Get started

Index

TSLA - turned the corner?TSLA had been on a wild ride down since peaking on 4th Nov 2021, with many strong bear rallies in between. It finally hit the bottom on 6th Jan this year and began a rather strong rally until early Feb where it started to churn violently for the next 2.5 months, shaking out any weak bulls. A sustainable rally emerged again from 27 Apr and more signs have been emerging that the longer term trend have changed to bullish (short term pullbacks not withstanding): 1. a close above the 200 day moving average on 31 May and continued to propel higher for more than a week now 2. a break above a longer-term neckline in the region of 200-215 this week and 3. RSI line on it's MONTHLY chart has crossed above the 14 SMA line (signifying the likely emergence of a longer-term bullish trend). However, TSLA has been traditionally a volatile stock, hence it is safer to wait some dips to go long. Any retracements in the near term should preferably not breach the neckline support (200 - 215), although it is not up to us to decide how far it would pull-back . Wait to see the stock finding possible support (after a retracement) to go long (with stop loss below the most recent pivot low). Disclaimer: Just my 2 cents and not a trade advice. I may have an opinion but I do not hope. Cut loss (sooner rather than later) and move on if wrong. 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:TSLALong
by Juliac
Dow Futures (YM) Rallying Higher as ImpulseShort Term Elliott Wave in Dow Futures (YM) suggests rally from 3.15.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.15.2023 low, wave 1 ended at 34363 and pullback in wave 2 ended at 32619. The Index has turned higher in wave 3 with internal subdivision as another 5 waves in lesser degree. Up from wave 2, wave (i) ended at 3330 and dips in wave (ii) ended at 32737. Up from wave (ii), wave i ended at 33212 and pullback in wave ii ended at 33060. Wave iii ended at 33863, wave iv ended at 33797, and wave v ended at 33894 which completed wave (iii). Pullback in wave (iv) ended at 33448 as a zigzag structure. Down from wave (iii), wave a ended at 33665, wave b ended at 33780 and wave c lower ended at 33448. This completed wave (iv). Wave (v) of ((i)) is currently in progress. Up from wave (iv), wave i ended at 33745 and pullback in wave ii ended at 33635. Expect the Index to extend higher a few more highs to end wave v of (v) of ((i)). Then it should pullback in wave ((ii)) to correct cycle from 5.25.2023 low in 3, 7, or 11 swing before the rally resumes. Near term, as far as pivot at 32616 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.
CBOT_MINI:YM1!
by Elliottwave-Forecast
NCR road to around 30The decline seen in the stock in April and early May was halted by the 30 level of the 14-day RSI (purple line) and better-than-expected news. Currently, it is on an upward trajectory, crossing the 50-day EMA (gray line) and retesting this level. This provides support for attempting to surpass the 200-day EMA (turquoise line) at around 25.5. The question is whether we can sustainably stay above it. In the first instance, the target price is $26, and if it successfully retests the 200-day moving average, it could strengthen up to $30 by the end of June. In the analysis, the yellow line represents the 20-day BB (Bollinger Bands).
NLong
by BostonTrendLab
RECL : RESPECTING H & S PATTERN As given in previous analysis, price target for h& s pattern for RECL is arround 187. As this view is on weekly basis target too can achieved may be 4 to 6 weeks. But there are many stops in between where RECL can revert. After 126 Rs break out Recl had moved 20 Rs ie 17 % . Normally stock mo e up 20 %, so 3 percent ie 3 Rs upside is remains. It is confirmed by Fibonacci extention level 1.272. So point is RECL is approaching resistance (short term). RECL stock if we see in daily chart, it jump 10 to 10 to 15 Rs in 2 ,3 days settle there for next 2 3 days and again come down 10 Rs. This range is maintain for 2 to 3 weeks and then break out. Point here is book 25% profit near 147and re enter 136 to138. If it move above e 147, it can go up to 155. as it is 1.414 fibonacci level book another 50 % of remai ing and re enter at 145 again. Don't sell all as it 8s n9t necessary that recl should maintain its past moves.
NSE:RECLTDLong
by Trendz9
JSE ALSI 40 Symmetrical Triangle wait for break up to 81,637Symmetrical Triangle seems to be forming on the JSE ALSI 40. This is where price constricts into a triangle that is not facing up or down. We now need the price to break above the Apex, which will send the price higher. The beauty about Symmetrical Triangles, is that they are generally continuation patterns to the prior trend. With the up flag pole before the triangle confirmed, means we will expect a break up. Price>200 RSI>50 Target 81,637
TVC:SA40Long
by Timonrosso