Get started

Resistancebecomesupport

UNG rising in the cold of winterAS shown on a 4H chart, UNG which tracks natural gas futures has been rising now for three weeks with the typical demand of the winter months and the cold weather impacting new supplies while Russia's war continues. Volumes are relatively high while dual TF ( 4H and 1Week) crossed the 50 line on December 28. Price has now crossed over the Fib -.5 line of the downtrend from October and has that line and the anchored intermediate term VWAP for support and the setting of a stop loss ( strength in confluence) I see this as a setup for a long swing trade of UNG or BOIL or XNGUSD on forex or any of the gas companies ( LNG) to trade commodities while the equity markets get sorted out.
AMEX:UNGLong
by AwesomeAvani
Lyft Showing signs of Life, have we Bottomed?Hi guys! Welcome to an analysis on macro developments of Lyft (LYFT). With the markets doing what they've been doing this year, we have to ask, " Will the % gains come to stocks that are still many many % down from their tops"? Or are some stocks just doomed to fizzle out and take time to re-build/ grow? Well, if we are in a Bull market, which i personally think we are... Assets with Solid Market Structure & Technicals will also be included into the liquidity being injected into the markets. Taking a glance under the hood with LYFT, i can see some promising developments playing out. Making me consider LYFT as a Long play. This analysis is strictly on Technicals and is on the 1 Week timeframe to get a big picture view. So lets look at Price Action: Last week candle has broken ABOVE the Major Resistance trendline which has worked to cause Price Declines since November 2021 Notice how we've had many touch points on this Resistance line in RED. I believe it to have been weakened, thus the current BREAKOUT. Do we go back to print All Time Highs now? Absolutely NOT. It requires alot of energy or momentum to break major trends. But its the 1st step to the road of getting back to all time highs. We also need Confirmation before anything. This 1 candle is not enough, though an extremely BULLISH candle, a Bullish ENGULFING candle. Which is a great sign and pushs probabilities for confirmation as well. But we need to now Test the Resistance line as SUPPORT. With the overlaying Resistance line ABOVE us, i believe we will get a push down to the Support Test. But so far the break out to me is promising: Why? Look to the Volume for clues. We are so far seeing increased volume. It is important that it continues. If at the end of this week, you see Volume has declined. We would need to reassess the breakout, as that would potentially mean this could be a Fakeout. So getting ABOVE Major Multi year resistance, would support the idea of Trend Change/ perhaps Trend Reversal and a sign hinting that the Bottom is in. Another Bottoming sign observed = BULLISH DIVERGENCE being spotted. This is when Price Action prints Lower Lows BUT Indicators print Higher Lows. Seen in the RSI -> Notice if and when we get above the Resistance line, we will see large % gains. Another indicator to watch would be the STOCH RSI, as we are getting close to a BULLISH CROSS. If we get it, we will see bullish momentum come in, perhaps pushing prices above this horizontal resistance line. Anyway i think things are hinting at the idea that we have bottomed. We are in a critical moment for LYFT and we must continue to monitor this week and more. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on LYFT in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:LYFTLong
by SafofAllTrades
NQ - Bearish Divergence (short term pullback imminent?)A bearish divergence can be seen on both the SPX and Nasdaq (with similar divergences also seen on most of the FAANGT stocks), coupled with the fact the indices are now in the overbought territory, a pullback in the near future could be likely. We saw both NFLX and TSLA sold off after hours despite strong earnings announcements. The market has been running into earning season and a correction would not be too surprising even if earnings are good ("buy" on expectations and sell on "news"). That said, divergences on the daily chart usually predicts a short term reversal (lasting several candles on the average) and not a predictor of a bigger trend change (unless seen on larger time frames like the weekly, if not monthly). The market remains in uptrend with good support around 15100 - 15300 region. This is an area comprising: 1. a horizontal resistence turned support 2. the 50% to 61.8% fibonacci retracement of the recent AB swing 3. gap fills @ 15300 and also 15120 However, be wary should it break the support @ 15100. So let's see what happens. 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!
