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Is DKNG a bettable buy?As shown on the daily chart DKNG has been on a clean rise this entire year now up 100% over the first six months. An earnings report is due in about three weeks. Sports betting may have some seasonability and most of all collegiate and professional sports are in the off season at this time. No matter, the chart shows a steady rise since the last earnings ( small) beat in an ascending channel between two and three standard deviations above the mean VWAP anchored one year ago. The MTF RSI indicator of Chris Moody shows both RSIs at about 70 and so not overbought. Trading volumes are steady and consistent. The relative volatility indicator shows some increases in the past 9-10 trading days. Overall, I believe that DKNG is suitable for a long swing trade which I will close just before earnings.
NASDAQ:DKNGLong
by AwesomeAvani
1
PSNY a niche EV manufacturer penny stock LONGPSNY has seen a price rise of 30 % in the past month. This specialty EV manufacturer does not compete with TSLA but only perhaps ARVL also based in the UK. The 2H chart is quite healthy. Price broke out above the mean VWAP anchored to the beginning of the year on July 3rd and is now approaching one standard deviation above that. The MTF RSI shows both the one hour and daily RSIs crossed over 50 the same day. On the MACD indicator the K and D lines crossed confluent with the horizontal zero line. Signs of bullish momentum found, I will take a long trade targeting 25% of upside at $6.00 which is the double top on January 31/ Feb 1 as well as three standard deviations above the mean aVWAP.
NASDAQ:PSNYLong
by AwesomeAvani
7
XAUUSD- Extended View Long Bias Spot GoldXAUUSD on the daily chart has been in a trend down from $2179 since early May when its candle wicks also reached into the zone between the lines two standard deviations above two different anchored VWAPs set at the early and late February high and low pivots. In the past week, Spot Gold pivoted above the support of the aVWAP lines one standard deviation below the mean. The MACD indicator predicted the reversal with a double bottom shown as a green line. Above the current price are the mean VWAP and the confluent POC line of the long-term volume profile at 1959. From my analysis of these findings, I will take a long trade entering @ 1959 targeting first 2000 and then 2060 based on the trending of the aVWAP bands. I may also review the JNUG ETF and have already taken a position in GLD.
FX:XAUUSD
by AwesomeAvani
NKLA Long from bottom of channelNKLA has had an interesting week as it sought to have shareholders vote for a dilution to raise the cash necessary to grow its business. The former CEO now convicted and awaiting sentencing as a major shareholder led the opposition and the vote for a dilution failed. Seemingly, NKLA will now seek capital through some other means. Earlier, it was awarded a grant of $24M by California to build out hydrogen station infrastructure along the interstate highways. On the 15-minute chart, the price is currently at the bottom of a slowly rising channel coinciding with the bottom of the Donchian channel indicator and two standard deviations below the mean anchored VWAP. I see this as a good entry point for targeting first the middle of the channel and secondarily the top of the channel. I will find an exact entry on a short time frame likely 1 or 3 minutes and expect to realize a profit of 12-13% potentially intraday. Without regard to the fundamentals of NKLA's financial health, given the extreme volatility, I believe that NKLA can be successfully traded long if the trade is entered when it is oversold and undervalued.
NASDAQ:NKLALong
by AwesomeAvani
1
TSLA Weekly Longterm LONGTSLA is here on the weekly chart. I have added a couple of anchored VWAPs and their standard deviations to the chart itself. The two indicators are the zerio-lag MACD which shows upgoing lines crossing the zero horizontal line and a positive histogram. The Price Volume Trend indicator shows a cross and consistent upgoing action since February 1, 2023. The chart itself shows price to have crossed over the two mean VWAPs 4 weeks ago which is confirm- atory for bullish momentum. TSLA pivoted up from the second deviation below the mean VWAPs about February 1st. My target is $360 the present level of the second deviation lines (red) above the mean VWAP confluent with the horizontal resistance zone of the highs from November 2022 January 2023 and April 2023 all a triple top of sorts. I am highly bullish on TSLA overall given its progress in autonomous driving, charging station station infrastructure, deal making with F GM and RIVN insofar as charging standards and cooperative ventures as well as obvious signs of growth with Cybertruck production, and new plants in Mexico and potentially Spain and India. I have purchased ten options striking $350 with a December 2023 expiration. I have call options expiring in August and September. I expect to roll them out for more than a year to minimize the tax treatment of expected significant profits.
