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NQ Strong SupportWe all know that tomorrow is a QWD (Quad Witching Day) which defined by investopeida is "refers to a date on which stock index futures, stock index options, stock options, and single stock futures expire simultaneously. While stock options contracts and index options expire on the third Friday of every month, all four asset classes expire simultaneously on the third Friday of March, June, September, and December." While we don't know for sure what tomorrow will bring...we can look at where we stand currently so that we can be best positioned for which sectors to look for movement in. The NQ - after an EOD sell off, we currently sit right back at a strong support level (I have it pulled up on a 4hr, but the Daily chart shows it as well)... we've had strong breaks downward of this support only twice, and have had six bounces off it. While I believe that sectors out of tech will have their time to shine this year, I don't think that tech will just flat out die... with that said, 12750 looks to be a strong level that we should hope to hold & bounce off of overnight / tomorrow... I'd say the odds are in our favor with bulls stepping into action around this level consistently, but with, rotation possibility, bonds having crazy action, and market uncertainty in general you can't be too certain.
CME_MINI:NQ1!
by Logical_Badger
Stunner: Oracle Breaks Out as Peers LanguishSoftware companies have lagged this year as investors focus on cyclicals like energy and financials. But one unexpected name is breaking out: Oracle. As covered previously, strong earnings lifted ORCL to new highs in December. It then pulled back to old resistance and bounced. This week, its shares are closing above their previous all-time highs. Two technical patterns stand out today. First, notice how ORCL broke above $64 on February 22. The stock barely pulled back in subsequent sessions, even as the broader S&P 500 dove to a three-week low. Second is ORCL’s relative strength compared to the broader technology sector. Both of these trends are signs of accumulation. One positive catalyst is ORCL’s improving momentum in cloud-computing, which prompted analysts to raise price targets after last quarter. Now buyers are re-engaging with another set of numbers about two weeks away. The company’s lower valuations may also provide some shelter against higher interest rates. ORCL trades for just 14 times forward earnings and 5 times revenue. Other big names like Salesforce.com and Adobe (which have gone half a year without hitting new highs) trade for at least 3 times more. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:ORCLLong
by TradeStation
Can Nvidia Climb a Wall of Worry?Nvidia has gone nowhere since the summer, but now the chart may be lining up for another push to the upside. The first pattern is the series of higher lows beginning in early January, plus a new all-time high in February. Next, the most recent low of around $528 is almost exactly the middle of its four-month range. After consolidation on either side of that line, has it now become support? Interestingly, NVDA had a large, high-volume drop on Thursday to that price area – but there was little follow-through to the downside. Third, as prices inch back from Thursday's selloff, they’re trying to bounce at both the 50-day and 100-day simple moving averages (SMAs). Finally, stochastics have dipped toward oversold territory. The fundamental story is mixed. On one hand, results and guidance crushed estimates last quarter. On the other hand, investors are worried as NVDA’s pending acquisition of Arm hits a series of regulatory hurdles. Given the strong earnings and broad outperformance in the chip space, will prices now climb the proverbial "wall of worry?" TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:NVDALong
by TradeStation
4
NASDAQ - Bearish or Bullish? As you probably are aware, 10 year yields are have been increasing for the past week or so as the fear of raising interest rates increases. In short, yields go up with interest rates as bond prices decrease. When rates are projected to go up - as markets are a forward looking indicator - stock prices will decline as investors are pricing in a higher cost of capital for companies across the board. The companies that are impacted the most are growth stocks such as the ones listed in the Russell 2000 and NASDAQ 100. These companies get hit harder by decreasing interest rates because they are borrowing at a higher rate than value companies such as Walmart or United Parcel Services. On the 4 hour NASDAQ futures chart, price action has held the 180 day EMA as well as the green uptrend line very strongly since the COVID - 19 crash. There have been two times since December 8th where the NASDAQ futures price action has broken below 180 EMA. In both cases, the NASDAQ failed to turn bearish shortly reversing and turning higher. Obviously, this time it's different for the reason that I mentioned above - interest rates. On the 4 hour chart, NASDAQ Futures has sold off around 9% over the past week - flirting with corrective territory. Previously, NASDAQ Futures sold off close to 12,671.25 before appearing to have turned bullish prior to getting rejected by the 180 day EMA. After the 180 EMA rejection, NASDAQ Futures touched 12,671.25 and appears to making a break to 13,130.50. I am currently holding TQQQ (ProShares UltraPro QQQ) which is a 3x leveraged ETF on QQQ. At the time of writing this, I am currently down on my position with plans to add to my position if NASDAQ Futures can break above and hold the green uptrend line that I have drawn. As of right now, the key level that I am watching is 13,130.50 with hopes that the NASDAQ Futures can break above the 180 EMA (Blue Line) with volume. In my personal opinion, I would turn more bullish on the NASDAQ and even more bullish on TQQQ if the NASDAQ Futures can hold the 180 EMA (Blue Line) with the 20 EMA (White Line) and 50 EMA (Orange Line) crossing over the 180 EMA with volume.
