OptionsRising

OptionsRising Updated 

Some people use XBI (weekly, daily) to indicate risk-on/off since biotech stocks are generally riskier investments. Going back to the pandemic drop in 2020 (and before), you will see 87 as a resistance area. The market gapped over this when the recovery (market rally) picked up steam. Now here 86-87 is again at the top of a supply zone. Based on other...

OptionsRising Updated 

Blue lines show long term S/R since 2019. Yellow lines show S/R since Aug 2020. Picture a tiger lying in wait for its prey; listen to the sounds but be still until the time is right to pounce. 11th July week saw RSI (14) rise to 48.73. If the downtrend is too strong it could fail lower here, however stochastic and RSI indicate an alternative. Price moves up to...

OptionsRising Updated 

The chart shows my rudimentary understanding of Elliott wave patterns, and I am aware that wrongly applying EWP will ruin trade ideas. Thus I am inviting EWP experts to offer their insight here. Feel free to read my view below and support or correct it with your expertise. Thank you! My blue line shows a 5-wave impulse pattern down, while the gray line shows a...

OptionsRising Updated 

The gray bar on chart shows the resistance band, which was an earlier support. On the daily chart today there is a hammer candle above the 20sma while RSI is up to test 50. A higher trade tomorrow will be bullish, while a close back below the 20sma with RSI below 50 may lend to more downside. On the 30m chart right now there is a possible mini double top. MA's...

OptionsRising Updated 

The red oval is from a previous post when I made a swing put trade. Now price is just sitting above channel. This will provide a good move either back to 110+ or below 100.

OptionsRising Updated 

For now I see a greater technical indication that NFLX turned down from 185.70 and may break the wedge support line to move lower. I am looking at 170, then lower, for downside targets. On stochastic, the 3-candle rejection at horizontal line (June 5-6) also created a %K sell warning (sharp move from +80 to -20). On the daily chart, price has been sideways and...

OptionsRising

Reading charts and ignoring expert commentary - 3800 SPX is critical hold and price has been hovering over it, too close to it, for too long. Put the biases aside - for example that "end of quarter rebalancing will boost stocks - and inspect your charts. If you can make a case for your stock/index to move up AND down tomorrow, based solely on your indicators,...

OptionsRising

Reasons to buy stock, open bullish spread, or long swing calls: > RSI and stochastic both beginning to turn up with short term line crossing over longer term line. > Yellow line shows first target to 64, which is more than double current stock price. > Price is far from 20sma and due for mean reversion. > Over the next few months, if warranted, price could go 3x...

OptionsRising

If GME stays below 132, or if it spikes higher and reverses down back below 130, it will likely move down to 90 area. It recently rejected from 200ma which is why I am leaning bearish. I will look for 10 and 20MA's to turn down and indicators to confirm. If GME gets over 132 and holds (will use 30min and daily charts) then I will not buy puts.

OptionsRising

The white rectangle shows this week's candles. While they look quite different, remember that Bitcoin runs 7 days a week, so the smaller Microstrategy candle includes the gap lower open. More importantly, on a daily closing basis, MSTR has bullish divergence with RSI and is seeing buyers after a green close on Monday (when most stocks were red). RSI and...

OptionsRising

NVDA was bought in a rush at the open and kept going with the markets. I think it will fade down, so I am buying puts. Also with Memorial Day holiday on Monday there may be some profit taking between now and tomorrow. If $SPX holds 4050 resistance then there should be a general pullback in markets. There will be day trade opportunities, and it is likely that...

OptionsRising Updated 

Price has moved above the yellow line and I said I would be interested in calls over 188. However I am skeptical because Bitcoin has been leading tech/equity moves and watching Bitcoin this afternoon gives me pause. It is possible price is doing a "head fake", goes back into consolidation range and then breaks lower. This would get price back down to test...

OptionsRising

Pending home sales were lower than expected. HD will go down further, perhaps below 280, on the next selloff. The yellow bar on chart shows 300-302 resistance. White dot shows how high RSI is, which usually indicates a short term reversal as well (since this is 30min chart). Considering how far price is away from 10/20MA's, and with 30min extreme RSI, I am...

OptionsRising Updated 

Since I am looking for a short term swing trade, I am showing 10/20/50 MA's on this daily chart. Price is in the middle of a regression channel so first price move out of consolidation should be to either end. Yellow ovals show where price stalled at the 50MA and RSI tested 50 twice before failing lower. Considering the upper drop - before price consolidated...

OptionsRising Updated 

Markets could be chopping today to base for an upside rally. 27May calls at 105 and 110 strikes are worth a great reward/risk trade. This stock did not sell off as much as others yesterday and I am looking for buyers to come in with force if markets rally. I really like the daily technicals - RSI 5 is over RSI 14 and stochastics are great for more upside. Chart...

OptionsRising Updated 

I have to post this fast due to market drop right now. BTC is crashing also. FB still has to touch weekly support - will show chart laster. 30min price back below 200sma and it failed at 204-205 resistance. going back to 185, there is still gap to fill lower also.

OptionsRising Updated 

SPY line graph is overlayed on candle chart so you can see the low closes. Blue lines connect highs and lows. Today price is very close to resistance and remains an inside candle. I see volume resistance ~402.50-402.70. What am I watching for a trade? I bought when SPY was over 402.30, with an exit if SPY >402.70. If price goes over Friday's high, I buy...

OptionsRising

I like RSI and stochastic setup on the 30min chart for a move higher. This requires RSI to stay over 50, Bitcoin to move towards/over 32k, and markets generally to see more buying. Directional selling has been high on the daily and there was an island reversal at bottom. This looks promising for price to move out of sideways consolidation (on 30min chart) up...