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XRP Ripple - Success or Disaster?Historically XRP has acted as a hedge against BTC. But in more recent times, Ripples movement has left us hesitant. In this chart we can see XRP at support in this 4H channel. A move up could indicate a push to test the 4000 Satoshi range. And a break down of support can send us down another leg to the mid 2500 Sats range. We must wait for continuation up for us to enter, or we may enter and use SL at a breach of support here shown in this chart. I stand neutral until confirmation.
by ProTrades1Crypto
MSFT: Bear Market Risk Increases on Chinese Manufacturing NewsMicrosoft has been under heavy distribution and has begun a risk of top formation. The markets opened with a downside gap this morning due to Chinese markets imploding. This is a high risk factor for a potential bear market catalyst. Any US company that has a high revenue source from China is at risk of serious downside runs during such a crisis and for as long as the Trade Wars between these two nations continue. Sell Shorters will use this gap at open as a level to buy to cover for profits. IF the retail crowd does panic quickly, then it will be a rout. For now MSFT is at risk of breaking to the downside. The Top formation is a Rounding Top, which is harder for most technical traders to recognize before completion. The support is strong between $86 – 98, which was a trading range from earlier this year. The stronger volume on down weeks and declining Accumulation/Distribution indicator show heavy large-lot selling over the past couple of months. The stock’s bounce risk levels are black lines on this weekly chart.
NASDAQ:MSFT
by MarthaStokesCMT-TechniTrader
NKE: Earnings Out of Season, Topping with Strong SupportNike, the icon of footwear, reports today out of season which is not a good sign for earnings. The stock is not being traded heavily pre market, however, so the retail crowd appears to not know about this earnings report yet. The stock has already hit an extreme deviated peak in its business cycle after a fast-paced speculative run out of its prior bottom formed in 2016-2017. This stock is more fortunate than others. It has strong support close to its current price. The Cycle indicator has headed down to the center line and the stock should trough sooner than later. This is a weekly chart so you can see the support level easily. This stock is not a good candidate for a sell short due to this support.
NYSE:NKE
by MarthaStokesCMT-TechniTrader
AAPL: Sell Short Support levels for Bounces and ReboundsThis AAPL weekly chart shows all the support levels back down to where 2019 projected revenues will be in line with the previous Dark Pool Buy Zones of 2016. The 2016 support price range is strong, fundamental support for the stock. As you can see, AAPL doesn’t have precise technical support levels. Even on the weekly chart, the stock price does not stop falling cleanly at the highs or lows of each support range. This is because this stock is a favorite of RETAIL trading systems, Retail Gurus, Retail recommended stocks, etc. The inconsistent price action suggests that retail investors and traders are mostly day trading AAPL. If the large-lot professionals dominated the trading activity, each support level would cause a consolidation, bounce or rebound and there would not be so many wicks and tails in the candlestick patterns. AAPL's technical patterns convey that swing-style selling short the stock is likely to be rather difficult.
NASDAQ:AAPL
by MarthaStokesCMT-TechniTrader
COST: Sell Short Potential but Strong Support at 200The Daily Chart of COSTCO Stock shows that there is some sell short potential on the short-term trend IF the stock breaks to the downside below the low of around 216. At this time, it appears that is more likely given the lack of large lot buyers in the chart patterns. Support levels show the point gain potential moving down from the current range-bound pattern. However, COST is less likely to collapse all the way down to 50% from its all-time high. Why? Because it was never speculated to extreme highs, far from a strong support level. The furthest it can go before reaching strong support is around 200 for a bounce and 190 for serious support and risk of rebound price action.
NASDAQ:COST
by MarthaStokesCMT-TechniTrader
1
ISRG: Topping Formation Risk for Selling Short PotentialIntuitive Surgical Inc., under the Medical Instruments and Supplies industry, has had strong growth over the past 3 years but it is now facing the risk of a topping formation. The topping pattern is near the phase where a completed top could occur and then downside action would include sell short professionals and sell short HFTs. Support doesn’t kick in strongly until the stock reaches the 240-250 area, which is below the 50% loss of most companies thus far in the bear market. Many firms have already lost 50% or more off their all-time high values. ISRG can shift sideways and stay there to pattern out the excessive speculation, but the technical pattern is setting up more like a risk of a top formation at this moment in time.
NASDAQ:ISRG
by MarthaStokesCMT-TechniTrader
1
TGT, BBY Earnings: Retail Brick & Mortar Topping Patterns Target and Best Buy reported earnings today and their stock values fell, TGT worse than BBY. The retail brick and mortar stores are the last group to report each season. The ubiquitous AMZN has put most of this type of store at risk of total displacement as consumers prefer the ease and speed of online shopping over driving to a store. Technical patterns are even more important in a downtrend as the 3 primary market participant groups that sell short are technically oriented rather than fundamentalist or emotional buyers or sellers. Study both weekly and daily charts before you choose stocks to sell short, in order to calculate potential support bounce levels, and to anticipate how far a stock can drop. This is one of the newer topping formations that developed in the past few years as the market became fully automated for the Institutions.
NYSE:TGT
by MarthaStokesCMT-TechniTrader
FB, FAANG and Big Tech Stocks: Weakening TechnicalsFacebook, FAANG stocks and other big tech stocks too were bound to have a rough day with gaps down and runs down as NVDA reported lower than expected earnings after the close yesterday. NVDA had a massive gap down today. FB had a small gap down at open. Volume Oscillators reveal an increasingly weakening price trend when below the center line, indicating the sell side is dominant. The stock could easily break down and move down further.
NASDAQ:META
by MarthaStokesCMT-TechniTrader
NTAP: Earnings Stock of the Day NetApp was one of the earliest companies in Cloud Technology. It had a stellar rise in price in 2018 but is now at risk of a topping formation. Data Storage is still a growth sub industry of the Cloud Industry. However, NTAP has gone beyond its fundamental values for 2019. Support levels are on the chart. Bounces should be expected around these price levels. This is an incomplete top. The stock could move sideways in a trading range rather than down. To sell short, the stock must break to the downside from here.
NASDAQ:NTAP
by MarthaStokesCMT-TechniTrader