NASDAQ:TSLALong
by AwesomeAvani
1
BOIL- Go Long SetupBOIL has had a busy month with the resurgence of natural gas prices and the reverse split six trading days ago. I analyze it as having further upside. On the 30-minute chart I have added two anchored VWAPs to the left on separate pivot points. This serves to make out dynamic support and resistance. Price has crossed over the mean VWAP zone which is between the heavy black lines. In confluence with that, it has crossed over the POC line of the volume profile represents the price point with the highest total trading volume over the visible time interval. Above price are the two targets being one and two standard deviations above the mean aVWAP. The volume indicator shows increasing relative volume overall as a sign of accumulation which generally results in price appreciation from the demand trend. I will set the stop loss at $.10 below the POC line and take a long position. One third of the position will come off upon each target advancing the stop loss to above the entry and making the trade risk-free. Another third with TP2 and finally the The remaining third will run on a trailing stop so I do not spend time micromanaging a smaller position. I believe that my overall bullish bias will be rewarded yet again over the near term.
AMEX:BOILLong
by AwesomeAvani
HAL an energy stock setting up LONGHAL being part of the energy/ oil sector has been down lately but after all in keeping with the concept of buying low and selling high, it may be at a buying point. Here in the 4H chart, I have set up two long term anchored VWAPs one at the swing pivot high a year ago and another at a swing pivot low last October. As a result the chart has zones between the values (1) the mean VWAP zone between the two thick black lines. (2) the upper and lower one standard deviation from the mean zones between lighter blue lines and (3) the upper and lower two standard deviations from the mean zones between the lighter red lines. HAL's price has crossed the mean WVAP zone from underneath it, a sign of bullish momentum and so a buy signal. The targets are the evolving dynamic resistance above in the form of the zones between the blue lines and beyond that the red lines. The volume profile with a POC line near to the mean VWAP validates the setup. Accumulation in the three months as shown by higher relative volumes in the past three months is another validation. More demand will push prices higher. I see this as a long-trade setup. ( I also rely on Buffet buying more OXY ) My preferred position is a call option expiring in November or December at a strike $30-31 which if performing well will be held until a couple of weeks before expiration . This idea is meant to highlight the use of anchored VWAP on high time frame charts to capture the role of both price and volume in market dynamics and in the determination of zones of liquidity and volatility so as to provide quality analysis without reliance on multiple lagging indicators that may neglect any focus on volume and so handicap the trader seeking to take high quality A+ setups layering in some trade managment tactics to optimize alpha returns.
NYSE:HALLong
by AwesomeAvani
WKHS reverses in sync with NKLAWKHS is in similar circumstances as NKLA in the potential for a delisting due to low share price. NKLA has been cleared and is a bit above $1.00 ( see my bullish bias idea) Here WKHS is below $1.00 but is apparently reversing. On the 30 minute chart, price is rising and is above various VWAPs anchored to the left at various points. The last trading day saw a price rise of over 8% Relative volatility has changed from red to green and is above the running average. The zero-lag MACD shows parallel lines rising above the histogram. The three in one indicator shows that money flow, RSI movement and momentum are all bullish. I see the setup as sufficient for potential profit given the risk. I will take a long trade here selecting an exact entry on a lower time frame chart. The stop loss will be just below the VWAP lines at $0.8335. ( A rising tide lifts all boats? - FSR FCEL PLUG AND NKLA are rising . so are TSLA and Ford- I love the buoyancy !)
NASDAQ:WKHSLong
by AwesomeAvani
Can NVAX rise again?NVAX has had significant down trending over a wide range of time. On the 4H chart it seems to be pivoting from a swing bottom 3-4 days ago. This is accompanied by a cross of the MACD lines under the histogram on that indicator and a flip of volatility on the relative volatility indicator. NVAX has been subject to significant short selling. Price is presently nearly two standard deviations below the mean anchored VWAP set in mid May. Basically it is in deep undervalued oversold territory and now with a rise. The volume profile has a point of control level considerably above the mean VWAP. This is the level with the highest volume of trades showing most trades occurred well above VWAP. This would be traders taking profit and selling or alternatively short sellers opening a position but more likely a combination of them. Price wants to ascend to at least VWAP if not the POC line. My analysis is that any significant rise could begin a squeeze on short positions. Those closing with a buy to cover trade would in effect be synergizing new buyers and add to the bullish momentum, Accordingly, I will open a position early and see if I can get in ahead of a potential short squeeze. While speculative, a narrow stop loss at 6.80 the second band line below the mean VWAP will take a lot of risk off the trade and allow me to be patient comfortably watching the price action.
