Short term swing trade opportunity! Price target: $5.38.
Having fallen through the red line, to me this is screaming "capitulation" and could be the beginning of a new market cycle. I'm predicting a re-test of the $5.38 level and if it is a healthy trend, could go much higher. This is not an emotional prediction. I have been out of this stock for a year now. It...
I had been calling $3 and $4 for a bottom on this one months ago and I've posted about it here on Tradingview. And now I think it's finally time to go long. I don't have any money in this one but I am strongly considering it right now.
I like to do these "gesture drawing" lines. You can probably find really similar lines with complicated maths, but these are not meant to be precise. The horizontal lines are just support and resistance levels. The lines slanted down are bearish trend lines, the lines slanted up obviously are the bullish trend lines. The purpose of doing this is simply another way...
I think one of the most important things in trading is to realize what stage of the market cycle you are in. I got in on HYLN at $20 and I got out at $53. A friend of mine shamed me for "pannick selling" so I bought back in and got out again finally at $43. The 3 descending lines are simply projections. The middle line, the thick red dotted line, is the most...
After passing along below the convergence point (where the 3 angled lines meet), testing the sub-$8 level 3 times finally fell momentarily below the $7 mark. In a simple view, this means that the floor has been broken and capitulation has occurred. We have now passed through 2 of the 3 converging lines. The remaining line represents the strongest psychological...
This is where we make our stand in the next battle, metaphorically. Do your own research and make your own conclusions but I've concluded that retail holds enough of this stock to cause massive support at this level. Incoming early 2022.
You could project the smaller circle up to the size of the larger pattern and if it were going to behave proportionally (so far it has) then it might just more or less trade sideways (15% swings) until finally breaking out again around... late Feb 2022
There are muliple forces pushing down right now... the purple line and both moving averages (7 d and 21 d). However, check out my other idea... bearish doesn't mean catostrophic.
Looks like the purple line is pounding down on the stock, squeezing it down. I am anticipating either
1: Price will break the purple squeeze this week and form a strong floor.
2: Purple line is going to reject and price will drop to the $4 range to re-test purple line in a couple weeks.
You can really see the suppressing power of the purple line here. It squeezed and it broke out, looks to me like it's forming a good floor. My swing target would be around the $6.00 range. It is possible it could go higher if there is enough momentum. The RSI is stalling. Looking for the RSI to choose a direction.
As you can see, price action has cleared the famous purple line. And it looks to me like a really good setup right now. But do your own research, find what the bears are saying as well. This is not financial advice.
The purple line is doing WORK on this one. It's gonna break through it eventually. Once it does I'm predicting a large move upward, probably in the same month.
I'm showing this cart on the weekly time frame to explain what it is visually. Most of the things you already know about "support" and "resistance" apply. On the 4 hour chart the price has also found support on the SMA line. Crossing the purple line is bullish. The question is, will it 2x? 3? 30x?
cheers.
The RSI isn't looking so hot.
The MACD isn't looking so great.
But SNPR is very close to crossing a psychological threshold that could bring it into the next bull cycle from an emotional perspective. The thick red dashed line is crucial. The blue SMA line is about to cross. I won't start telling nana to buy until I start to see candle bodies close above the SMA...
Slight pullback today around 1.3% so far. It looks like it is respecting the downward sloping red line. It could dump further before breaking through. I'm already fully loaded on this stock, but if I weren't I would wait for it to break through that red line before buying. If it continues to react negatively to that line (and the SMA) then it could be due for a...
AMC price being below the SMA and the thick red line doesn't bode well for me. It needs more buyers. Perhaps that big fight this weekend could surge the price on Monday. If so, I think it will uphold the trend. If not, could be selling for a discount in a couple weeks.
The sloping dotted red line is key. It's looking like it will either pull back slightly, or just keep plowing through... keep in mind this is the monthly chart.
