Madrid

Madrid Wizard

A positive momentum divergence ignited the uptrend channel we see in the gold market. After the drop it had yesterday we saw the support held right at the bottom of the channel, which is a bullish signal. Continuing on this direction a target of 21 is on the radar once the resistance is broken to the upside.

Madrid Wizard

$TSLA is holding strong. We had two very red days recently, and the most it did was to hold at its 250 stronghold. This created a double bottom with positive momentum divergence, a bullish sign. It is heading to test 300 into Earnings. The trade. Enter at 260's level, even if this has already left that area, it is still time, considering a target at 300....

Madrid Wizard

Heading into earnings the technical analysis on TWTR says it has been bouncing above 28, where it found a support after testing 26, where an inverted Head was formed. The momentum indicators show an increasing value, making it a Positive momentum divergence, which is a bullish sign. During the market drops, even though those were severe, TWTR was resilient and...

Madrid Wizard

HL/LH = Consolidation. Still holding 260. This is a strong support, if the closing price holds it may try another leg back to 280. The word of warning comes from the trend support line, which was violated already.

Madrid Wizard

What we just saw was a short covering rally that triggered a lot of stop losses from the bear side. It overextended to reach 300 again to test the main support resistance level. The only way to know this will actually reverse is by retesting the support below the 250 levels. So it's not still time to celebrate. Best case scenario, it will go back to 250-220...

Madrid Wizard

The long 3XX level maintained for months was breached to the bear side. The technology sector today was hammered hard and $TSLA couldn't deal with it. We had a gap up back in March/april 2017. This gap is becoming resistance too. So my forecast for TSLA in the following weeks is once it hits its lower support channel line, it will be bouncing around the 280,...

Madrid Wizard

300 became a Strong S/R Area. If it holds it can bounce between 300-340, and try another leg. If not then do you remember the 280/250/220/200/180 pivots? It all depends on how the 300 S/R behaves.

Madrid Wizard

"Don't sell at the top, sell only if there's no rally after the reaction" ~Jessee Livermore. This market has been buying the dips, which is a rule in an uptrend market until the trend states otherwise. This is what has been happening so far. This market is facing changing circumstances from the time Yellen was the chair woman at the Federal Reserve. ...

Madrid Wizard

The run for Micron for this leg started at 10. It has been a great run and it has gone through the accumulation phases in the accumulation funnel. Each time a target is hit the price corrects. Considering the level the accumulation funnel has reached, it will make this stock look bearish. The target price is 48. Predicting the future is not an exact science...

Madrid Wizard

After trying to break its upper channel resistance level it went to test the support. It's holding support at 9,000, but if this breaks, the next levels to watch are $7,600, $5,800. So far the setup looks Bearish.

Madrid Wizard

The downtrend channel persists since its peak. The main Ribbon was already broken and it's heading south. Let's wait to see how it behaves if this hit its support. If this holds the 600's range level we could expect a rally, if not the next support will be at 440.

Madrid Wizard

Ethereum has behaved like a Bitcoin lager, it has been following the Bitcoin lead. It is still inside a consolidating triangle, but so Bitcoin was, it was not trending like crazy when Bitcoin was already in a frenzy uptrend. My forecast here is that this may as well break down the consolidating triangle, just like Bitcoin and the Ethereum market is going to...

Madrid Wizard

Unfortunately Bitcoin broke its support at 10,000 and 9,000 and for a little while it hit the 7,000 levels. Once the support is broken it means the supply overwhelms the demand and the price drops. At this time the mood is capitulation. The investors are giving up and we can expect more of the same in the following days. Remember Bitcoin is not an...

Madrid Wizard

Bitcoin is at its main support channel line, if this holds then it may start a new rally. So far the indicators say BEARISH, unless the price moves above the moving averages, which is something not happening now, the peaks will still be sold. There are many disgruntled bubble investors who bought with credit card and who put a fortune during the euphoria phase,...

Madrid Wizard

TWTR has double tested the lowest bottom it can reach after it reached the 14 level. It's been trading inside the range 14-19 and trying to break above 19 during the time of an acquisition rumor was running. This time it hasn't needed a rumor to start gaining traction and it's on the upper half of the trading range . It has already passed the Oversold...

Madrid Wizard

We have seen in the previous weeks a lot of chatter and rumors from the media (not from the involved companies) about a possible Twitter acquisition that happened to be just smoke and mirrors. Twitter had reached a low at $13.73, a level where there was no more selling so the indicators started to gain momentum traction. The rumors were spread at a time when...

Madrid Wizard

This market is going nowhere so far in the monthly time frame. It became a trading market not good for growth stock since 2015. Technically it is still inside an uptrend because the indicators are still green and above the zero line, but it doesn't mean it is a strong uptrend like we used to see until 2013-2014, it is rather waning and it has already given us...

Madrid Wizard

At the Upper Channel Resistance level, 220 zone. Possible retracement to retest the 180 level to determine if next is a reversal to the upside or continuation of the downtrend.