CME_MINI:NQ1!Long
by madisonsoun97
3
Uber Pulls Back. Is it the Next Facebook?Uber Technologies quietly hit a new all-time high on February 11. Now it's pulled back and may be offering some opportunities for the bulls to hail a ride. First, notice the trend line starting at the low of November 4, as stocks began their election-week rally. UBER jumped two sessions later after announcing results. It continued higher until late January, when it pulled back along with the rest of the market. That low created a trend line, to which prices are now returning. Next, stochastics have dipped into oversold territory. Finally, the last four months of consolidation and price action have occurred above the previous highs from 2019 and 2020. In this way, UBER resembles Facebook in 2012 and 2013. The comparison might be apt because both companies went public with key weaknesses. In case you forgot, FB struggled with mobile ads for several quarters. Mark Zuckerberg fixed that problem mid-2013, resulting in a breakout above its initial price range. Like FB, UBER spent its 12-18 months in a penalty box as investors balked at its convoluted business model. But CEO Dara Khosrowshahi has divested non-core business and mapped a route to consistent profits last quarter. Overall, UBER has been through a lot: management turmoil, profitability issues and coronavirus. Now things may finally be coming together for the transportation disruptor to really go places. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:UBERLong
by TradeStation
2
Buy on Uptrend Channel Breakout (BULL)QES ~ very BULL 3 days confirmed stand above uptrend channel (very bullish) Yesterday test previous resistance 0.35. Resistance turned into the support area. Can set main support at 0.35. Today breakout neckline resistance. FA - Healthy Valuation - not yet too overvalue compare to other technology stock Unisem suppliers - Recently be awarded a lot of order from Unisem News - Technology supply chain shortage (international giant tech company request tsmc taiwan to increase production to 200% haha
MYX:QES
by SharKieduDu
TSM Long 12/23/2020TSM is a leading chip maker for some of the largest tech companies on the planet, including Apple, Sony, Huawei, Qualcomm, and others. It is pushing new all time highs & I bought in anticipation of a breakout to those new highs. I got long half of a position @ $104.14 with a stop @ $101.75. I didn't feel comfortable putting on a full sized position going into year-end, but if the trade continues to work for me, I am looking to add. With an initial stop loss of ~2.3%, I am looking for at least a 5% move from my initial entry price, which is roughly the $109.50 level.
NYSE:TSMLong
by apaqu
Anderson from Colliers reiterated a buy ratingAnalyst Charles Anderson from Colliers reiterated a buy rating on the stock while increasing its price target from $13 to $15. Anderson is bullish on the company's prospects related to Sony's PlayStation 5, which incorporates Immersion's haptics technology in the new DualSense wireless controller. One of the notable additions to the newest generation of the game console is the inclusion of adaptive triggers in the controller, which facilitate a new level of haptic feedback for players. Anderson has been using the DualSense controller and called it a "breakthrough" for Immersion to score such a high-profile design win in a mass-market application. Demand for the PS5 has been off the charts, with units flying off digital shelves within minutes of retailers getting additional inventory after launching last month. "Immersion collects a royalty from each controller and we expect more than one controller will ship per console over time to support multiplayer gaming and to replace worn-out controllers," "The DualSense controllers are already available at retail ahead of the PlayStation 5 console launch." Anderson believes that Immersion will be able to expand into other markets with its haptics technology offerings, and that the company has finally created an "efficient and predictable operating model." www.fool.com The analyst also notes that Immersion's fundamentals are becoming more predictable with 80% of revenue coming from per unit royalties, double the amount from four years ago. seekingalpha.com
NASDAQ:IMMR
by AlenCiken
Alphabet Holds the 50-day SMAAlphabet was the only megacap Nasdaq member to break out on its last set of quarterly numbers. Now it’s pulled back to some interesting levels. First, GOOGL tested its 50-day simple moving average (SMA) on Monday and held that line. Second, that SMA is near the September 2 peak of $1726.10. It bounced around that same level twice last month, which could mean old resistance has become new support. Stochastics are also showing an oversold condition. GOOGL isn’t the kind of stock investors have liked recently. They’ve been focused on smaller and more speculative names like solar energy and electric vehicles. However that probably won’t last forever. Pretty soon attention could return to the big names – especially with earnings season next month. And investors might find a lot to like because GOOGL’s last quarter showed a big improvement in online advertising. Both Search and YouTube benefited. It will also be a special quarter as Sundar Pichai starts disclosing operating income for Google Cloud in the results. GOOGL faces some legal risk because of antitrust actions by the U.S. and several states, but those cases will take years. Now that they’re known, sentiment could turn more positive and the search giant could climb a proverbial wall of worry. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:GOOGLLong
by TradeStation
Apple Holds Breakout as iPhone Cycle Takes HoldApple’s price chart continues to show improvement amid reports of strong demand for the iPhone 12. First, the tech giant started December by breaking above $120 and holding its ground on December 10 and 11. It then proceeded to break $125 and hold its ground again yesterday. This second level is important because it was key resistance on October 12 and 13. MACD has also been rising steadily since early November. On the fundamental front, Morgan Stanley said AAPL’s taking market share amid strong demand in China. Nikkei recently reported handset production will rise almost 30 percent in the first half. Yesterday, Reuters added that AAPL’s planning to produce electric cars by 2024. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AAPL
by TradeStation
6