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Wedgebreakout

EYEG Wedge Breakout + MACD CrossPrice consolidating atop the 200 SMA, and recently the 50 SMA. MACD bull cross, and RSI finding strong support on top of the 50 EMA of the RSI convey upside momentum bias (I find the 50 EMA on the 14 RSI to be very informative, I recommend you try it for yourself). I am looking for price to stay supported by 5 day SMA and I will look to buy the wedge breakout to the upside. The $4.80 level that has been local support is also a .786 retracement of the move off the Aug '19 lows to the Dec '19 highs. As usual, try to get in on the post breakout pullback but if volume is strong I'll probably just jump in. Minimum target is $6.50, an area I think is key resistance although the measured target given the size of the wedge is +$8.00.
NASDAQ:EYEGLong
by ETrades1
MU Long, Using "MM_SMA_Swing" to find trading opportunity Add "MM_SMA_Swing" with input: Show SMA(50), Dev (1%) Add EMA(144) Draw trend lines, Verify the price action: 1. Wedge breakout to up side, 2. Pull back to re-test the trend line Entry: 47 Stop: 45; when trend line break, also Below EMA144 and SMA50 Target1: 53; risk/reward=1:3 Target2: 58; risk/reward=1:5 This is a trading school homework. I need few months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
NASDAQ:MULong
by PlanTradePlanMM
XLM/USD on verge of potentially breaking year-long resistanceContext Introduction: XLM/USD has been caught within a descending wedge (bullish) for a bit over a year now. With Black Thursday's crash, bears really overextended themselves and even managed to temporarily break this wedge's support. However, a quick rebound helped regain the validity of the support. Since bears overextended themselves and were rejected, XLM/USD has now managed to reach the resistance of the descending wedge, where it has been consolidating for approximately a month now. Consolidating so close to such a significant resistance without a significant rejection (relative to the range of the descending wedge) for such a long period of time is allowing XLM/USD to gather momentum to attempt a strong break of the resistance. Additionally, XLM has been trading within an ascending channel since Black Thursday's crash and is now near the support of the channel, allowing for room for growth relative to this channel. The support of this channel and the resistance of the wedge form a symmetrical triangle (bullish). What do the technical indicators tell us? (Daily Chart): The MACD has been below zero for approximately 20 days now. Given that MACD is a lagging indicator and with today's rise, it is likely to cross over 0 soon. Additionally, it already established a higher low (reduced probability of a re-dip). With the MACD signaling a potential crossover soon and its extended time below 0, this increases the probability of an upside break of the wedge's resistance. The RSI had been stuck in a downtrend ever since the start of the wedge that seems to have ended after Black Thursday's crash. We are now seeing higher lows and higher highs on the RSI. Additionally, the RSI barely managed to go below 50 during this recent consolidation, and has now risen to near 60. This shows that the bears were unable to garner significant enough strength to pull XLM away from the resistance. The RSI also signals room for growth. Potential Risks: If XLM/USD is strongly rejected at this resistance, watch out for a loss of support near horizontal support at ~$0.062. If such occurs, the next significant support lies at the 200D SMA (currently at ~$0.057) followed by another horizontal support level at ~$0.053. If this level is lost, watch out for levels near ~$0.04. At this point, if a low was established an inverse head and shoulders pattern could come into play on the daily timeframe, allowing a breakout of the wedge after such. Likely Outcome: Given the primarily bullish indications above, I predict a break of the descending wedge's resistance soon. If this resistance is decisively broken, expect a potential test of support (which very conveniently lines up with the ascending channel's support) at previous resistance before continuation. Potential entry: Upon successful test for support of rising wedge (~$0.07).
COINBASE:XLMUSDLong
by usubzero
RIOT Falling Wedge - Possible BreakoutWEEKLY PRICE CHART - PRICE ACTION BEFORE AND AFTER BITCOIN HALVING 2016/2020 As we can see from the chart there is a falling wedge forming from around mid 2018. In the near future in going to breakout and have the most possibilities to breakout on the upside following the post-halving bitcoin price action in the mid and long term that is definitely bullish. CHART - The blue marks, signs the main resistance/support levels in the pre-halving price action. - The orange vertical lines are the dates of the bitcoin halving at 2016 and 2020. SCENARIOS 1. The falling wedge is most possible generally to breakout to the upside. In the short term is gonna break, it is near the end. 2. The bitcoin halving is one day and of course in the short term there is a lot of sellouts and dumps that is logical but in the short and long term is always bullish. 3.This company is so close related to the bitcoin price and it out of the few company listed on NASDAQ that working with blockchain space. So i think i the mid and long term is gonna be bullish. This is just my opinion, its not an financial or trading advice. Each person must do its own research before investing in the market.
NASDAQ:RIOTLong
by we_axolotl