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NFLX continuation weakness after earningsFyndamentals: Netflix stock plunged down after earnings report as the leader of streaming video companies offered weak guidancefor subscribers growth. But it is not the only reason. The arrival of Prime Video as a more direct competitor, as well as Amazon Prime can create some challenges for Netflix. Technicals: The price gapped down below 200 EMA and holds near the bottom - the sign of weakness. It failed to reverse as $IBM did. And may continue its weakness, especially if market will bounce off from resistance (now, it is curling down). Trade Management: With today's candle, it broke down support at $94.20 (which was an entry) with the STOP above $97.40 and TARGET (next important support) at $88. The risk/reward ratio is 1:2, that makes tjis trade attractive.
NASDAQ:NFLXShort
by andrew.berg
CERN under pressure + relative weaknessOverview CERN continues to underperform. Overall chart is very weak, below all moving averages. And It feels like stock can accelarate to the downside when futures will find resistance. Today, it dropped down on big volume and closed right on $50 support, which acts like strong psychological level. Trade- and Risk-management Break below $50 will add some fule. This could be my netry short with stop above $52.17 and target at $46 - support from weekly chart.
CShort
by andrew.berg
AUD/USD Analysis 30.04.2015Background: Aud/Usd Remains in a downtrend but we found support @0.75600 ish level and price found balance, we formed a minor range between 0.7560 support and 0.7914 resistance , where price broke thru resistance but price traded back into the broken resistance, however its not over for the bulls as the up channel is still intact and if we find buyers we may head back aboove to retest the current high @0.80600 Signs of Strenght: price found support broken resistance up channel Signs of Weakness: Downtrend broken resistance didnt turned support @ retest Key Levels above current price: 80750 82500 79800 Key Levels below current price: 78180 77200 75600 sidenote: A Trading channel is nothing but a diagonal trading range where the upper limits is the oversold level and the lower limits is the oversold level , whereas the mean in this case rising represents fair value. and as it rises so does demand , if price fails to take out the lower limits of the channel and we break the RED trendlines this indicates that demand is in charge and any higher low can be used as an entry signal for a long position
by Invezted
AUDUSD 4 HOUR SHORTPrice bounced off the 0.236 fib several times forming a evening star and then several bearish pinbar candlestick patterns in a row. This is indicating selling pressure, we could see price advance to the downside soon. My preference is a rally up to the 0.5 fib in confluence with some structure but advancing up to that level is looking less likely. RBA meeting on Tuesday so id advise to get in before the meeting because im confident RBA will be dovish which will weaken AUD causing AUDUSD to plummet
Short
by remelthomas
Selling a weak EUR/USDIn its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or 1.2500. Entry – below today’s reversal bar Stop – above today’s reversal bar Target – once triggered, will let the trade run for price to rendezvous at 1.2000 where it’s been before Reverse set up of the same nature on USD/CHF.
Short
by amanpaulbhogal
EURJPY the battle of the weakening currencies!After reaching a multiyear high last Thursday, with an RSI indicating overbought and a shooting star candle indicating an imminent drop in price, the dovish tone of Draghi´s language Friday morning immediately weakened the €, resulting in a significant drop for this pair. It fell over 100 pips during his speech and about the same amount during the rest of the day! According to Draghi, risks going forward are still substantial and more needs to be done to raise inflation fast. The question before us: is this pullback temporary and will the market (after hitting the obvious support level) be looking for buyers OR will the support be broken and is more downside to come next week? On one hand more weakness is to be expected for the Yen, due to the ongoing monetary easing by the BoJ. On the other hand more weakness is to be expected for the Euro, due to the talk of driving up inflation fast by the ECB. My advise is to not chase a trade for this pair and to wait for now. Monday (24) is a bank holiday in Japan, Tuesday (25) morning Kuroda will speak at an international financial forum, potentially giving a new impulse to this pair. If a supportive candle will confirm the support level, I will be looking to buy it again. If however no support is found and the down side continues, I would short it first.
by JazzForex
DDD showing weaknessIf you're looking for a sell opportunity then DDD looks promising. The decline has been steep since the high (which didn't quite touch $100) at the end of 2013. On the weekly chart price looks almost certain to end the week below the 200ma. If this does occur then a shorting opportunity may present itself (although we should wait one more trading day just to be certain). On the daily chart there was a large reversal candle at the 200dma (1st July) since which price has continued it's bearish move. A further gap down (on higher volume on 22nd October) gave yet more weight to a continued decline. There could be resistance at the $28-$30 zone but, if you like to short in an overall bull market, DDD should be added to your watchlist.
NYSE:DDDShort
by iAnneTrader
CMG Cup&Handle pattern, potential gap coveringChipotle Mexican Grill formed bearish pattern called Cup&Handle with lower high (reversal candle) on 6th of October. Important level of support was at $649 and was broken yesterday with conviction. Combine it with $SPX break down of 200 EMA first time since long time and that is how you get in on the right side. Risk Management: ENTRY was at $649 break. After 3 outside down days it feels a bit oversold. Maybe, wait for a bounce to fill with better price. STOP above $660 makes sence if sellers want to keep pressure and momentum. Then we have $682 reversal point. TARGET: as there is no visible support below previous support I will put my target at $609 which was resistance before gap up on earnings.
