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Resistancebroken

$STLD is pushing higher on the right side of its ~5 month base!Notes: * Very strong up trend on all time frames * Great earnings track record * Basing for the past ~5 months * Was rejected around the ~85.3 area and pulled back to its 20 day EMA * Now it's broken above that resistance level with high volume * Printed a pocket pivot indicating institutional demand * Seems to have also formed an inverse head and shoulders pattern * Showing lots of strength and accumulation Technicals: Sector: Basic Materials - Steel Relative Strength vs. Sector: 3.15 Relative Strength vs. SP500: 1.44 U/D Ratio: 1.75 Base Depth: 55.04% Distance from breakout buy point: -13.12% Volume 148.59% above its 15 day avg. Trade Idea: * You can enter now as the price is just breaking above resistance with volume * If you're looking for a better entry you may find one on the retest of ~85.3 * This stock usually has local tops when the price closes around 21.32% above its 50 EMA * Consider selling into strength if the price closes 21.12% to 21.52% (or higher) above its 50 EMA * The last closing price is 12.53% away from its 50 EMA
NASDAQ:STLDLong
by HaseebKhan_90
2
$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
Can SPX Push through a Wall of Resistance?Can SPX Continue to Push Through a Wall of Resistance? Like many other global indices and liquid assets, the S&P 500 (SPX) has had a powerful rally off June 17, 2022 lows. This rally coincided with the July 2022 FOMC meeting and presser—the rally increased in the days preceding the FOMC meeting and then continued in earnest afterwards. This post will not attempt to analyze the public debate over whether Fed Chair Jerome Powell's unscripted comments about the Federal Funds rate being at the "neutral rate" equate to a dovish shift. In any case, markets have seemingly interpreted (or perhaps misinterpreted) this statement as providing support for risk assets. The Fibonacci resistance discussed below also coincides with major chart resistance shown by the blue rectangle in the chart below. This area of strong resistance captures a number of highs and lows from the consolidation in early June 2022, the lows in March 2022, and the lows in February 2022. Chart Showing Price Resistance at Former Highs, Lows and and early June 2022 Consolidation Fibonacci Analysis SPX has rallied above 4137.50, which is the .50 retracement (R) of this bear market's most recent leg of decline, i.e., the decline from March 29 highs to June 17 lows. At first, SPX stalled at this .50 R for three consecutive days, with each day showing price piercing above this level and then immediately being rejected and closing back below it. But today, price closed above it. This level should continue to be watched as price may push through it and then fail back below again several days later. But SPX does not have an unfettered path back to all-time highs. Within the coming days, the Fibonacci cluster highlighted on the main chart above will be critical to watch. This cluster ranges from 4114.59 to 4255.13. Note the bullish slope of the 8-day and 21-day EMAs (labeled on the main chart above), which indicate continuing momentum that could allow for another push right up to this Fibonacci cluster area. Price could, however, fail yet again at current levels given that the key .50 R level was near the high of the current price bar's range. An additional Fibonacci level coincides with the Fibonacci cluster shown on the main chart above. This level is the 1.618 projection (or extension) of the shown in the chart below. The 1.618 Projection of First Leg of Rally from the July 14 Low Momentum Analysis Momentum appears to be in the beginning stages of waning and weakening. For momentum, consider the two charts below showing %B indicator (a derivative of Bollinger Bands) and the RSI indicator. %B Indicator (Daily Chart) Shows Relative Weakness with New High on August 3, 2022 RSI on Daily Chart Shows Divergence But note that the divergence on RSI could disappear if price presses up higher tomorrow, drawing the RSI to an even higher level that helps it make a new RSI high along with a new price high. This bears watching carefully. Finally, the early stages of weakening momentum does not necessarily mean that the rally is finished. It just means that stops on longs should be tightened. And for example, those with a bearish view may want to begin looking for sell triggers signaling a shorter-term trend reversal, but caution for bearish positions is warranted because whether this rally may extend for another month or two or whether the bear market will immediately resume remains unclear. SP:SPX OANDA:SPX500USD BLACKBULL:SPX500 VANTAGE:SP500 AMEX:SPY CME_MINI:ES1!
