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A perfect technical scenario on General Electric Today we will speak about GE. Why? because it's on a situation that from a technical perspective is BEAUTIFUL. Let's check those items: 1) Massive range that started in 2019 and was broken on March 2021. Remember that classical chart patterns tell us that when we have a range, we can calculate the minimum target extending the size of it above or below the breakout. 2) After the March 2021 breakout, the price started a consolidation on the edge of the previous major structure. From an Elliott Wave theory perspective, this is a Flat Pattern (composed by an ABC movement, which means that is 100% finished). 3) My conclusion is that this scenario is about to define a new direction when we observe the breakout of the flat pattern. Directions: Currently, the price is in the higher zone of the flat pattern, and I like the idea of thinking about bullish breakouts (I'm not interested in bearish setups). So let's explore this idea better: If we have a clear breakout and the price reaches our horizontal green line, we will consider that as a confirmation of this new movement, and the targets we expect are either the 2nd level of the Fibo extension or the Range extension. Both are valid situations. What if the price reaches the green line and then we have a bearish movement? This is impossible to happen because all our analysis goes in the right direction (100% win rate)... Just joking. You must think on levels where you will say "This is not going as expected fellas, abort mission". That level for us is below the flat pattern. So, if the price reaches our green horizontal line, we will consider that our view is wrong if the price goes below C. Feel free to add any idea, or view about this situation, in the comments! Thanks for reading.
NYSE:GELong
by ThinkingAntsOk
8
Stocks Retrace from HighsStocks have retraced from highs just below our target at 4729. We have been warning you that a retracement was becoming increasingly more likely for several days now. We are finding strong support just above our level at 4649, and several green triangles on the KRI confirm this. After that we will see support from a nearby level at 4632, then we have a vacuum zone down to 4580. The Kovach OBV is still relatively strong, but has tapered with the retracement.
FX:SPX500Long
by quantguy
1
Opportunities on the weed sector | CRONCronos Group, Inc. engages in the production and distribution of cannabis. Today we will take a look at the chart, and we will define what's the scenario we are waiting for before trading. Between 4 to 5 dollars we can see a support level that has been working since 2018. That means that we are in an interesting situation regarding a historical low from where we observed MAJOR bullish movements starting from here. But what is the plan for this? As always, my answer comes from observing past behavior, and in this case, what I can see is that in the previous 2 scenarios we had clear Flag patterns corrections before the big event. So the plan is straightforward: I want to observe a flag pattern or any type of correction with similar size and duration before thinking about risking 1 dollar on this stock. An important aspect when you trade like this is that you can not force the market to provide opportunities, the only thing you can do is get ready for when the market decides to make the formation you want to see. PATIENCE AND PATIENCE The place where I expect to start observing the flat pattern formation is around 8.20 that's the zone where the short-term bullish impulse found a minor resistance and the consolidation started in previous scenarios. (This may be useful for short term traders) Thanks for reading! Feel free to add any idea regarding the Cannabis sector or views about this chart.
NASDAQ:CRON
by ThinkingAntsOk
8
Stocks Flat After New HighsStocks have topped out just under our next profit target at 4729. We are seeing several red triangles on the KRI, suggesting that they are finally meeting resistance. The S&P 500 appears to be consolidating between 4693, and 4729. The consolidation is healthy, as we have been rallying since October, and were starting to look hyperbolic. We do appear to be seeing a bear wedge with a lower bound at 4693, and if we break lower, we have a vacuum zone down to 4649. The Kovach OBV has dipped sharply with the consolidation, so watch for more momentum to come through before we can expect another breakout.
FX:SPX500Long
by quantguy
1
230 days inside a correction | What to do in case of a breakout Let's take a look at the current situation of Boeing: a) For the last 230 days, the price has been on a Corrective pattern (yellow lines) inside a macrostructure (White trendlines) b) Based on past behavior we can see that after the breakout of this type of structure, we tend to observe a small correction. c) That's the situation we think is the perfect spot to develop Bullish setups with good Risk to reward ratios towards the target d) Which is the target? Using the previous higher highs we can draw a trendline that may provide us an idea of a possible dynamic resistance zone. That's why we will use that as the take profit level The key idea for this setup is to observe the breakout and the price above the ascending trendline. If that happens and we see a small correction, that would be a good spot to think about bullish opportunities Thanks for reading, and remember to protect your capital, and always study the situation you want to trade before risking 1 dollar
NYSE:BA
by ThinkingAntsOk
4
Stocks Make New Highs!! 🤑🤑Stocks have made new highs, yet again. We solidly pierced through the 4700 handle, reaching 4719, just 10 points shy of our profit target at 4729, before retracing slightly. We found support at 4693, confirmed by a green triangle on the KRI. At the time of this writing, we are hovering just above this level, maintaining 4700 exactly. The Kovach OBV is solidly bullish, and we are starting to encroach into overbought territory, so the probability of a technical retracement is increasing. If so, we expect support at 4693, then 4649. If momentum continues, then 4729 is our next profit target.