TVC:NDQ
by Juliac
CRM - Breakout Falling Trend [MIDTERM]- CRM has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. - CRM has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 177. - Further rise to 233 or more is signaled. - CRM is approaching's resistance at 192, which may give a negative reaction. - However, a break upwards through 192 will be a positive signal. - Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term. - Overall assessed as technically neutral for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price Verify it first and believe later. WavePoint ❤️
NYSE:CRMLong
by wavepoint99
$NDSN is coming up on the right side of its base!Notes: * Strong up trend on the higher time frames * Strong earnings track record * Basing for the past ~15 months * Increasing volume on the monthly and weekly charts * Currently breaking out, with volume, of a long germ pivot of 242.64 on the weekly chart * On the daily chart it broke out, and retested that pivot as support while also pulling back to its 20EMA * Has been seeing more accumulation recently, indicating institutional demand Technicals: * Sector: Industrials - Specialty Industrial Machinery * Relative Strength vs. Sector: 1.41 * Relative Strength vs. SP500: 1.09 * U/D Ratio: 1.24 * Base Depth: 37.2% * Distance from breakout buy point: -7.93% * Volume -60.53% below its 15 day avg. Trade Idea: * You can enter now as the price is bouncing off of it's long term pivot of $242.64 and also its 20EMA * If you want you can place an order around the $242.64 area as well as it may retest it as support since the volume is low on the daily chart. * Statistically, this stock may go 22.14% higher from here. Of course that won't be immediately but, looking at its history it could push higher using it's 20EMA as a dynamic level of support and get there.
NASDAQ:NDSNLong
by HaseebKhan_90
Is $PRCT ready to move higher from here?Notes: * Steady up trend in a bear market * Nice earnings for the past to quarters * Recent IPO * Looking to break above its IPO base * Printed a pocket pivot, indicating institutional buying * Offering an early entry relative to its 50 day line * Sitting just above a pivotal level of 43.9 and holding it as support for the past several sessions * IPO base resistance comes in around 47.7 Technicals: Sector: Healthcare - Medical Devices Relative Strength vs. Sector: 15.62 Relative Strength vs. SP500: 4.68 U/D Ratio: 1.1 Base Depth: 182.59% Distance from breakout buy point: -4.82% Volume 54.55% above its 15 day avg. Trade Idea: * You can enter now as the volume and price are indicating of it moving higher from here. * If you want to be a bit more safe, you can wait till after earnings
NASDAQ:PRCTLong
by HaseebKhan_90
Can $MNTK continue to lead the Utilities sector?Notes: * Recent IPO with steady up trend * Not the best earnings in the recent quarters * Basing for the past ~3 months * While basing it bounced off of its IPO highs around the 13.8 area * Recently breaking and holding above a pivot area between 16.65 and 16.9 * Daily and weekly volume seems to be indicating buyers coming in and the UD ratio seems to be indicating the same Technicals: Sector: Utilities - Utilities - Diversified Relative Strength vs. Sector: 10.61 Relative Strength vs. SP500: 35.4 U/D Ratio: 0.96 Base Depth: 46.96% Distance from breakout buy point: -15.4% Volume 31.76% above its 15 day avg. Trade Idea: * You can enter now as the price is holding the 16.9 area as support * If you're looking for a better entry you can wait to see if it retests the 16.9 area again.
NASDAQ:MNTKLong
by HaseebKhan_90
Can $ADM hold support and move higher from here?Notes: * Very strong up trend on all time frames * Good earnings in the recent quarters * Basing for the past ~6 months * Coming up on the right side of its base * Recently broke back above a key level around ~$87.2 and has been holding this level as support with higher than average volume * Printed an inside day with higher than average volume * Bouncing off of its 20EMA Technicals: Sector: Consumer Defensive - Farm Products Relative Strength vs. Sector: 2.78 Relative Strength vs. SP500: 1.55 U/D Ratio: 1.81 Base Depth: 37.27% Distance from breakout buy point: -10.61% Volume 22.31% above its 15 day avg. Trade Idea: * You can enter now as the price is bouncing off of its 20EMA and a key support level around $87.2 * If you want a better entry you can look to enter around $87.2 or if it pulls back closer to the 20EMA * This stock usually has local tops when the price closes around 12.92% above its 50 EMA * Consider selling into strength if the price closes 12.72% to 13.12% (or higher) above its 50 EMA * The last closing price is 4.89% away from its 50 EMA
NYSE:ADMLong
by HaseebKhan_90
Is $ARCB ready to start coming up on the right side of its base?Notes: * Very strong up trend since March 2020 on all time frames * Great consistent earnings since 2020 * Basing for the past ~9 months now * Broke above and retested $86.7 which has acted as a pivotal area for bulls and bears * Consolidating just above $86.7 for the past ~4 weeks with decreasing volume * It was consolidating around the bottom of its base with decreasing volume as well; meaning sellers lost steam Technicals: Sector: Industrials - Trucking Relative Strength vs. Sector: 4.04 Relative Strength vs. SP500: 5.53 U/D Ratio: 1.32 Base Depth: 86.73% Distance from breakout buy point: -28.74% Volume 1.77% above its 15 day avg. Trade Idea: * You can enter this now as the price is close to its 50 day line and it's also close to the broken resistance of $86.7 * If you're looking for a better entry you can try catch one around $86.7 as that should hold as support moving forward * This stock usually has local tops when the price closes around 27.14% above its 50 EMA * Consider selling into strength if the price closes 26.94% to 27.34% (or higher) above its 50 EMA * The last closing price is 7.21% away from its 50 EMA
NASDAQ:ARCBLong
by HaseebKhan_90
$CAL is breaking out of a ~15 month long base. Can it go higher?Notes: * Strong up trend since March 2020 * Good earnings in the recent quarters * Basing for the past ~15 months * Broke out around the end of May but pulled back to its 200 day line * Currently breaking out of historical resistance of $29.85 with higher than average volume * Next historical resistance comes in around $31.38 Technicals: Sector: Consumer Cyclical - Footwear & Accessories Relative Strength vs. Sector: 1.8 Relative Strength vs. SP500: 5.0 U/D Ratio: 1.44 Base Depth: 67.62% Distance from breakout buy point: 1.31% Volume 11.71% above its 15 day avg . Trade Idea: * You can enter now as the price is just breaking out of its base and historical resistance with higher than average volume * If you're looking for a better entry you can look for one around the $29.85 area as that should hold as support moving forward * This stock usually has local tops when the price closes around 21.29% above its 50 EMA * Consider selling into strength if the price closes 21.09% to 21.49% (or higher) above its 50 EMA * The last closing price is 11.01% away from its 50 EMA
NYSE:CALLong
by HaseebKhan_90
$EQNR is breaking out of its base with a Pocket Pivot!Notes: * Very strong up trend on all time frames * Good earnings in the recent quarters * Created a double bottom base for ~5 months and is now breaking out with higher than average volume * Not much else to say... it's a great looking chart ;) Technicals: Sector: Energy - Oil & Gas Integrated Relative Strength vs. Sector: 6.09 Relative Strength vs. SP500: 1.64 U/D Ratio: 1.17 Base Depth: 22.23% Distance from breakout buy point: 0.44% Volume 31.67% above its 15 day avg. Trade Idea: * You can get in now (at $38.44) as the price is just breaking out * If you want a better entry you can look for one around the 37.7 area if it comes back down * Right now it does seem to be gaping up so I wouldn't chase the price... Lets see how it behaves after the gap up and offers another entry * This stock usually has local tops when the price closes around 15.28% above its 50 EMA * Consider selling into strength if the price closes 15.08% to 15.48% (or higher) above its 50 EMA * The last closing price is 7.64% away from its 50 EMA
NYSE:EQNRLong
by HaseebKhan_90