NASDAQ:NVAXLong
by AwesomeAvani
8
ABT a slow moving low beta medical stockABT is Abbott Labs, a well-established medical technology company has had good earnings twice this year. In the first episode, the price trended down then recovered in a retracement. I have anchored a long-term mean VWAP and its standard deviations as a means to assess areas of dynamic support and resistance. One week ago, the price crossed the mean VWAP in its uptrend. I see this as a good place for a long trade over a month or more. For a stop loss I will place the stop below the mean VWAP also confluent with two horizontal support lines as well as the rising support trendline and the POC line of the volume profile Targets are the first and second standard deviations at about $105 and $110. I will make an optimal entry from a pivot low on a timeframe of 30-90 minutes. As the anticipated ROI is relatively small although with reasonable risk, my approach is a call option for mid-September with a strike in the range of $100-104. I expect this to yield 25% or more monthly until signs of a pullback or reversal. While the general market has heightened volatility and controlled chaos, I see adding some trades of slow-moving low beta stocks to be proper risk management.
NYSE:ABTLong
by AwesomeAvani
BOIL Day Trade Recap and ReviewBOIL the 3x Leveraged ETF of natural gas futures has been highly volatile. Volatility yields high profits if there are good entries and trade management. This past Friday BOIL was doing a reverse split ( 20 shares become one) which I considered to be an opportunity for high profit because a higher number of traders would have eyes on the chart. The 15-minute chart is shown here with an anchored VWAP from 2 days earlier. At market open price reversed a downtrend after the reverse split in the premarket. It got support from the line one standard deviation below the mean VWAP. My first considered entry was the second green HA candle in the reversal with a stop loss at the pivot low of the red candles. However I passed on this entry and instead entered upon price crossing the mean VWAP. The entry was supported by the indicators showing Z score and volatility. The entry was made more precise by analysis on the 5-minute chart. The stop loss was set at the value of the close of the last candle to close below VWAP. After that, trade management was routine. Every time price went up 1% I raised the stop loss by the same amount until getting up 6% Once at that level, I changed to a trailing stop loss of 2% so I could pay attention to other trading chores. At the same time, I set an alert for when the price crossed to above two standard deviations above the mean anchored VWAP. I did this because this is the overvalued overbought area where institutional traders will set sell orders either short selling or closing profitable trades. The resultant reversal would diminish my unrealized profits. In this case, I got the alert and closed the position without the trailing loss. The trade resulted in a profit of 12% without use of leverage or margin other than the leverage imbedded in BOIL inself.
AMEX:BOILLong
by AwesomeAvani
UNG continues to rise UNG the ETF that tracks natural gas futures has continued on a significant uptrend since June 1st The 2H chart suggests to be that the trend will continue this upcoming week. UNG is now above the POC line of the long multi-session volume profile. UNG has had support from the VWAP line representing two standard deviations below the mean. In recent days, price has crossed that mean VWAP in a sign of bullish momentum. The volatility oscillator indicator is showing bullish volatility while the RSI is high above 80 and staying there without any fade to suggest bearish divergence. Overall, I will continue to run my position without any partial take profit. My target is the VWAP line that is two standard deviations above the mean anchored VWAP and so presently about 7.85. Any new trade would have the same target while setting the stop loss just below the POC line.
AMEX:UNGLong
by AwesomeAvani
1
Is SOFI a buy or a sell?SOFi in the past month as shown on the 4H chart has run up more than 80% and now appears to be in a standard 50% Fibonacci retracement. Price has descended from two standard deviations above the mean VWAP to a single deviation after a Doji reversal candle on June 14th. The reversal was also marked by the RSI and the signal lines crossing at a reading of 93 and then descending. The price volume trend indicator went from green for increasing to a flat line and then red for decreasing. Overall, I believe that SOFI has nearly completed a retracement. I will watch for RSI to rise above 20 and the PVT to transition from red to green and the candles themselves for a bullish candle pattern or formation in order to ascertain an optimal long entry. I will do this on a 5 or 15 minute time frame chart to make the best assessment of that entry. My first target is $ 10.20 or just under the pivot high while the second target is $13.00 just under a support area a year ago on the weekly chart. Fundamentally, I believe that the reactivation of student loan repayments will have dramatic effects on SOFI's earnings.
