns back on the printer to pay for it or someone is getting their hand slapped.
NASDAQ:TSLA
by SPYvsGME
1
Bull FlagSuku has formed a nice bull flag here after breaking out of its falling wedge. Confluence: Golden cross on the 50/200 day MA (dotted), and has been sitting in between the 50 and 200 day EMA for 40 straight days now, and is one of few in the crypto market that has yet to break above its 200 day EMA. Targets remain the same as on my previous post. We could even see 15 cent area near the 200 day SMMA since this has been dragging out so long. Previous posts are here and here: Higher targets near 15.6, but awaiting channel break: Original falling wedge post: Long-term, but long-shot hopium chart:
COINBASE:SUKUUSDLong
by dudebruhwhoa
2
CRM - approaching neckline @ 195CRM had been basing for about 10 month now (since last May), the first sign that the worst could be over was when it broke above the 200 day movving average on 27 Jan, then a retest of this MA a month later on 27 Feb which validated the 200 day MA as the new "support". Several days later on 2nd Mar, it gapped up strongly on earnings beat, stopping right at a significant neckline around 195. Then proceeded to pullback and almost closing the entire gap in the coming days. While the stock has been staging a recovery since hitting the low in Dec last year, it also experienced steep pullbacks on the way up. Buying the dips would certainly had been a better option in this chopping conditions. Despite the volatility, what is clear however is that the stock is still on it's way to recovery, forming higher hi's (HH) and higher lo's (HL), with RSI staying at 50 or higher since early Jan, and a Golden Cross since 10 Mar. It could attempt to break the neckline @ 195 again in the coming days and if and when it is finally able to break and stay above this level, then we could (hopefully) see more a more steady rise with pullbacks that are less steep (ie within 50% fib retracement of each mini up swing). And the next target could be around 220. We can "predict" price targets but it is important to manage our risk with trailing stop losses and see what the market gives us. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CRMLong
by Juliac
SPX: Bullish Reaction Above Golden Cross.• The SPX is doing a very powerful reaction above a critical support level; • First, as seen in the daily chart, it hit the 3,949 support, and it is doing a powerful reaction. Last Thursday it did a Bullish Engulfing, and las Friday, it broke the 21 ema and the 4k; • In the weekly chart, it is doing a Hammer candlestick pattern, a bullish reversal pattern that works 60% of the time (according to Bulkowski – Encyclopedia of Candlestick Charts); • In addition, this Hammer appeared just above the purple line, which was a previous resistance when the SPX was inside a Descending Channel; • Moreover, this Hammer appeared above the 200 ma, after the index made a Golden Cross (the 50 ma broke the 200 ma upwards); • All these signs indicate that although the index may look overbought short-term wise, it has decent chances of maintaining the bullish bias mid/long-term speaking, especially if look at the weekly chart; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra