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Squeeze

LTC/USD Potential BB Head FakeLTC/USD was getting Bollinger Band squeezed by the consolidation of price between the .5 Fib retracement area and the .236 retracement area following the sharp drop in markets in mid May. Now we see that the price has tried to break downward out of the squeeze, implying what seems to be a bearish bias only to bounce up off the .236 area and enter back into the Bands. We could be witnessing a head fake, one of John Bollinger's favorite indicators with the Bands, leading to a sharp upwards movement. Firstly, we need to be sure the 200 SMA (purple line) isn't now being flipped from support to resistance, potentially rejecting price around $145 indicating we should head further down. If it does turn to resistance and adds conviction to the bearish bias, that's a big indication that it would be most advantageous to stay away from long positions. We will see within a week or two if this head fake does in fact play out and we get a nice walk up the bands with targets at: $174.81 (.382 Fib line, middle of range) and $221.85 (.5 Fib line, top of range) Another thing to keep in mind is that we could just keep squeezing for months after this head fake occurs before making any truly definitive movements. It will be fun to watch one way or another.
COINBASE:LTCUSD
by Hrempe
$NOVN swing-trade*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* My team has been paying close attention to the price action of biotech company $NOVN these past few days after it experienced an 80 percent increase last Friday. Despite its amazing performance $NOVN failed to break strong resistance at $20 per share and experienced a drastic drop down to $10.76. $NOVN now rests at support at $11 per share. My team expects $NOVN to perform well short-term due to this overly excessive sell-off. We have entered today at $11 per share and have set our first take profit at $15 indicating a 36 percent increase from current levels. Entry: $11 First take profit: $15 2nd take profit: $18 Stop loss: $10 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NLong
by SimplyShowMeTheMoney
$AMD June Update *This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Recap: Steadily increasing semiconductor demand due to current shortage will leave $AMD with fat profits during the next few market quarters. After correcting from its all time high of $99.23 $AMD now sits at $81.64 per share. My team entered into $AMD on 6/10/21 at $81.10 per share. We have adjusted our first take profit which previously was $90 to $92. Our stop loss remains at $76. We're averaging up today at $81.64 per share. ORIGINAL ENTRY: $81.10 AVERAGING UP AT: $81.64 FIRST TAKE PROFIT: $92.00 2ND TAKE PROFIT: $111.00 STOP LOSS: $76.00 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:AMDLong
by SimplyShowMeTheMoney
1
$SPY Update, Selling Continues SPY was rejected at a key level that would have indicated a short term reversal near the 422.85 level. I expect this to retest 419 being the next support level which we touched yesterday. Using the GANN Fan as potential paths of resistace, we can see how it following the downtrend accordingly. This is shorter term view on SPY, if you're looking for longer term time frame, refer to my previous SPY posts. In conclusion, I expect the selling to continue after the FOMC meeting yesterday, as investors, the bond market, and institutions price in potential rate hikes next year, inflation, and speculation of tapering continues. VIX seems primed for a move, and a healthy correction is nothing that we shouldnt be prepared for.
AMEX:SPYShort
by chartxzy
make your $WISH*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* My team discovered $WISH a couple days ago. We first heard of WISH when a friend made a joke about how cheap $WISH products were. The name sounded familiar but we had zero clue that it was an online retailer until he explained it to us. Perhaps we didn't know because we live under a rock, or maybe we're too busy making money instead of spending it by shopping online. Regardless, we still see the appeal of $WISH, and we wonder just how much of its market still remains untapped. If none of us knew what $WISH was prior to a couple days ago then maybe...just maybe...this is just only the start of its rally. $WISH is also a meme stock apparently. My team has never traded meme stocks prior to this post, but that doesn't mean that we're opposed against them. Our issues with most meme stocks dwell in the overvaluation of the stock...but we suppose that's the whole point. $WISH is a rare case however because it ACTUALLY looks undervalued to us. We're long. entry: $11.30. take profit: $18 stop loss: $9.50 If you want to see more, please like and follow us @SimplyShowMeTheMoney
WLong
by SimplyShowMeTheMoney
2
$TUP Inflation Play *This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* My team entered into $TUP on 6/7/21 at $25.34 per share. $TUP now sits at $25.93 after correcting from its previous 52-week high of $38.79. We plan to take profit at $33.00. My team considers $TUP to be trading at a bargain price. With further inflation data being released on 6/10/21 $TUP becomes a fairly safe bet for a short-term rally. If you want to see more, please like and follow us @SimplyShowMeTheMoney
TLong
by SimplyShowMeTheMoney
