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Alibaba - BABA long with $120 targetYesterday the community entered a long on BABA after we backtested a key level of significance and the falling wedge as support. The chart is prettty good, a completed harmonic below support, spring and break of the falling wedge to get above support before backtesting that level as support once again, whilst at the same time showing bullish divergence... No need for anything else. We entered with 5x leverage at 83.43 and the profit taking levels are defined. Tomorrow is earnings and so this is a risky trade, earnings is like the lottery and does take your edge away as we witnessed with Spotify. However, we follow the charts, and they suggest upside. 120$ THIRD TARGET -- LETS GO
NYSE:BABALong
by SynergyTradingSetups
13
DXY, VIX Down = SPY, STONKS UP. Blowoff Top Continues!Traders, It has been an amazingly bullish last couple of weeks both in the stonk world and in cryptos. In this video I cover what has occurred from a technical basis and what I think the charts are now showing us. In short, stonks look to continue their upward trends but crypto is less certain. I also wanted to explain why I went short on a few trades. What was I thinking then and what I am thinking now? Was I too early on my entries or just plain wrong? Stewdamus
INDEX:BTCUSD
by stewdamus
SPY 410 Target Now ConfirmedTraders, A couple of weeks ago you'll remember I expected a bounce off of our 200 day SMA which coincides with the bottom of my channel, making a strong area of confluence and support. But I wasn't sure if that was the end of our drop? Turns out, after testing the underside of our neckline for a patent classic retest, we have now broken below the 200 day SMA and channel. Tomorrow will provide confirmation. As of now, I will say that our $410 target down is certainly in play. And look how it coincides with the RSI! We should hit 410 right about the time the RSI is also finding its support on our long-trending touch and go. Best, Stew
AMEX:SPYShort
by stewdamus
Torrid Holdings big rounding bottom and falling wadge formationCURV is forming a huge rounding bottom (spot on for a plus-size clothing company) with a big gap at around 14 $ on a higher time frame. In a shorter time frame, there is a clear falling wedge that could soon be broken on the upside, this theory could be invalidated as there is a gap to be filled in the lower 2.5 $ area and the 200 ema could be a big resistance. IF the price would go past the Ema with ease I expect a big pump. In the last earning the company beat expectations by more than 40% and could return to be profitable in the next quarter.
NYSE:CURVLong
by frapelloso