SP:SPX
by SquishTrade
$ZGN an IPO coming up on the right side of its base!Notes: * Coming up on the right side of its IPO base * Has been using its 50 day line as a dynamic level of support * Recently broke above an important resistance level around 11.22 with higher than average volume * Has been increasing steadily in price and volume * Printed a pocket pivot with squatting price action (not ideal) Technicals: Sector: Consumer Cyclical - Apparel Manufacturing Relative Strength vs. Sector: 1.04 Relative Strength vs. SP500: 2.37 U/D Ratio: 3.51 Base Depth: 39.96% Distance from breakout buy point: -9.73% Volume 117.75% above its 15 day avg. Trade Idea: * I particularly don't like the squatting price action at the moment so I personally wouldn't enter now. * If the price holds above 11.22 and stops squatting I may consider entering * If you want to enter now you can as the price is just above the broken resistance level of 11.22 * If you're looking for a better entry you may just want to wait and see how the price behaves around this level * I'll post about this again if it makes better progress.
NYSE:ZGNLong
by HaseebKhan_90
2
Is $GIS ready to move higher?Notes: * Very strong up trend on all time frames * Great earnings track record * Breaking out of a base on base pattern of about 4 months * Has been testing broken resistance of 76.57 as support for the past several sessions Technicals: Sector: Consumer Defensive - Packaged Foods Relative Strength vs. Sector: 7.77 Relative Strength vs. SP500: 1.08 U/D Ratio: 1.33 Base Depth: 16.62% Distance from breakout buy point: 1.14% Volume 61.4% above its 15 day avg. Trade Idea: * You can enter now as the price is still close to the broken level * If you want a better entry you can look for one around the 76.57 area as that should continue to serve as support should $GIS continue to range
NYSE:GISLong
by HaseebKhan_90
ZECUSDT is testing the weekly resistance The price is in the consolidation phase between the monthly and weekly resistance On the 4h timeframe the price had a breakout and retest the previous resistance as new support. how to approach it? IF the price is going to have a breakout from the weekly resistance and retest as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
$FTNT taking off from its launch pad!Notes: * Strong up trend on all time frames * Great earnings track record * Basing for the pas ~9 months * Moving higher from its launch pad with higher than average volume and another quarter of better than expected earnings * It's also breaking out of an ascending triangle Technicals: Sector: Technology - Software - Infrastructure Relative Strength vs. Sector: 5.72 Relative Strength vs. SP500: 54.15 U/D Ratio: 1.53 Base Depth: 51.61% Distance from breakout buy point: -15.43% Volume 24.53% above its 15 day avg. Trade Idea: * You can enter now as the price is moving higher from its launch pad with higher than average volume and on better than expected earnings * If you're looking for a better entry you may be able to get one around the 61.9 area * This stock usually has local tops when the price closes around 15.74% above its 50 EMA * Consider selling into strength if the price closes 15.54% to 15.94% (or higher) above its 50 EMA * The last closing price is 6.2% away from its 50 EMA
NASDAQ:FTNTLong
by HaseebKhan_90
Is $ATEN ready to come up on the right side of its base?Notes: * Strong up trend since 2020 * Great earnings track record * Basing for the past ~9 months * Just broke back above IPO highs of $14.9 on the monthly time frame and retested it as support * Recently came above its 200 day line and now coming above its 50 day * Showing strength and accumulation * Printed a pocket pivot in the last session indicating institutional demand Technicals: Sector: Technology - Software - Infrastructure Relative Strength vs. Sector: 23.55 Relative Strength vs. SP500: 4.61 U/D Ratio: 1.59 Base Depth: 50.68% Distance from breakout buy point: -18.94% Volume 5.58% above its 15 day avg. Trade Idea: * This is offering a low risk entry so you can enter now as the price is still close to its 50 day line and just retested $14.9 (Historical highs) as support * If you're looking for a better entry you may be able to find one around the $14.9 area as that should hold as support moving forward * This stock usually has local tops when the price closes around 17.84% above its 50 EMA * Consider selling into strength if the price closes 17.64% to 18.04% (or higher) above its 50 EMA * The last closing price is 6.26% away from its 50 EMA
NYSE:ATENLong
by HaseebKhan_90
3
