LUNA - what happened?Good morning Traders
2 months ago I published a chart of LUNA calling it the 'outlier'. Well, LUNA is still the outlier here, but not for the same reasons, as it just lost nearly 97% of it's value in a few short days.
This kind of sell-off does not bear well for the future of the asset, but it is a good reminder for not marrying your trades - further in crypto.
A trader should trade and change their bias depending on market conditions or new information and never should go to the grave holding to a set-in-stone idea.
Selloff
Review as US shares meltdown dragging crypto, Oil and Gold lowerReview of the key levels in the major markets as the US continues to melt down dragging others along with it. USD remains high while Oil, Gold and Cryptos take a beating. We may be seeing a major unwind of margin as traders get themselves in trouble and are forced to reduce risk.
Key theme is around the USD and whether it continues higher above 104 (USD Index) or we seems some dollar weakness.
Markets covered
US - DOW, Nasdaq and SP500
Europe - DAX and FTSE100
Asia - Hang Seng, ASX200 and Nikkei
FX - Dollar Index (USD), EURUSD , GBPUSD , AUDUSD and USDJPY
Commodities - GOLD , Oil and Copper
Crypto - Bitcoin and Ethereum
KLAY short Price Targets and Stop LossKLAY/USDT short
Entry Range: $0.60 - 0.75
Take Profit 1: $66
Take Profit 2: $0.55
Take Profit 3: $0.49
Stop Loss: $0.87
LYFT Disappointing OutlookLYFT predicted Q2 revenue of $950 million to $1 billion vs $1.02 billion expected
adjusted Ebitda of $10-20 million vs $83 million analysts expectations.
With this type of slow growth for a $10.7Bil company, my buy area is between $15 and $20.
Looking forward to read your opinion about it.
Novartis AG (NOVN.vx) bearish scenario:The technical figure Triangle can be found in the Swiss company Novartis International AG (NOVN.vx) at daily chart. Novartis International AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland. It is one of the largest pharmaceutical companies in the world. Novartis manufactures the drugs clozapine (Clozaril), diclofenac (Voltaren; sold to GlaxoSmithKline in 2015 deal), carbamazepine (Tegretol), valsartan (Diovan), imatinib mesylate (Gleevec/Glivec), cyclosporine (Neoral/Sandimmune), letrozole (Femara), methylphenidate (Ritalin; production ceased 2020), terbinafine (Lamisil), deferasirox (Exjade), and others. The Triangle has broken through the support line on 03/05/2022, if the price holds below this level you can have a possible bearish price movement with a forecast for the next 12 days towards 80.160 CHF. Your stop loss order according to experts should be placed at 87.480 CHF if you decide to enter this position.
Novartis said earnings and sales rose in the first quarter of the year, boosted by its key drugs, including heart failure treatment Entresto. Net income was $2.2 billion, up from $1.8 billion in the same quarter the previous year, on sales that grew to $12.53 billion from $12.41 billion. Analysts expected sales of $12.62 billion.
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US30 Dow Jones Crash on MondayNice expanding cone to the downside.
Will likely crash through the week into the FOMC meeting.
SNAP Earnings Today ! $26.50 Strike Price Puts loading On 2022-02-14, SNAP largest shareholder, PRICE T ROWE ASSOCIATES INC, reported the selling of 17,607,412 shares.
MORGAN STANLEY also sold 4,061,262 shares and BlackRock Inc. 519,482.
I am thinking to buy the 26.50 strike price puts expiring April 29 for $1.61 premium.
Looking forward to read your opinion about it.
SSTK earnings in 5 days | $65 Strike Price PutsIf you haven`t sold the $96 right shoulder bearish chart pattern:
then allow me to tell you about my experience with Shutterstock, Inc. (SSTK) as a contributor:
I am a contributor on Shutterstock from the time they were publicly listed and in the last years they changed the tiers in order to keep more for themselves and give less and less to the contributors. The earnings for contributors are now at the 2015-2016 low, people that i know are not interested to post on Shutterstock anymore.
The picture sales are decreasing massively for contributors and i think that will reflect in the April 26 earnings call.
I will buy some $65 May 20 puts, now at $0.60.
Other rival companies like Pond5 and Adobe Stock gained momentum and are starting to sell equal or better than Shutterstock recently. A lot of contributors that i know moved to those platforms.
My opinion is that the stock will drop to the $66 level and do a dead cat bounce before going to $43, which is a realistic target considering the contributors conditions right now.
Was the SHOP sell-off predictable?Of course it was! It reached both of my price targets:
And now i think it will go even lower.
My experience as a seller on 2 Shopify stores was terrible in the past 4 months. I had a decrease in sales of more than 60%. My friends with on-line store had the same experience. So if the merchants don`t make money, neither do Shopify.
It`s hard to believe they will come up with a good quarter.
My buy area is lower than $400.
Looking forward to read your opinion about it.
Was the NFLX sell-off predictable???Of course it was! You could have sold the head and shoulders bearish chart pattern back in November, before Jim Cramer said NFLX is a buy! :)
My forecast is that NFLX will make a small bounce before going even lower, at a buy area of $175 - 190.
Looking forward to read your opinion about it.
BABA the Daily Journal sold 50% of its stake in itIf you haven`t sold on growth concerns:
Then you should know that after averaging down multiple times, Daily Journal Corp, where investor Charlie Munger served as chairman until very recently, cut its stake by roughly 50%.
My expectation is to see a double bottom in BABA this year.
BBBY downgraded to $10 I think BBBY earnings are going to be very, very terrible, said Loop Capital`s analyst.
Loop Capital maintains a price target of $10 and a rating of Sell for BBBY stock.
Looking forward to read your opinion about it.
When Relief Rally Coincided with Quad WitchingYM1!
The US equity market selloff in Q1 was pretty fierce due to a confluence of reasons. Even the large-cap stocks have entered Oversold territory, as suggested by the RSI on the E-mini Dow future. Since the middle of March, the equity market experienced a typical round of relief rally, coinciding with the Quad Witching, when a large amount of derivatives expiration, order flow, and rebalancing happened.
Now the Dow is far away from the Oversold level, and the previous support has become overhead resistance. The decline will likely resume as the Fed is determined to tighten financial conditions to fight inflation.
Entry at 34400, stop above 35450. Targets are 32500 and 30000.
Disclaimer:
The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
DWAC Donald Trump vs Elon MuskAfter it took some of the market capitalizations of both Twitter and Facebook:
now Trump media is facing a real opponent: Elon Musk. one of the most admired men in the planet.
Musk transformed TSLA into a cult, the first meme stock, before meme stocks were cool.
And it looks like the only one who can save Twitter too. In which he bought a 9.2% stake, worth $3Bil.
In this situation, considering also Trump`s appreciation for Putin and that the US should leave NATO, i think its SPAC won`t get too much sympathy in the near future.
In fact, i even expect a retracement to the 23.50 support.
and you know that i am not bias when it comes to the stock market. i was the first calling the 150 price target for DWAC (it reached $175):
Looking forward to read your opinion about it.
TTD bearish chart patternI can see lower highs and lower lows forming in a falling wedge.
PE Ratio (TTM) is also high: 266.88
My price target for The Trade Desk, Inc. (TTD) is 52.20.
Looking forward to read your opinion about it.
Elrond EGLD Price Targets and Stop LossEGLD/USDT short
Entry Range: $190 - 203
Price Target 1: $166
Price Target 2: $145
Price Target 3: $125
Stop Loss: $215
Is this the end of the bull market?Hello to everyone, I know these are difficult days for some of you – Bitcoin and many Altcoins are in the edge of a free fall – and you are confused what will happen. Was that a bull trap? Is this the end of the bull market?
Last days Ukraine – Russia tensions are boosted by media over and over again. News like energy crisis, financial crisis, even an imminent World War 3 are reproduced all over the world and cause panic and uncertainty to most people.
Whales control the Media and manipulate the crowd caused fear or greed. Then whales take advantage of situations and buy or sell respectively.
Crisis Brings Opportunity.
Uninformed investors give them their coins at the lowest prices.
Politics is a very complicated game. Do not bet your hard-earned money on bad news or FOMO. Keep calm and let the market shows you what will happen.
Let’s take a look at the charts. Bitcoin is trading in sideways for over a year.
The crucial support level for a bearish reversal confirmation is at $28.8k.
A decisive breakdown and close below that -in HTF 1M-, will signal the end of the primary trend (bull market) and the start bear market.
At the time of writing this report, BTC is traded at $40.4k. Earlier today $39.6k support violated. If this level break, price may reach $35 – 33K very quick.
Why? Because below $39.6k there are many stop loss order, novice traders will be panicked and some of them will short sell to cover their losses.
We are still above the: short term bullish trendline
Crucial support $39.6k
Medium term bearish trendline
The white rectangles on the chart are the most crucial support/demand areas for Bitcoin.
If you’re bullish on Bitcoin place your limit buys near there. There is no guarantee that it will hit $35k or $29k again – before the primary bear market.
Risk management – Stay to your plan – Control your emotions. The most important of all.
If you can’t manage this situation, take some days off with family and friends. Do not overtrade.
If you like my report, like, follow me here & on Twitter.
MILE bouncing from all time lowRemember the pay-per-mile auto insurance company Metromile and how it went up after the SPAC merger, to 20usd?
This month MILE had the all time low, $0.85. What a drop!
But for few days it showed a little bit of strength and in a best case scenario it can touch the $3.10 resistance.
Looking forward to read your opinion about it.
OKTA Falling Wedge PatternIf you haven`t sold earlier:
Then you should know that OKTA is heading to the $132 support.
It should bounce from that strong support.
NXPI exposure to ChinaThe U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
38% of NXP Semiconductors revenue comes from China.
My price target from NXPI is $134.
Looking forward to read your opinion about this.
TXN exposure to ChinaThe U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
54% of TXN Texas Instruments revenue comes from China.
My price target from TXN is $134.
Looking forward to read your opinion about this.
BITCOIN BTC-USD DEATHCROSS SIGNALS BEARS HAVE WON!Major sell off of bitcoin STILL LOOMING..I have also seen multiple death crosses on many other benchmarks. The feds and algorithms on our manipulated and rigged markets is trying really hard to rally and prop of all markets not just cryptocurrencies. These rallies will not hold in my opinion. The BEARS HAVE WON and i am seeing confirmed signals of a permanent bearish reversal that is leading to a possible recession globally. All other major worldwide benchmarks are being affected and suffering equally as well.
BITCOIN ACTS MORE LIKE A BENCHMARK THAN A HEDGE. IT SEEMS TO FOLLOW THE SIMILIAR BEHAVIOR IM READING ON OTHER BENCHMARK CHARTS. IT IS NOT A HEDGE ANYMORE AND MORE THAN LIKELY NEVER REALLY WAS. WE HAVE THE TULIP MANIA ALL OVER AGAIN. IT ACTS LIKE THE DOW, NASDAQ OR S&P.
Just my theoretical analysis of what i see. Take it with a grain of salt.
Thank You,
Cryptobuzzanalyst
Disclaimer
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this TA,(Technical Analysis) is for informational purposes only and do not constitute financial, investment, trading, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using or reading this technical analysis or site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this analysis.
TSLA Idea Short Overall looking at bearish sentiment on Tesla (TSLA) down to projection of the 725.05 area. With war, inflation, and the aftermath of the pandemic, a lot of stocks have started a sell-off. We could see a possible small retracement bullish however the overall sentiment is bearish. It lines up with a strong demand level, price action, and Fibonacci TP projections.
