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Wayfair at the 50-day SMA After Big RallyAmazon.com might be the poster child of e-commerce taking over the U.S. economy. But it’s by no means the only beneficiary of online shopping in the last six months. Wayfair has rallied even more, surging over 1,300 percent from its March low to August high. Now it’s pulled back, with some interesting signals. First, we have the deeply oversold condition on stochastics. Second, we have a pullback to the 50-day simple moving average (SMA). It’s the first test of this line since the rally began. Third, W tested and held the $235 price range that was resistance in late July before breaking out toward $300. Finally, the 8-day exponential moving average (EMA) has stabilized and price is pushing back against it. This could be a useful indicator of short-term momentum. If W breaks back above the 8-day EMA, the longer-term uptrend may resume. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:WLong
by TradeStation
Chinese Yuan Chart Could Be More Important than the NasdaqThe monster rally in Nasdaq stocks has obviously grabbed most people’s attention recently. However there’s also been a major shift in currency markets as the U.S. dollar slides. That trend has paused for more than a month. Looking simply at the dollar index , it’s not clear whether the decline is ready to continue. But DXY is two-thirds European (euro and sterling). Today we want to look at another currency that’s not even a member of the dollar index: The Chinese Yuan . USDCNY consolidated under roughly 6.85 in the first half of September before breaking lower this week. That was a low in January, so it appears that old support has become resistance. The news flow is also noteworthy because China just reported better-than-expected industrial production. Interestingly, the South China Morning Post ran an editorial yesterday titled “China should seize the moment to free up controls on the yuan to expand its international use.” Coming from an officially sanctioned publication, that seems to indicate Beijing is going to let the yuan appreciate. (Which means USDCNY goes down.) Earlier in the month, Morgan Stanley predicted USDCNY will keep moving toward 6.6 by the end of 2021. Meanwhile, headlines for the U.S. dollar are just the opposite. Our economic data has rebounded somewhat, but more than half the jobs lost to coronavirus remain lost. Meanwhile, Jerome Powell and the Federal Reserve will probably keep the dovishness coming at their meeting tomorrow. Most people probably cannot trade USDCNY. However, gains in the currency have previously lifted Chinese Internet stocks like Alibaba and other members of the Nasdaq Golden Dragon China Index . We entered 2020 expecting money to flow to China after global indexes were changed. Despite the pandemic, that process has been playing out as expected. Could it even accelerate into year end? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
by TradeStation
Dotcom 2.0? Nasdaq Is Getting Back to Late-1990s GiddinessMost people know that the Nasdaq-100 had a monster run in August. But just how extended was it? By one measure, it reached levels of giddiness last seen in the dotcom bubble. Our custom script “ Distance from MA ” (published on March 18) shows how far price has moved away from a given moving average. It supports simple, exponential , hull, weighted and volume-weighed MAs. We changed its default setting from the 50-day simple to the 200-day simple. The verdict? NDX was 32.8 percent above its 200-day SMA on September 2. You have to scroll all the way back to April 7, 2000, to find a higher reading. Children born on that date are in college now! NDX pushed that far above its 200-day SMA several times starting in 1999. This is symptomatic of a strong bull market. The fact it’s only just appearing now may suggest there’s still a lot of potential for the index to keep running. Interestingly, the pullback from the September 2 high pushed stochastics to the most oversold levels since March. Given the strong upward momentum and the apparent support at the 50-day SMA, this oversold condition may look like a buying opportunity to some. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
TVC:NDQLong
by TradeStation
4
Apple May Be Oversold Before Tomorrow’s Event Apple has had a sharp pullback after splitting its stock. Now some new catalysts are in focus with the product event tomorrow and potentially new iPhones later in 2020. Let’s study the chart before Tim Cook takes the stage at 1pm ET on Tuesday. First, stochastics show AAPL is the most oversold since late March. That alone might grab some attention. Next, AAPL has been holding around $110. This is near the (split-adjusted) low from the week of August 10-14. It’s also near the low after the big selloff week of August 31-September 4. Interestingly, last week’s low of exactly $110 was $0.89 under the previous week’s low. However, it quickly bounced and closed above it: a false breakdown. The weekly chart also highlights the large spinning-top/doji candle. That halted the advance of both AAPL and the Nasdaq at the time, but they’ve been holding the bottom of that candle since. These patterns potentially suggest AAPL has found a bottom for now, with the possibility of upward momentum continuing as new products and services roll out. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AAPLLong
