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#YESBANK breakout trade setup (18/07/2024)Greetings Folks, today I have prepared a setup of NSE:YESBANK on NSE the analysis is as follows- - the price has been consolidating in a triangle pattern for a while - its right now trading near the trendline support - wait for the proper breakout in either side, i am not biased towards a particular direction - i have chosen small targets regarding the upcoming pre budget volatility don't play with fire, always use a predefined stop loss
NSE:YESBANK
by profitpujari
Force Motors under the garb of descending triangle nowThis chart shows a technical analysis of the stock price for Force Motors. The pattern displayed is a descending triangle, which is typically considered a bearish pattern. Here are the key features and interpretations: Descending Triangle Pattern : # Resistance Line (White Line): This is the downward sloping trendline connecting the lower highs. It indicates that the stock has been consistently making lower highs, suggesting a downward trend. # Support Line (Green Line): This is the horizontal line connecting the lows, showing that the stock price has found a support level where buyers come in to prevent the price from falling further. Price Movement : The stock price is moving between these two lines, bouncing off the support and resistance levels. As the price continues to test the support level (green line) without breaking through, it signifies strong support at this price point. However, the descending resistance line indicates sellers are consistently pushing the price lower at each rally. Potential Breakout : If the price breaks below the support level (green line) with significant volume, it could indicate a bearish breakout, leading to a further decline in price. Conversely, if the price breaks above the descending resistance line (white line), it could suggest a bullish reversal, with the potential for an upward movement. Volume Analysis : Typically, volume plays a crucial role in confirming the breakout. An increase in volume on a breakout below the support line would confirm the bearish trend, while an increase in volume on a breakout above the resistance line would confirm a bullish trend. In summary, this chart suggests that Force Motors is currently in a descending triangle pattern, which is a bearish signal. Traders and investors should watch for a breakout from this pattern to determine the next potential move of the stock. Major levels to consider: Support - 7850 Stoploss - 7450 NOTE : Please consult your financial advisor before taking any trade/decision in Force Motors
NSE:FORCEMOTShort
by smartmarketview
MTR => Mesa Royal Trust => Potential long term investment opp.Stock and Timeframe: The chart is for "Mesa Royalty Trust (MTR)" on the 1-week (W) timeframe, which provides a long-term view of the stock's price movements. Current Price: The current price is shown as $8.20. Trend Lines: A downward yellow trend line is drawn, indicating a long-term downtrend. The price has broken above this trend line and seems to be retesting it as support. Support and Resistance Levels: Support Levels: Around $8.20 (current price). Around $7.75 (a lower support level if the current support fails). Resistance Levels: $19.87: This level is identified with a red horizontal line. $35.34: Another significant resistance level marked with a red horizontal line higher up. Price Targets and Potential Moves: There are two significant potential price targets indicated: First target: $19.87, with an expected gain of 156.26%. Second target: $35.34, with an expected gain of 375.39%. Annotations: The chart mentions "retest," indicating that the price is currently retesting the previously broken trend line. This is a critical point to watch, as a successful retest could signal a continuation of the upward move. Volume: The volume bar indicates a significant increase in trading volume, which is a positive sign for the bullish trend, confirming the price movement's strength. Summary: Bullish Signs: Break above the long-term downward trend line and retest. Strong volume supporting the price movement. Significant upside potential with targets at $19.87 and $35.34. Watch Points: Successful retest of the trend line is crucial. Failure could mean a return to lower support levels. Resistance levels at $19.87 and $35.34 will be critical to watch for potential profit-taking or further bullish moves. Strategy: For long-term investors, this setup presents a potential buying opportunity with considerable upside. For short-term traders, monitoring the retest and volume closely will be key to making informed decisions. By keeping an eye on these critical levels and market behaviors, traders can make more informed decisions about their positions in Mesa Royalty Trust (MTR).
NYSE:MTRLong
by alemicihan
Johnson & Johnson (JNJ) - Approaching the Reversal ZoneIn April, we anticipated a pullback for JNJ, and since then, the stock has dropped approximately 7%, aligning with our expectations. The current trend suggests further downward movement, reinforcing our previous analysis. We are focusing on the support zone ranging from $134 to $116, with a potential lower bound at $109, the Corona-Low. The ongoing pullback could represent the completion of Wave (4) within this target zone, aligning with multiple levels. We are going to be monitoring this for signs of a reversal within this zone. This zone will be crucial to confirm the next possible upward movement.