$SPY Tread Lightly, How to Hedge AccordinglyA weekly Long term SPY chart can tell a lot, would not at all consider myself a "bear" but I do think that people should be aware of not only this chart but a lot of the current factors and economic situations we are in right now, from chip shortages, lumber prices, to inflation, the reasons to hedge accordingly against a correction continue to show everyday. Patterns like to present themselves in strange ways. We can look at SPY ATH from 2018, to its low in December 2018 and show retracement levels respectively. From the lows, we saw a 161% retracement from ATL's and then a correction. Considering where we are now, from ATH's in early 2020, to the lows of March 2020, Spy has retraced yet again, 161%. Obviously the correction was not purely technical based, because of the pandemic, but I do see continuing reasons on why as a whole the market is "overvalued". A healthy correction IMO is imminent, timing it is the hard part, I think we can see a continued SPY run towards 430-435 range, but at that point I would monitor positions closely and have cash ready. Hedges for me makeup a small percentage of my portfolio, but i will continue to allocate profits from short term swing trades I make towards these hedges. Hedges can be as simple as inverse SPY ETF's, to commodities, to long term options positions. In my opinion, and for my investing strategy, the hedges I am using and will continue to add to these positions as we move higher are the following: $GLD Call Options 6M-1Y Expirations $UVXY $40 Call Options with various ranges of expiration dates, as early as July and late as December $IEF 7-10 Year Treasury Bond Yield ETF Call Options
AMEX:SPY
by chartxzy
2
$PLUG Important Price Level PLUG looking to make its next move that will be determined by the price action in the coming week, we have a very decent bullish setup with a nice trading range that gives solid risk rewards profile. As you can see we have multiple areas of support and resistance and are currently sitting on the $31 support level, a very important price to hold. More bullish sentiment is a bounce off its 200DMA that can carry this higher short and long term. In the next few trading days we can expect one of 2 things to happen. Holding 31$ and a push towards $35 again would indicate a long term downward channel breakout attempt. ADX supports the movement and breakout as well. Second thing that could happen is market isnt ready to take this higher yet, and we see another retest of $25 range to form a double or triple bottom for a breakout in the future. Watch closely.
NASDAQ:PLUGLong
by chartxzy
$SNAP Looking to Retest ATH As I updated a short while ago, snapchat did in fact break out of its trading range pushing near the $64 price level, and since then, had a healthy and expected pullback that found support on the top of the channel which is a bullish signal IMO. The price action in the next 2-3 trading days will determine if the market wants to take this higher back towards the $70 range which I believe will show strong momentum at the open tomorrow. I previously had a position in shares, but will instead be doing a multi-legged call position to maximize return. According to the price action in the morning tomorrow, positions I will most likely take are below. GLTA 6/25 $65 Calls 7/16 $65 Calls 7/16 $70 Calls Not financial advice.
NYSE:SNAPLong
by chartxzy
$AMC Bull Wave Incoming?AMC printing a descending triangle, which would be bearish if this pattern was within a downward trend, but this is a bullish formation since we have been making ATH's. My previous idea thought we were forming a bull flag with higher lows, but it was broken which I believe was due to the GME earnings sell off that affected all "meme stocks" as a whole. MACD Looking to make a bullish move, as well as ADX & DI looking for its next bullish expansion. watch for a breakout.
NYSE:AMCLong
by chartxzy
2
Rinse and Repeat ... at EVER HIGHER LEVELNote how this is an exact repeat of late-March. Seriously, E-X-A-C-T. Earnings => Price Collapse => Recovery. (Yes, doubters, recovery has already started.) Let's review the steps: Earnings How it went: March was okay (not good, not bad) news. How its going: This time the news was decidedly positive and promising - fundamentals improved, L/T debt retired, turnaround plan in place, board REplaced, RC established as King/Chair, outlook very positive. Price Collapse How it went: HFs chopped ~40% off price. How it's going: F-ers shaved ~35% off price. Just. Like. Last. Time. Recovery How it went: Have you not been paying attention Apes? How it's going (to go): Do you really think it's going to be different this time ... WHEN THEY STILL HAVEN'T COVERED? What is different between these two events? Apes start $100+ above (80% higher). Apes learn much in three months. Apes developed wrinkles. What's not different? It remains that ... Ape Together Strong.
NYSE:GMELong
by TranceaddicT66
6
$CHPT June Update*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* My team has been swing trading EV sector tyrant $chpt for the past couple months. In this time-span it has continued to bounce from its $20 support zone . The potential is undeniable for an established EV company like $chpt. There is also an impressive amount of option calls which suggests bullish confidence. We recognized the bullish price action of $CHPT and averaged up from our original entry of $22 at $24.35 on 5/30/21. From their the price moved further up and now rests at $28.31. My team has increased our previous take profit target of $31 up to $37.
NYSE:CHPTLong
by SimplyShowMeTheMoney
$CLF closing in on the finish line*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Recap: My teams original entry for CLF is at $13. We averaged up on 5/23/21 at $18.06 and now the stock currently sits at $22.57. Our first take profit remains at $24 (which should hit fairly soon). Once we reach TP1 (take profit 1) we will trim our positions and then close the trade at $27.00 TP2. Congrats to those who took this trade with us. If you want to see more, please like and follow us @SimplyShowMeTheMoney
NYSE:CLFLong
by SimplyShowMeTheMoney
2