by TradeStation
8
AMD short-term correction setup, long-term BULL caseAMD (Advanced Microdevices) has been on a tear, and for many good reasons. Still, note the short-term correction and whether all its current growth potential has already been priced in. AMD gained strong profitability in 2016 and beyond posting strong and accelerating results with the success of its Ryzen processors. AMD's ability to both produce and deliver more quickly than the industry Goliath Intel has had many rushing into this stock. Most interesting was the recent rotation of traders from Intel into AMD (though one would think not to bet against Intel, based on all history). In this chart, we started with the Weekly pulling back the curtain on historical support and resistance trends. We then analyzed the impulse started end of 2015 / beginning of 2016 which coincides with the company's strong product releases and profitability. In recent times, the company has been accelerating its success, now proving a strong contender against the traditional leader Intel, and further the acceleration of digital transformation due to the 2020 pandemic. Note the end of this major first wave of the impulse. The stock may retest its high around $93, but we'd expect that it's more likely to see a correction towards $60 in the short term, though given the strength of this asset it would be unlikely to get all the way there. Still, one could set some buy ladders and try and get lucky with buy orders just above $60 and $50. In the mid- to longer-term we expect this stock to break it's ATH and search for what could be a larger 3rd wave to the upside as tech innovation further accelerates worldwide. Disclaimer: I am not a professional. Analysis is my thoughts and for my own education and revelations on trade setups. I am more than open to feedback or being pointed to resources that can improve my analysis. Thank you!
NASDAQ:AMD
by Shadowfigure
1
Downside Bias on the Nasdaq too!The downside bias on the Nasdaq is greater and clearer a shown in the other indexes. Remember, that tech stocks led the markets up in a record run. Now, it appears that the reverse is also true, leading the downward pressure with commitment. Technically , the weekly candlestick pattern show a bearish engulfing, followed by a rather filled down candle, forming the three outside down pattern, and suggests more downside to follow. The MACD had crossed down supporting this view. Target of 9600 by end October with a check at about 10400.
CME_MINI:NQ1!Short
by Auguraltrader
Amazon.com Bounces at the 50-day SMAThe Nasdaq-100’s sharp pullback last week brought all kinds of solid names back to earth. And one of the most prominent is Amazon.com. Jeff Bezos’ e-commerce giant triggered some alerts on TradeStation yesterday and Friday after dipping down to test its 50-day simple moving average (SMA). This provides a fairly straightforward momentum setup. AMZN is also holding the top of a bullish triangle around $3,250, which it broke three weeks ago. Next, stochastics show an oversold condition. Finally there are some potentially bullish fundamental considerations. One is limited exposure to China – unlike chipmakers or Apple . That may reduce its risk given the political backdrop into November. Second, AMZN has the highest share price in the Nasdaq-100 and the second highest in the S&P 500 (after homebuilder NVR). Tesla and AAPL just delivered stock splits. Will AMZN follow? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AMZNLong
by TradeStation
Potentially an Ascending Triangle forming for OSTK?It appears as though a Head and Shoulders on the RSI & KST has already played out to the downside, notice the blue Descending Triangle with the red colored lines representing the H&S on the RSI. Investors should acknowledge that the previous CEO of Overstock was great friends with Warren Buffett and spoke with him privately before departing the company. I find no coincidence that Bank of America is now involved with book running a financing regarding OSTK, interesting. Buffett recently ventured into Gold by buying shares in Barrick Gold, "if" Buffett was going to buy anything crypto related I would imagine Overstock is of interest. Buffett sold basically all his bank stocks except Bank of America, interestingly Buffett bought more Bank of America. tZERO said Hong Kong-based private equity firm GoldenSand Capital (formerly known as GSR Capital) has bought a 5 Million stake in the company earlier in the year, I mentioned before I wouldn't be surprised If Chinese investors are supporting this stock heavily now, especially since China is rolling out their new digital currency. It would make sense given the parabolic