Jomo_Davis

Jomo_Davis

Inverse Head and Shoulders RKT is still below the neckline of a 3 month inverse head and shoulders. Both variations of the head and shoulders are two of the most popular formations in trading. It attempted a breakout during the week of December 18th, crossing the $22.50 neckline, but rejected & stayed in a downtrend since. The measured move on this pattern gives...

Jomo_Davis

DKNG is currently correcting. Yes, there is a lot to look at here, but just watch the Elliott Wave count and the trendlines. It broke a 2 month uptrend line yesterday, retested, and came back again. It has finished the overall upward Wave 1 move (made of 5 waves), and is now correcting down to one of the 4 green support fibs I've drawn. The 4 supports drawn are...

Jomo_Davis

Connected to my last bullish FB post - inverse H&S. Price target is 282 next week. This could extend to 285 to complete my bullish cycle linked.

Jomo_Davis

FB over the last 4 months has been very simple movement. This is not consistent with my usual TA methods, but it was very easy to see. These are simply peak-to-trough movements. The average move up since the 32% run in the summer (October to now) is 9.84% and the average length of a move is only 13.8 days. The peak is almost always reached by 50% of the way...

Jomo_Davis Updated 

We''ve been tracking this count since last week, and the tech selloff coming into open pushed PYPL into hourly demand, which it respected premarket. Have it on high watch for a move up to $210 in the coming days. The first 1h supply zone is cleared out, and it can be deleted - prices consolidating in that zone have cleared out the sell orders and PYPL should blow...

Jomo_Davis

Been tracking this count since November. Looking for the breakout retest around $219.5, and then a move up as high as $230. A trendline break could invalidate this count (relatively unlikely as count has stayed consistent for the last month). It's an overall long after a brief correction. Alternatively, the correction may be flat, as per the rule of alternation. ...

Jomo_Davis

Gap down today is very good confirmation to me that this plays out. I've had it drawn for about a week. Short down to $240, and i'm already in a bear play (keeping it light and adding on the way down, because market context around BABA tells me the pop will be strong - everyone wants to go long)

Jomo_Davis Updated 

SBUX confirms breakout above 91.40, supply zone break on volume - nice bull count so far. This is the third try at supply zone within the last few weeks, and if we reject somehow, i'm loading calls

Jomo_Davis Updated 

So, this is what I'm looking at on SPY moving forward, and it's currently my most likely scenario. I think the US is headed towards a type of lockdown varying in severity, but i'd bet on it happening. I also believe if Joe Biden wins, his strategy may be to inverse Trump & go into lockdown mode (as American sentiment towards Trump's handling of COVID is majority...

Jomo_Davis Updated 

Handle may see a retest of $338 supply zone, but I'm looking downwards post election. If this does not break my lower trendline, I will build my bull case tomorrow after election. Original Cup and Handle targets hit nicely

Jomo_Davis Updated 

Very simple. Many overlapping, fresh demand zones in here. Easy safe long at $230, for a lot of room up to the gap fill/supply zone at $263

Jomo_Davis

Already had my short term ABC correction wave in play, but this changes a lot for me. AAPL super overextended for the entire month of August all the way up into the 2.382 level. If that had not happened, this correction would've already been over, and we probably would've popped on earnings instead of dumping. But, that's ok, as long as we head down to $95 and...

Jomo_Davis

BYND falls pretty hard when the market does, but I think it's a great long with limited risk right here. If it pops in the next 2 days we should be able to pick up a few percentage points on it, but I don't want it if AMEX:SPY stays red

Jomo_Davis

Looks like we're in the middle of a daily wave 3 on SBUX that I drew last month. Our correction was pretty flat, so I'm conservative on my price targets. Additonally, we want a deep wave 4 pullback on the 30m for a nice move into new highs, completing the daily W3.