XHB broke through an important 77.5 low volume node today and TPX has just been on fire. You might be asking how a mattress company and homebuilders are correlated well I'm playing it as a proxy and potentially one that could outperform the homebuilder index in general. You gotta have mattress for those homes :)
CRM has consolidated for almost 3 weeks, after gapping down on the news it had acquired Slack (WORK). Risk reward ratio is around 3. A potential test of the pre-gap candle lows might be in place before attempting to reach the 50sma, and subsequently the top of the gap. OBV line has tested and is now respecting the line that was made before the gap higher.
In this Tutorial I discuss WFH (Work From Home ETF) and the UBER Stock. These have been recently added to my Blend investing portfolio. BUT I didn't get in them when they were first listed! Instead I discuss, in this video tutorial, how to watch the behaviour and use technical trading knowledge and indicators to add them to your investing portfolio at the right time.
RSI at 90, meaning extreme overbought levels. The lower BB has curled up, and intraday volume has been below-average. If we see a pullback; 20ema will line-up around $21.5, to test a short-term support. I am SHORT until we see some consolidation after this parabolic move. $21.5 could be a good place to enter a position.
Technical analysis From October 19th, we have seen a 26-trading-day downtrend. The second attempt to break the trend was at the 38.2% fibonacci retracement level, which failed. We are now trying to test the same downtrend line (Red arrow), while also testing the 61.8% fibonacci retracement level. The 50sma which is converging with the 50% Fib; which seems to...
ZS has been behaving well inside the uptrend channel drawn. When we touch the upper part of the channel, we see a pullback to the lower segment line. RSI analysis suggests, we have difficulty going above the 70 level, however, the chart remains bullish whenever the RSI has been over the 43 RSI. A break below 40 in the RSI would be short-term bearish. ----->...
We are seeing confluence of support around $120 approximately. Test 1: February high Test 2: Bottom of gap Test 3: 200sma Risk Reward ratio is great, as we can set a stop below the 200sma. RSI is still not oversold on such a drastic down movement.
Since we crossed the 20 exponential moving average, we have tested it many times, to retreat and continue higher. RSI has stayed above 50, showing no sign of strong selling.
+0.02989 in sight. Support at 0.02694 for a rally through 0.05751