rise in the OSTK since the announcement and chart I've linked to this chart. Nothing wrong with a little speculation. Back to the chart, if we get a bounce off the green upward sloping support and the price gets rejected at the horizontal green line of the potential Ascending Triangle, the RSI is likely get back into what was a descending triangle and could potentially top out at the downward sloping resistance of the blue pattern in the RSI. Or, It's possible OSTK could get back into the blue pattern on the RSI and create a support at the base of the pattern to then look for some higher high creation. We've possibly seen a blow off top that will end in a bearish H&S pattern that has already played out on multiple indicators. Interestingly, the price has not formed the right shoulder yet, I have placed three coinciding red lines to represent the potential H&S. Or, OSTK simply has seen a healthy correction back to the public offering price of $84.50 per share, and now we're going to continue the parabolic uptrend? It's possible we see a Golden Cross on the KST this week, I've placed a question mark icon to represent where a potential golden cross may occur, if the green line crosses the red to upside similar to previous examples on the chart where I have placed blue fingers pointing upward OSTK would start looking very bullish.
OLong
by ScotianBot
Ascending Triangle & Triple Bottom for CRSP?Notice the dark blue pattern on the chart, there's noticeably a Ascending Triangle and coincidentally a bullish inverted H&S where I have placed the green lines. Above each green line is appears to be a bottom, and there's three very noticeable on the line chart as opposed to the hollow candle chart. I have placed three blue finger icons so there is no confusion, each finger represents a bottom of the Triple Bottom. On the RSI there's was clearly a modest divergence, if the Ascending Triangle breakout to the upside the RSI is going to need to create a higher high and break out of the pattern to the upside negating the possibility of this ending in a bearish divergence & descending triangle.
NASDAQ:CRSPLong
by ScotianBot
OSTK is trading in an Ascending Triangle.Keep an eye on the KST, if the price continues rising but there is no higher high on the KST or the RSI there will be a double bearish divergence formation. KEY TAKEAWAYS of Ascending Triangles. The trendlines of a triangle need to run along at least two swing highs and two swing lows. Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy. A long trade is taken if the price breaks above the top of the pattern. A short trade is taken if the price breaks below the lower trendline. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
OLong
by ScotianBot
Tesla Has an Outside DayTesla has obviously had an amazing run. This morning it spiked as high as $2,129, more than 900 percent above its 52-week low one year ago. But TSLA hasn’t held that level. Its high occurred in the first minute of trading, and prices quickly knifed under $1,940. That’s resulting in a large outside candle on the daily chart. This is a potential reversal pattern – especially when it occurs at a big round number like $2,000. Happening early on a Monday is also a potential sign of capitulation buying from retail investors submitting market buy orders over the weekend. TSLA’s stock split, which takes effect next Monday, August 31, is the big catalyst. While this can definitely be a positive for a high-flying technology name, the euphoria may be priced in after TSLA rose more than 50 percent on the news. (It was announced after the close on August 11.) Today’s candle is similar to the July 13 failed breakout (also on a Monday). TSLA and several other big Nasdaq stocks drifted for a month after that session. Traders may want to start looking for a deeper pullback in TSLA, and not buy the dip too quickly if sellers take charge.
NASDAQ:TSLA
by TradeStation
3
$RUN can fall in the next daysContextual immersion trading strategy idea. Sunrun Inc. engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The demand for shares of the company still looks lower than the supply. This and other conditions can cause a fall in the share price in the next days. So I opened a short position from $36,55; stop-loss — $39,02. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NASDAQ:RUNShort
by KozakHlib
INTC , to Immediately Buy-while-still-Cheap? Is NASDAQ:INTC a great buy opportunity while still cheap ? Well let's find out . After the drop from around the 70 to less than 48 , this stock is much cheaper than it used to be and at the same time I think that there is still a bullish sentiment in the sens that the price is still above the green line . This , being an insufficient condition to buy, one has still to wait for a clear confirmation , which is price breaking above the 51,5-53.5 area with bullish strength (When the signal is valid I would update the post) . At that point there will be a much greater probability for the stock to break above the white line and recover from the drop .