NASDAQ:SOFILong
by AwesomeAvani
12
EBS a biotech company focused on vaccinesEBS is a small biotechnology company whose forte is the clean processing and manufacturing facility that the FDA requires for certain bioprocessing to be certified for delivery of products to end-user patients. It is not a research facility like the one in China that accidentally released COVID and the global impact will be likely felt for another decade. EBS does depend on federal support and income from contract work from vaccine manufacturers. There is reasonable expectation or persistent and consistent revenues ongoing without fail unless the FDA decertified the facilities. On the chart, EBS is in a flat bottom triangle on its base. It is presently rising out of the triangle and towards the mean anchored VWAP It is just above The POC line which functions as dynamic support in the demand zone. I see a long trade with the stop loss below the POC line, the first target the blue line representing one standard deviation above the mean VWAP at about 9.4 while the second target is the redline two standard deviations above the mean VWAP at about 10.05 while the final target contemplates that EBS will challenge the high in May of 10.75.
NYSE:EBS
by AwesomeAvani
TSLA tyring to get to blue skyTSLA on the daily chart descended from a triple top Summer '22 into a downturn which reversed after earnings in late January. Since then with the usual waves of up action and retracement it has risen into its current range also going through a cup and handle pattern from early April into late May. On the chart with the volume profile and anchored VWAP overlaid, price is at the confluence of the POC line and the mean anchored VWAP - over the past year the highest volume of trading was at about $185. RSLA is now above that bullish momentum. TSLA short-selling bears are getting destroyed right now. Their buying to sell is the genesis of a potential short squeeze. The latest trend started after an announcement of partnership with Ford regarding charging stations. I have drawn onto the chart what I see as horizontal resistance lines for targets in a trade. Aslo on the chart is a set of zero-lag EMAs to provide further context. I will take a trade of four additional call options with a strike of $185- I will close one for each horizontal target reached. I will run the last contract on a trailing stop loss of 20% while expecting an overall conservative realized take profit of over 300%. The stabilization of macroeconomic headwinds in both the US, Europe and China will allow significant tailwind to push TSLA higher. One of those tailwinds could be the imperative that a rising price places on short sellers including a vast array of put options.
NASDAQ:TSLALong
by AwesomeAvani
22
GME - Is Gamestop ready for another run ?GME this past week showed a nice reversal as seen on the 30 minute chart. Price hit a swing low on May 2nd and then rose the rest of the week. Is it riding above the linear regression line set to draw context and direction. On the anchored VWAP bands GME has crossed over the first standard deviation VWAP line as well as the mean VWAP. Buying volume has replaced selling volume in the past 3-4 sessions. GME crossed above the POC line of the intermediate term volume profile suggesting buyers are taking control of the market Please comment. What do you think? Is GME getting ready for another launch?
NYSE:GME
by AwesomeAvani
21
AUDNZD bounces down from the Overbought ZoneOn the 15 minute chart- the AUDNZD pair is shown to have encountered overhead horizontal resistance by the Luxalgo indicator. It has been unable to get above the 2nd standard deviaion line of the anchored VWAP and deflected downward. Price is now below the POC line of the multisession volume profile. Overall, bearish bias is on the chart as confirmed by the zero lag MACD with the lines crossing down on the horizontal zero line. I will trade an additional short sell trade on this pair and review the strength of AUD as compared with EUR USD and JPY for other trade possibilities. My target here is the underlying green zone of support and demand.
Short
by AwesomeAvani
UNG- Buy at a BottomAs shown on the 4H chart, UNG has been trending down albeit with a triple top in April and a head and shoulders in early May. It is presently at the bottom of the long term volume profile and two standard deviations below the running mean anchored VWAP. This is deep undervalued territory. On the MACD indicator, the K and D lines intersecting while under the histogram which is positive portrays an early entry signal. I believe that it is inevitable that UNG will have an uptrend in June as it did in April and May. The uptrends had a slope of about 1.5-3% per day while underway. I will take a long trade in UNG and potentially BOIL while leveraging XNGUSD on forex. For UNG, the targets are the POC line of the volume profile, and mean VWAP , the final target is one standard deviation above VWAP while the stop loss is three standard deviations below VWAP ( thin green line).