FX:SPX500Long
by quantguy
Let's all buy a metric shit ton of $CRM and get rich.This is a chart of $CRM. The bars pattern is of $FTNT. You can do this with $ADBE and a number of other tech stocks as well. You'll probably notice $ADBE is leading, I'm betting $CRM will follow. Both will catch up to $FTNT. The structure is ready, we've been drawing this bull flag forever. We've lost all hope in stocks. Biden flushed everyone out that is scared of a little tax bump but only poors worry about taxes... they sold the bottom. It's time.
NYSE:CRMLong
by pobudz
$AMC Swing Trade Idea - 43 Price TargetAMC has been respecting the volume shelf support and 150EMA on the daily. I like the idea of swinging calls here for a move to the upside in near future to retest the descending triangle resistance line - $43 zone price target For the longer term, watch for a break of the resistance line followed by confirmation to go long. A move below the 150EMA (blue line) I'd be looking for a good short opportunity. Can also short the triangle resistance line anticipating rejection. Chart looks like hedgies have just been having fun trading this one. Good price action for swing trading!
NYSE:AMC
by FriscoTrades
Stocks Make New Highs Ahead of Non Farm PayrollsStocks have broken out, making new highs yet again. We have reached our profit target at 4693. The next target is 4729. We should face some resistance at current levels, so anticipate stocks to range a bit in a sideways correction, if not retrace to lower levels at 4649 or 4632. There is a vacuum zone below those levels to 4580. The Kovach OBV is still very strong, and is starting to look a bit overbought, so a retracement is becoming increasingly more likely. Non farm payrolls data comes out today, so this could be a strong driver for stocks either way.
FX:SPX500Long
by quantguy
1
Stocks Make New Highs!! Again!! 📈🤑🥳Stocks got a big push from the FOMC minutes yesterday. We have smashed through our profit target at 4649, to make new highs yet again. We appear to be pausing around 4664, and forming a very narrow range here. We feel that stocks are overdue for a technical retracement, so be wary of FOMO-ing into a long position at highs. The levels 4649 and 4632 should provide support, but if not, there is a vacuum zone down to 4580. Our next target is 4693. The Kovach OBV is still very strong, which suggests we are becoming overbought.
FX:SPX500Long
by quantguy
1
Stocks Pause Below All Time HighsStocks are hugging the upper bound of the range discussed yesterday. This coincides with all time highs at 4633. The level we have identified nearby is 4629. The Kovach OBV is still very strong, but appears to have tapered. If momentum persists, we can anticipate another breakout soon, and 4649 is our next target, set by Fibonacci Extension levels. There is a vacuum zone below to the next level of support at 4580. After that, we can expect further support at 4564, 4545, and 4521. We are due for a technical correction. While it may not happen today, those last three levels could be ideas to buy back when we eventually see a correction.
FX:SPX500Long
by quantguy
1
Cup and Handle PlayHertz appeared to be filling the gap it created after briefly enjoying life as a meme stonk, but no. Instead it printed a textbook cup and handle, the likes of which I haven't seen on a real stock as opposed to making something up for demonstrative purposes. Even the nice cup and handles you see in the wild don't have this uniform volume profile through the cup. Then comes the news that Hertz is set to spend billions on 100,000 Teslas. This kind of spend usually pushes a stocks price down in the near term but today we saw a gap up over the 9MA which was previously acting as resistance and is now support. After filling today's gap we are looking at a potential green close, which is crazy considering the hurting rental company's expensive announcement. Looking for around $35 by end of next week.
H
by Keeegs
All the relevant levels and directions in PYPL Today we will take a look at Paypal ; let's start with the main technical elements we can see: First: The support and resistance levels. Currently, the price is against a major support zone working since the beginning of the year. From here, we have defined the next support level and the next resistance zone. Both will be working as primary targets, either for bullish or bearish resolutions. Regarding the bullish view, we have two descending trendlines we should pay attention to. Based on previous behavior, we can expect corrections during the ascending movement. Either on the first one or the second one. The cleanest setup based on a technical perspective would be to wait for contact on the 2nd trendline and see a clear correction. IF that happens, then we can trade towards the Next resistance zone (previous ATH level) Regarding the bearish view, we are NOT taking short setups on stocks. However, the scenario we think would be a clear confirmation of the bearish view would be: -Bearish breakout of the support level - Pullback on the broken support level - A new local low after the pullback would be the confirmation of the bearish movement towards the next support zone (180.00) Thanks for reading! Feel free to share your view and charts in the comment box.
NASDAQ:PYPL
by ThinkingAntsOk
6
Stocks Make New Highs!! What's Next??Stocks make new highs, despite persistent issues in the supply chain, transportation industry and protests over the vaccine mandates. The S&P 500 has broken out of the 4500's and seems to have secured the 4600's for now. We came within 5 points of our target at 4632, with the current high at 4627. We are seeing a red triangle on the KRI at this level suggesting we will face resistance here. Watch for continued momentum at open to carry the trend established in the Asia-Pacific session this morning. If it does not, we should range in the value area between 4580 and 4627. The Kovach OBV is still very strong, so the trend is likely to remain bullish.
FX:SPX500Long
by quantguy
1