$FPI is coming up on the right side of its base!Notes: * Strong up trend * Not the best earnings record but the last report was really good * Creating a base within a base * Recently broke above historical highs of 14.42 * Increasing volume since the last earnings report * Recently bounced off of the 50 day line with bullish price action and volume Technicals: Sector: Real Estate - REIT - Specialty Relative Strength vs. Sector: 1.23 Relative Strength vs. SP500: 2.49 U/D Ratio: 1.25 Base Depth: 22.36% Distance from breakout buy point: -9.29% Volume 57.34% above its 15 day avg. Trade Idea: * You can enter now as the price is just coming off of the 50 day line with increasing volume * If you're looking for a better entry you can look for one around the 14.42 area as that should serve as support moving forward * This stock usually has local tops when the price closes around 18.47% above its 50 EMA * Consider selling into strength if the price closes 18.27% to 18.67% (or higher) above its 50 EMA * The last closing price is 4.8% away from its 50 EMA
NYSE:FPILong
by HaseebKhan_90
$CI is breaking out of a ~14 month cup with handle pattern!Notes: * Very strong up trend on all time frames * Great earnings track record * Breaking out of a ~14 month cup with handle pattern * It did break out before but then pulled back (seems like a shakeout) * Now it's been in a tight range just above the broken resistance creating new support * The last session printed a pocket pivot indicating institutional buying Technicals: Sector: Healthcare - Healthcare Plans Relative Strength vs. Sector: 5.55 Relative Strength vs. SP500: 28.95 U/D Ratio: 1.77 Base Depth: 43.95% Distance from breakout buy point: 1.09% Volume -5.44% below its 15 day avg. Trade Idea: * You can enter now as the price is just above the broken resistance with the last session being a pocket pivot * If you want a better entry you can look for one around the 270.1 area * This stock usually has local tops when the price closes around 9.18% above its 50 EMA * Consider selling into strength if the price closes 8.98% to 9.38% (or higher) above its 50 EMA * The last closing price is 3.9% away from its 50 EMA
NYSE:CILong
by HaseebKhan_90
Is $PAG recovering from its pull back?Notes: * Strong up trend on all time frames * Great earnings track record * Pays out dividends * Coming up on the right side of its base * Basing for the past ~9 months and creating a base within a base * Just breaking above the ~112 (historical resistance weekly chart) area with higher than average volume and bullish price action * In the Automotive industry which is pretty hot right now * Using the 50 day line as a dynamic level of support for the past several sessions and now bouncing off with higher than average volume Technicals: Sector: Consumer Cyclical - Auto & Truck Dealerships Relative Strength vs. Sector: 2.12 Relative Strength vs. SP500: 2.92 U/D Ratio: 1.02 Base Depth: 20.61% Distance from breakout buy point: -8.45% Volume 38.61% above its 15 day avg. Trade Idea: * You can enter now as the price is just bouncing off of its 50 day line with higher than average volume * If you're looking for a better entry you can look for one around the ~110.5 area * This stock usually has local tops when the price closes around 12.3% above its 50 EMA * Consider selling into strength if the price closes 12.1% to 12.5% (or higher) above its 50 EMA * The last closing price is 5.63% away from its 50 EMA
NYSE:PAGLong
by HaseebKhan_90
3
Is $MUSA ready for another run?Notes: I last mentioned $MUSA on July 7th, 2022 and since then it has run up more than 12% hitting our target. Since hitting our target $MUSA has been in an orderly pull back to the broken resistance of $262.58 and testing that as support. * Ideally, this should now hold above $262.58 in order to stay constructive. A daily close, or two, would signal weakness. Now that earnings are out better than expected we may be able to expect another run up. Everything else remains the same as my previous post. Technicals: Sector: Consumer Cyclical - Specialty Retail Relative Strength vs. Sector: 2.36 Relative Strength vs. SP500: 3.75 U/D Ratio: 1.27 Base Depth: 19.38% Distance from breakout buy point: 1.66% Volume 19.89% above its 15 day avg. Trade Idea: * You can enter now since the earnings are out of the way and it's bouncing off of support with higher than average volume. * It may also consolidate for the remainder of this week so if you want a better entry you can look for one around the $262.58 level * This stock usually has local tops when the price closes around 14.62% above its 50 EMA * Consider selling into strength if the price closes 14.42% to 14.82% (or higher) above its 50 EMA * The last closing price is 7.35% away from its 50 EMA
NYSE:MUSALong
by HaseebKhan_90
