Brian_Nibley

Brian_Nibley

In this chart, we can see the ascending channel that LTC/USD has established since December 18th, 2019. There's still a long way to fall before the pattern is broke, which I believe is unlikely. However, the RSI has fallen below 40, even though LTC is clearly not oversold, as it's forming a short-term top. The RSI should be much higher. This kind of divergence...

Brian_Nibley

ETH/USD is showing the most oversold conditions of the year according to the RSI. Long-term support is being tested at $150. A breach of this level could open the way for a fall all the way down to $125. The trading pair is at the bottom of a descending channel. Again, breaking beneath it will be bearish, and traders will begin looking for signs of a bottom soon...

Brian_Nibley

The 60-day EMA has crossed above the 180-day EMA during an uptrend, which tends to be a very bullish indicator . The MACD also looks bullish but is signaling a potential stall to the rally or a partial pullback in the near-term. This has been confirmed by the start of Friday's trading. Volume has been picking up, and mostly on the buy-side. Previous...

Brian_Nibley

WESDOME GOLD MINES LTD has excellent fundamentals with a 17% profit margin and almost no debt. The stock has pulled back from its all-time high of $5.80 and looks to still be in good shape overall. Bollinger bands are tightening, 60-day EMA is flattening out, and the MACD looks very bullish, having crossed above the zero line with volume starting to pick up....

Brian_Nibley

The RSI is signaling oversold conditions at just over 30. The stock is hovering near multi-year lows despite having done well fundamentally. There could be a rally in the cards in the near future. If long-term support is broken amid a sustained selloff, however, there might still be some pain before bottoming out. Closing well below $15 for a few weeks in a...

Brian_Nibley

OSTK has been inundated with negative news since founder and former CEO Patrick Byrne stepped down in August. The stock has seen some intense volatility. Shorting the stock has proven profitable recently. There is still time to be short, despite the heavy losses already sustained. On September 16th, OSTK plunged through its 9-Day MA and has been in freefall...

Brian_Nibley

AT&T stock has been rising rapidly after activist investor Elliot Management announced a $3.2 billion stake in the company on September 9th. The RSI has crossed into very oversold territory while the ADI is signaling only a moderately strong trend. At the same time, the stock has moved above its 9-day moving average, which often signals a short-term correction....

Brian_Nibley

Cannabis stocks have corrected dramatically despite strong fundamentals across the industry. Looking at the MJ ETF gives some indication of the oversold state of the broader cannabis market. The RSI is low and the ETF is currently trading beneath its 9-day moving average. Almost every single time this has happened in the past, the ETF has bounced back. There's...

Brian_Nibley

M2 money velocity is considered the pulse of an economy. This metric refers to the number of times a unit of currency changes hands between people and businesses. As you can see, the velocity of money has been nosediving for decades. This is the story of the real economy, not the financially engineered stock market. Notice that as interest rates began to...

Brian_Nibley

Traders are watching for psychological support at the $9,500 level to maintain the bull market. But 9,180 is the major support level to be wary of. A breach below this price accompanied by a surge in volume could signal a significant downtrend. Major resistance points are at the Fibonnaci retracement levels of $12,00 and $13,700. Failure to break through...

Brian_Nibley

Looking at the 3-month chart, Bollinger Bands are mostly wide apart, the RSI is hovering right around 50 at present, and trading has remained in a tight range of 1.70 – 2.00 for several months. This indicates the stock is likely in a period of consolidation. The MACD appears to have bottomed out, having crossed beneath the zero line recently and beginning to move...