NYSE:CMGShort
by andrew.berg
Possible H&S: another opportunity to short USDCAD As stated in a previous idea () this pair has already been rejected on major daily structure. Now is setting up a possible head and shoulder pattern on lower timeframe (4h). Many pin bars formed on Friday showing price rejection below left shoulder level of the formation. Action: On Monday look for price to not gap nor open above pin bar's tails and sell at market. Target 1 at neckline, next profit taking zones on relevant structures looking left
Short
by simontien
CSCO Head&ShouldersCisco is forming bearish reversal pattern with potential Right shoulder near $25.20. Previously, I was bullish on this stock (check my ideas in the links below) but sentiment is constantly changing and point to reduce risk was at $25.60 on 31 of July when upper-level base was broken. Now, price broke down trend up and trading on its 100 EMA that acted like support in the mid of August. Break and close below 100 EMA will trigger my SHORT entry with risk above $25.00. Also, I switch my bias from neutral to negative on overall market, as S&P looks broken (doesn't mean its short especially when oscillators are oversold below -75).
NASDAQ:CSCOShort
by andrew.berg
VZ looks ready for another down leg Telecoms caught some weakness after earnings release. $51.50 was important resistance above which buyers failed to hold eventhough company released numbers higher than expectations. Now, we have tight consolidation near lows with resistance at $49.15. Break below consolidation support $48.50 will trigger Short entry and will open doors to $46 major support. If market will enter into correction mode (complicated geopolitical situation combined with potential rate hike) that will add arguments to this idea. Risk/Reward 1:4 make this idea attractive with high-winning rate.
NYSE:VZShort
by andrew.berg
SLB sentiment changing to bearishDuring this recent move up in S&P (100 handles from the last bottom) Oil&Gas ($XOP) stayed one of the weakest sectors and specifically shares of Slumberger. After exhausted move up on the end of June, it entered into correction and broke down its 50 EMA that was in control since the beginning of 2014. Now, sellers keep preassure and hold resistance at $110 which could be stop line for short position. My approach is active trade management. Initiate tier 1 now, then add on break down of $107.50 gap point, then add if it will close and hold below $105.39 with target at $102 - reasonable level, earlier it acted like resistance and now should act like support.
NYSE:SLBShort
by andrew.berg
NOW get short nowThe enterprise software company's Q2 earnings met analyst estimates, and ServiceNow raised its revenue forecast. But ServiceNow stock was down. Technically we had wide wedge that gave good buying opportunities with reversal candles (check my long ideas in the links below). But fow now, stock resolved its indecision pattern to downside on increasing volume. Combine it with overall market that entered into correction and that is how you get high-winning trade. I like how it holds near lows of its recent move down, while market bounced off a bit from lows - relative weakness. Plus well defined stop above $56.25, as 8 EMA is in control with target at $48.70, then $46.00 make yhis trade attractive from Risk/Reward point of view.
NYSE:NOW
by andrew.berg
NVDA rest before continuation move downFundamentals: Nvidia Corp posted higher fiscal second-quarter earningsyesterday after market close and gave a forecast for current-quarter revenues that exceeded Wall Street's estimates, sending shares of the graphics chipmaker higher in after-hours trade. The outlook in the PC industry has brightened following news that PC shipments were flat in the June quarter, a better-than-expected result. After struggling to compete against larger chipmakers like Qualcomm in smartphones and tablets, Nvidia has increased its focus on using its Tegra chips to power entertainment and navigation systems in cars made by companies including Volkswagen's Audi, BMW and Tesla. Technicals: From technicals perspective chart looks broken after it found supply zone at $19.50-.75, then broke important levels of support. Now, price is sitting on its 200 EMA forming nice, tight, lower-level range. I will be watching closely on open if buyers have enough power to hold after-hours gains. Hold below $18.23 and drop back below $18.00 will trigger my entry short. I use active trade management system with tiers. I will add below $17.30 and it will open doors to the next potential buying area/target at $16.00-.43. Market: continue to show us wekaness and this lower range become more defining. I expect to see quick move down to $1,895-$1,900 in $S&P500. So, it will keep preassure on weak stocks.
NASDAQ:NVDAShort
by andrew.berg
SPX levels and plan Recently, i posted chart where I mentioned that i am not going to be too bearish untill break down og this intermidiate trend line. You need to be prepared for different scenarios with stocks that are on your long/short watch list. When this scenario came into play, plenty of short opportunities emerged (check some of them in the link below). I still don't think that this 2 days selloff is the end of the world. If bears want to keep control, they should defend $1,937 (important), then we have resistance zone a t$1,949-56. I will be watching for tactical pullback, as it feels a bit oversold here, trading with stock that show us relative strength. Then short opportunities ("h"-pattern) on pullbacks from resistance zone and moving averages.
SP:SPX
by andrew.berg