ADAUSDT is testing the resistanceThe price is testing the dynamic 4h support above the daily resistance at 0.48%. The market is going to try to complete the W pattern below the daily resistance at 0.54$ where the price needs to grab more liquidity to create a new breakout from the historical resistance how to approach it? IF the price is going to have a breakout from the neckline and retest it as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
COFORGE , starting UPTREND after retesting hey guys , COFORGE stock is showing signs of UPTREND, this stock was moving in a fixed downtrend , 2-3 weeks before this stock has crossed it's RESISTANCE and broke the DOWNTREND AREA . After breaking that area , the stock has retested But instead of going into a straight uptrend , this stock started to follow a pattern called TRIANGLE PATTERN and now this stock has CROSSED the RESISTANCE of that TRIANGLE PATTERN , and a big green candle is presented by this stock . therefore guys , i suggest you that try to grap this stock and earn high returns . ( but it is not sure that you will achieve your target if stop loss is hit , pls cut ur position) i have marked the RR RATIO , TARGET AND STOP LOSS BUT FIRST CONSIDER THE GLOBAL MARKET SITUATIONS 1. INFLATION 2. WAR 3. RISING BANK RATES AFTER CONSIDERING THESE SITUATIONS, YOU CAN BUY THIS STOCK 😀😀
NSE:COFORGELong
by TRADERS_AREA
$VRTX showing multiple signs of continuation!Notes: * Very strong up trend on all time frames * Great earnings track record since 2017 * Breaking out of a ~4 month base with higher than average volume * Printed a pocket pivot * And offering an early entry relative to its 50 day line * Breaking above a historical resistance of $290.48 with volume once again (Third time's the lucky charm? ;)) * Formed a relatively flat handle to the double bottom * Offering a low risk entry Technicals: Sector: Healthcare - Biotechnology Relative Strength vs. Sector: 1.32 Relative Strength vs. SP500: 1.16 U/D Ratio: 1.97 Base Depth: 24.6% Distance from breakout buy point: 0.03% Volume 8.7% above its 15 day avg. Trade Idea: * You can enter now as it's just breaking out of its double bottom base with higher than average volume and it printed a pocket pivot * If you're looking for a better entry you can look for one around the 290.5 area as that should hold as support * One thing to keep in mind is that there are two more historical areas of resistance that will come in the way before we hit the target * Look for confirming price action around those levels before adding to the position * Or, if we see lots of rejection around those levels, consider exiting the position earlier * This stock usually has local tops when the price closes around 11.93% above its 50 EMA * Consider selling into strength if the price closes 11.73% to 12.13% (or higher) above its 50 EMA * The last closing price is 6.9% away from its 50 EMA
NASDAQ:VRTXLong
by HaseebKhan_90
$CSL continuing to move higher!Notes: * I last spoke about this a couple of days ago as it was bouncing off of its 50 day line * Since then it has gaped up and is now breaking above the resistance level of $254.44 * It's still offering an early entry as it's still close to its 50 day line and trading above average volume * Everything else remains the same from my previous post. Technicals: Sector: Industrials - Building Products & Equipment Relative Strength vs. Sector: 1.39 Relative Strength vs. SP500: 1.43 U/D Ratio: 2.03 Base Depth: 17.07% Distance from breakout buy point: -5.86% Volume 3.18% above its 15 day avg. Trade Idea: * This is still giving a pretty low risk entry opportunity so you may look to enter now as it's breaking above the 254.44 level
NYSE:CSLLong
by HaseebKhan_90
$CNC ready to break out of its ~5 month basse?Notes: * Very strong up trend on all time frames * Great earnings track record * Building a base on base pattern * Held up very well against the general market and its sector * Recently bounced from its 50 day line * Printed a pocket pivot with higher than average volume * Saw a lot of demand around the 50 day line a few days ago with a strong bullish hammer Technicals: Sector: Healthcare - Healthcare Plans Relative Strength vs. Sector: 1.15 Relative Strength vs. SP500: 1.1 U/D Ratio: 1.22 Base Depth: 18.61% Distance from breakout buy point: -1.98% Volume 39.0% above its 15 day avg. Trade Idea: * You can enter now as the price is still close to the 50 day line and just printed a pocket pivot * If you want a better entry you can look for one around 86.8 as that should hold as support moving forward * This stock usually has local tops when the price closes around 11.18% above its 50 EMA * Consider selling into strength if the price closes 10.98% to 11.38% (or higher) above its 50 EMA * The last closing price is 6.04% away from its 50 EMA
NYSE:CNCLong
by HaseebKhan_90