NTO trade ideas
Re-exploring NTDOYRe-exploring..
Harmonics -
Bearish Butterfy micro,
Bearish Shark micro,
Bullish Cypher Mico
and Bearish Butterfly Macro
It appears to be in overbought territory (for now) IMO..due for a pullback. The magnitude of the pull back is the wild card. The beginnings of pullback/reversal are nearing around 74-76. The embedded harmonics are in overdrive. Could have several areas of possible re-entry at 68,58,or 50 dollars.If the Cypher bounce is in play we go much lower before a re-entry if the pullback is deep.
HOWEVER, for the DIE HARDS we have seen bearish shark formations pump this stock up over and over and we also have an embedded bearish shark playing out to the upside here.. and if it it dominates it can take us up very quickly to the completion of the macro pattern!
Best case scenario is a bullish bounce from 66-70 to the upside.. and with seasons changing a surge in demand for gaming tech could make this happen and push this upwards more- so do not rule out check up bounce despite the butterfly formation completing. Bearish patterns can have small re-tracements that point price action back to the upside on heavily demanded equities.
With the volatility in the macro market its difficult to project out. So I do have Elliot Wave in here for the 2nd leg of the Macro pattern - with the butterfly terminating on the 5th wave (making the shark call very difficult)...but keep an eye on price action.. if it goes over 74 in the near future its very bullish.
Youll need to scroll out on the chartprice for the Macro Pattern target to be seen. Its early to call the macro.. but we have 3 legs of it already completed on the harmonic Remember this Macro Harmonic could promote a truncation of the price action to the downside, so watch for the resistance pt (red line). Ideally pricing would want to support here- rather than fight this level. Below 67 long term and we want to use some caution for long term outlook.
For deeper pull backs- split the diff on the entry points- and we may see price action slowly decline and consolidate between 68 and 55 with a possible shakeout to 50 before macro pattern resumes. With seasons changing (people staying indoors more) the consolidation may not last long.. and then again it could go for months if this doesnt go the bullish route.
This just what I see for now.
Things are definitely running hot and pulling back across the board. Unemployment up- US Dollar weakening as well. The markets are tightening up and so I have to use more than 1 system for my analysis. We have Gann, Elliot and Harmonics here. Macro markets are slowly squeezing / behaving in tricky fashion for traders. Sets your stops - make those profits!
Leave comments below for other charts. Tips are welcomed!
Cheers!
Nintendo Reaching for all Time Highs - SlowlyOTC:NTDOY Seems to be slowly tracking for previous all time highs of around 78$ a share. I am long over all, however we are coming up on a momentum reversal on the daily as the RSI has crossed downward from oversold territory. MACD is also showing the same. This is my first published idea and would love for you to tear it apart and tell me why.
I think its possible Nintendo will come gently down to test lower support levels before finally moving up and testing all time highs and possibly beyond. We are also on the cusp of a new Console Cycle what with XBOX and Playstation coming out with new consoles. While Nintendo has generated new revenue streams I am not sure what they have in store for Covid Christmas time. Time will tell. I am selling some of my shares now 68-70$ so that I can buy the next potential long term dip while holding the rest for a target of 78 - 82$ for an additional 12% a share from where we are now.
This is not financial advice but the ramblings of an Old Bearded Gamer Guy.
Trade Safe, Stay Safe.
NINTENDO making moves!! Pretty much straight forward. Nintendo has seen 400% gains since its lows... there may be a bit more meat on this bone if the pullback and bullish bounce occurs. Short term- bearish.. Long term- bullish. Looks like a bullish cypher is setting up and I am anticipating the bounce will lead us to complete the other monster bearish patterns to the upside for additional gains. We have a beautiful butterfly and crab formations. These are monster harmonics in play and are for the long term investor - these will take months and years to complete... so time will tell.
*CHEERS WOLF PACK***
NTDOYThe lines are some decent specific levels to enter or exit at, should front run a tad.
The boxes around the levels represent entry/exit zones where anything is suitable if the levels themselves arent used.
Two trade setups within, shorter term and slighter longer timeframe.
The yellow box/levels signify a short term trade entry range. The orange dotted line represents the stoploss to any entry in this yellow range. Entry in the yellow zone should target the purple zone/levels.
The green box/levels signify a slightly longer term trade entry. If price moves below the yellow zone this would be the entry targets. With a red dotted line representing the stop loss relative to these entries. The targets for entry in the green zone are the teal zone above for a longer playing trade. Although entry in the green zone could also take profits at the purple zone as well for a shorter/safer exit in profit.
Entry in the yellow zone could also use the red dotted line as a stoploss if you can swing a riskier stop loss on entry.
Bowser Takes the Castle $NTDOYThe CEO of Nintendo is retiring, leaving Doug Bowser to take the reigns of Nintendo. Keep it on your watchlist as the Megalodon has given us a buy sign!
The Megalodon indicator uses an artificial intelligence, combined with data from over 500 buy setups, and over 2000 indicators to produce extremely accurate buy signals on any and all asset classes!
Hands off my bread! Let's go, Nintendo! The Age of Mar 10 is about to come and Q2 is about to begin! Why do I have a feeling that you will release the new hardware and games the day after Nvidia Reports its earnings!!?
Fundamentally sound.
IP alone is worth a billion dollars.
Handheld market will be back in the full swing w/ the new Mini console!
All indicators point to an oversold company.
The product line is solid; games have a very successful attachment rate; accessories are great additions; movie production swinging in gear, the amusement park in the works, summer Olympics of 2020 and toys toys toys!!
Lets go!
NTDOY crushing through the MA's I like the switch. I never liked the Wii much. Not that that carries any weight, it's just what got me looking at this chart.
So it's been on a decline for awhile. The past month has seen a shift towards bullishness.
What I like particularly in recent developments is the way it crushed through a 200MA, 50MA and 9MA on high buy volume against low sell volume. We've only timidly approached that 200MA a few times over the past year. This would appear different. I've got my eye on 38 here at the moment.
Nintendo Correction OverNintendo finished its ABC correction and has begun a new impulse wave. Breakout above bull flag confirms uptrend. MACD formed a bullish cross over and the Stoch is trending up. RSI is approaching oversold on the daily, so there may be a slight pullback in the near future, but its still < 50 on the weekly. First target is the 78.6% fib, which was a previous support level. This is about $49 - $50. Next is the 100%, ie the previous high, at about $57.
My opinion not financial advice
