$RTX never recovered its high from Feb 21. It's been climbing its way back through a series of ascending channels. Most recently it has been consolidating since June 21 which should make a good base for ATH. It has been building an ascending wedge which has held steady since earnings. As long as it stays in the channel it should grind higher. Breaking out of the...
Since my last post $NVDA has been drifting downward. I adjusted the lower bound to try to accommodate the (up to this point) light weakness. The stock has still broken and back tested the lower bound before going lower. This is not a good sign. I would expect $NVDA to keep drifting lower. The $229.57 price will both fill the gap and start to provide resistance to...
$MRNA is a pandemic stock's pandemic stock. It's been falling back to Earth since Sept 21. It's hard to get clean patterns given how news and sentiment driven the stock is. I drew a channel using the large gap downs in early Nov and drew the lower bound the levels that it bounced off of until very recently. A retest of the lower bound is a possibility then down or...
In a previous idea I had suggested that $GS had broke out of a falling channel and started rising. There wasn't a lot of time to establish a trend but after going sideways since Aug such a long consolidation can lead to quick, large moves. That pattern has been invalidated and it now seems that in the best case there was a backtest of the falling channel upper...
$GS really hasn't done much since Aug of last year. Most recently it has been in a falling channel that started in Nov. This changed with volume starting 17 Dec 21 and broke out of the upper bound 3 Jan 21 making three quick higher lows. The bias for this move will be a higher targeting first the last high of $423. Earnings are coming up soon and that should give...
Another pandemic darling for reasons I don't understand, $CROX has also been working its way down. From the top in Nov 20 through Dec 20 it worked its way through a falling channel which broke down decisively with the rest of growth. It now appears to be consolidating in a bear pennant. You can either use the lower bound from the falling channel (preferred) or...
$BA has been the opposite of a pandemic darling and has been slowly grinding its way from out of the March 20 lows in a series of falling channels in which it currently finds itself. Interestingly the previous two channels were much shorter and volume highs from each channel has been decreasing. This should setup a big move soon. Bias is to break out and continue...
Follow-up from previous post the fake breakdown and bad macro environment have sunk $ALGN even faster than I anticipated. It cut straight through the channel and who knows how low it'll go now.
$SHOP is another pandemic darling that has fallen on rough times lately. However, even during the rise big swings in price are observed. In that sense $SHOP longs better hope that this is March 21 again in which it fell from $1500 to $1000 then made a new high. The macro environment of perceived higher rates won't help. Neither does the fact that the March 21 drop...
Everyone is aware of the $272.5 level being critical for $NVDA. This is part of a larger bull pennant pattern that has been developing since late October. This pattern both in price and volume is running out of room. TA bias would be for a continuation up. This could come first through a fake breakdown to gap fill to $266.90 followed by a rally. Broader index and...
ALGN is another pandemic darling that has been struggling lately. Since topping out it has setup a descending channel which led to a recent breakout and failed backtest taking it back into the channel. Mid-500s should be on deck unless declining volume is suggesting a trend change maybe after it kisses the channel bottom.