NYSE:JNJLong
by freeguy_by_wmc
1
IBM is about to break outI mostly trade crypto but when I saw the daily chart of IBM, I could not pass on the opportunity given the nice consolidation set up with a potential W break out. I think IBM is a great buy in the 172-170 zone. My near term price targets are 185 PT1 and 195 PT2. I think IBM will benefit from AI and Quantum compute trend that continues to deliver productivity gains and market moving news and sentiment. I'm accumulating in the buy zone of 172 and below. This is not a financial advice, DYOR.
NYSE:IBM
by CryptoBreakers
2
US30 /Critical Levels & Volume Signal Potential Bullish Breakout Technical Weekly Analysis: US30 (Dow Jones Industrial Average) A Short Outlook on the Previous Movement: The US30 has experienced a strong bullish trend, characterized by an ascending trend line that began around early 2023. The price saw significant gains until it reached a resistance level near 40,970.0, where it faced some consolidation and pullbacks. Recently, the price has been trading within a defined range, testing both support and resistance zones. Current Outlook: The current price of US30 is around 39,218.5, positioned near a critical pivot zone. The market is showing mixed signals, with potential for both bullish and bearish movements depending on the price action around key levels. Bullish Scenario: Key Trigger: A break and sustained move above 40,005.0. Targets: The immediate target would be the yearly resistance zone at 43,040.0. Confirmation: The breakout above 39,575, along with strong buying volume, would confirm the bullish continuation towards 40,005 and potentially higher. Bearish Scenario: Key Trigger: A failure to break above the pivot zone and a decline below the demand zone at 38,700.0. Targets: The price could drop towards the strong support zone at 36,460.0, and further down to 34,430.0 if bearish momentum continues. Confirmation: Sustained selling pressure and a close below 38,700 would confirm the bearish outlook. Key Levels: Pivot Line: 39,218.5 Resistance Levels: 40,005.0, 40,970.0, 43,040.0 (Yearly Resistance Zone) Support Levels: 38,700.0 (Demand Zone), 36,460.0 (Strong Support Zone & Breakout), 34,430.0 Expecting Weekly Range Movement: - The anticipated weekly range is between the support at 38,700.0 and the resistance at 40,970.0. A breakout in either direction would define the next significant move. Preferred Direction: - Given the strong historical bullish trend and the proximity to the pivot zone, the preferred direction leans towards bullish if the price can break and sustain above 40,005.0. However, caution is advised as the market could still face significant resistance. Summary: The US30 is currently at a critical juncture. A breakout above 40,005.0 would confirm a bullish continuation towards the yearly resistance zone at 43,040.0, while a failure to break this level and a decline below 38,700.0 would signal a bearish move towards 36,460.0 and potentially 34,430.0. Traders should closely monitor the price action around these key levels to determine the next major trend.
OANDA:US30USDLong
by SroshMayi
Long $ENPH till day after earnings report July 24.There’s is a huge lift for all battery and renewable energy companies right. For example, META hired Evercore EVR, to the tune of $54B to build out 11 square mile solar powered data storage facilities for its push into A.I., which requires a lot of energy to run AI.So there’s a ton of money from the large cap MAG 7 companies going into this industry right now. Based on the volume profile and the fib levels already breached, i would easily believe if ENPH just slightly beats rev & earnings, and has decent guidance.
NASDAQ:ENPHLong
by jgeno
4
Mirum Pharmaceuticals (MIRM) AnalysisAdvancements in Rare Disease Therapies: Mirum Pharmaceuticals NASDAQ:MIRM is advancing in the biopharma sector with a focus on therapies for rare diseases. Recently, Mirum submitted a New Drug Application (NDA) for chenodiol tablets to treat cerebrotendinous xanthomatosis (CTX), following positive phase 3 RESTORE trial results. FDA approval could be a breakthrough for early diagnosis and treatment of this rare disease. Positive Market Response: CEO Chris Peetz highlighted the potential impact of chenodiol in alleviating CTX symptoms. Wall Street has responded positively, with Citi raising their price target for Mirum to $64 from $38 and maintaining a Buy rating, reflecting confidence in Mirum's pipeline and recent updates on volixibat and FDA-approved Livmarli. Investment Outlook: Bullish Outlook: We are bullish on MIRM above the $29.00-$30.00 range. Upside Potential: With an upside target set at $48.00-$49.00, investors should consider Mirum's promising pipeline and recent regulatory advancements as key drivers for potential stock appreciation. 📊💊 Monitor Mirum Pharmaceuticals for promising investment opportunities! #MIRM #BiopharmaGrowth 📈🔍
NASDAQ:MIRMLong
by Richtv_official