AMEX:UNGLong
by AwesomeAvani
DE traders buy on favorable earningsDeere Company had favorable earnings in May reporting quarterly earnings of about 3.5 % on their share's market price. DE is a blue-chip industrial sector stock comparable to CAT. It not a fast mover but very suitable for options trading or investment. On the 4H chart DE had been trending down through earnings in a descending parallel channel and relying on a lower VWAP for support. At the middle of this past week, DE made its reversal move into a trend up. This was accompanied by a change in the volume to predominantly buying volumes relatively high compared with the period before the earnings. This surge of volume of sorts is the fuel for upward price action. The zero-lag MACD indicator shows moving average divergence Price is breaking out of the channel moving towards the mean VWAP and POC line of the volume profile. demonstrating bullish momentum. Accordingly, I see DE as well setup for a long trade. ( SL $345 pivot low TP1 $400 ( 1 std above mean VWAP ) TP2 $420 ( 2 std above mean VWAP)
NYSE:DELong
by AwesomeAvani
SOFI in consolidation so can it continue bullishSOFI on the 2H chart is showing a massive bullish move of 30% in ten days. Most of the trading volume was near to the present price and indicated by the POC line on the volume profile. Price has not moved since most of the trades as there is now a consolidation phase more or less in the style of the high tight bull flag pattern. The three pat indicator of RSI, momentum and money flow index is red for momentum which went over 60 and then 80 and otherwise green. Overall, the indicator is a bullish bias. The volume indicator interestingly shows most of the the massive increase in volume is at the consolidation phase. This makes sense to me because in a nearly parabolic up move without a pullback it is hard to find a decent entry. Many traders including those based in large institutions will simply wait until a consolidation phase begins. The price is in the upper VWAP bands showing buyer has successfully pushed against the well-entrenched short sellers. The rise in price could force short sellers to buy to cover and close. In doing so they would actually help entrench bullish momentum. I believe I will join others in a long trade awaiting the next leg up. My stop loss is the mean VWAP +1 std dev while the target will be mean VWAP +3 std dev. Fundamentally, I believe that the financial sector including the fintech subsector are getting hot as technology is overextended.
NASDAQ:SOFILong
by AwesomeAvani
3
CAT appears to be starting to digCAT as a blue-chip industrial is not a fast mover- it is best suited for options traders or investors. On the 4 H chart, CAT rose from the lows on a trend up from last November through this February. It then descended in a retracement about a 50% Fibonacci extent to its present value. It is now at the POC line of the volume profile for support and is near to the mean anchored VWAP line. RSI is above 50. I see this as an excellent long trade setup given that other sectors may be cooling off there may be plenty of money looking for a new home. The volume indicator shows steadily rising volumes. The stop loss is the line of one standard deviation below the the mean VWAP while the target is the even dollar immediately below the ceiling of the supply / resistance zone of the Luxalgo indicator. This seems to be a reasonable position to diversify from techonolgy which seems to be a bit overextended.
NYSE:CATLong
by AwesomeAvani
Is DISH ready to dish out some profits?On the weekly chart, DISH has been in a steady decline for over a year and is now on sale for 20% of the asking price a year ago. It is sitting on the long term support zone and has passed over the POC line of the volume profile putting buyers in control. The red doji candle followed by the green doji candle is the capitulation of the bottom. Volume in 2023 has steadily and persistently grown compared with 2022. The accumulation/distribution curve slope has finally approached zero to suggest a price action reversal . I will take a long trade early and beon the leading edge of the uptrend after noting a 15% breakout to kick off the month of June.
DLong
by AwesomeAvani
Is AMC setting up to go long?On the 15 minute chart, AMC is in deep vundervalued territory between one and two standard deviations below the mean VWAP band. IT is near to and abouve to cross over the central POC line of the volume profile. It is the price area where the highest volumes of trading have occurred. The zero-lag MACD shows a buy signal with a K and D line intersection under a green histogram while the RSI Ichimoku shows relative strength to have risen from the bottom of its upward-sloping regression channel and over the 50 value. Overall I see a potential setup here for a breakout. It might be the best time to get a ride on a rocket is before the launch. FOMO riders typically are disappointed. I will take a long trade with 1/4 my usual risk and Que Sera Sera.
NYSE:AMCLong
by AwesomeAvani
1