NASDAQ:INTC
by StockAnalystPro
Alibaba: Entering an expansion phase towards $400.BABA is currently consolidating on the 1D chart (RSI = 59.048, MACD = 6.230, ADX = 19.815) but the important news of the month is that it broke in July two very bullish long-term patterns (the blue Channel Up and the dashed Higher Highs trend-line since Jan 2018) to the upside. This resembles the expansion phase that Alibaba had is 2017. If an identical +140% sequence is completed then it can make a new high around $400 by late 2020-early 2021. Our Target Zone when we'll start taking profits is 370.00 - 410.00. ** If you like our free content follow our profile to get more daily ideas. ** Comments and likes are greatly appreciated.
NYSE:BABALong
by InvestingScope
$SHSP can fall in the next daysContextual immersion trading strategy idea. SharpSpring, Inc. operates as a cloud-based marketing technology company worldwide. The demand for shares of the company still looks lower than the supply. This and other conditions can cause a fall in the share price in the next days. So I opened a short position from $7,91; stop-loss — $8,86. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
SShort
by KozakHlib
4
Nasdaq sell - if price closes below -0.27 Fib extensionHello traders and analyst - we have been monitoring the Nasdaq and profit taking, but now it is time for a new outlook. Despite the obvious of the Nasdaq and technology sector growing throughout the V-shaped first demand zone hit back in March - the Nasdaq has reached its all time high. W formation: The Nasdaq ceiling of 11,000 was tapped and now a W formation has occurred at the top - what happens after a W formation? We have a sell to correct - as the extension will not be sustained. Also conducting a Wave pattern but applies - Wave 5 profits are now being completed. Fibonacci - Now what can we see - price is battling for the monthly close of -0.272% over extension - However, we can see price moving against this to close below. If price does not close below - await the next move on the August candle to verify further selling. Monthly low - March - 1.00 0.00 point is the Feb high So our technical view: as with the S&P, VIX it is the same scenario - where price has begun to complete a 5 wave target and now needs to break the rising channel which is also the supply zone. COT data - Long Shorts Total %Longs %Shorts Net Avg_13 13,697 9,948 23,645 58% 42% 3,749 Avg_20 13,598 9,699 23,297 58% 42% 3,899 Avg 50 14,545 10,071 24,616 59% 41% 4,474 Avg_130 14,566 10,037 24,604 59% 41% 4,529 Buyers keep looking to take out the stops of sellers but the shorts are creeping in now. let's await the 10,800-11,000 before assessing again. Same fundamental view from previous posts apply. Nothing has changed. A question, will the stimulus provide further support or is the show over? A reset is needed? Many thanks for all the likes and support. To any new followers, welcome and we hope we inform your trading needs. Thanks, Team Lupa
OANDA:NAS100USDShort
by LupaCapital
Facebook Just Had a Bullish Outside DayFacebook has lagged other big tech and FANG stocks recently. It’s up just 4 percent in the last month, less than half the gain of the Nasdaq-100 in the same period. One reason is that it was overbought after breaking out to new highs on May 20. It then reeled on news of an advertiser boycott last month, but quickly returned to its old range above the January highs. FB tried to break lower yesterday, but was defended below Friday’s lows. By the time 4pm ET rolled around, the social-media giant had established a new all-time closing high. It also printed a printed a bullish outside candle by eclipsing the previous high. That pattern could now signal FB’s recent neutral trend is ready to turn more bullish. Netflix climbed into its last earnings report. Will FB follow a similar path with results due next Wednesday, July 29? Additionally, this chart shows FB's 50-day simple moving average (SMA) and our Distance from MA custom script. Notice how it provided support last month and is now rising from the downside. It now has the potential to squeeze FB higher, especially after yesterday’s outside candle.
NASDAQ:METALong
by TradeStation