Otradehouse

Otradehouse

Since fall of 2020 financials sector has been one of the leading drivers behind SPY run. JPM one of top stocks in finance sector has been on a tear as well. In Nov price finally broke multi year long resistance around $117. Typically violated resistance levels are retested and act as a support. Worth noting 200 weekly MA is getting close to that level. Will...

Otradehouse

XLF broke out of multi year resistance level at $29~ After multiple failed attempts. Typically resistance levels become support zones after prices goes thru them. I’m watching current trend for any weakness that could indicate possible move to retest $29. On weekly chart PPO EMAs have crossed, but week is not over yet. It’s 3rd time this year this cross...

Otradehouse

I am seeing significant downside in TSLA. I have mentioned sub $500 price levels in my other posts, which at this point seems near by. This might come as a shock for TSLA fans, but I am starting eyeing as far as $250 and $180 price levels. This would involve 25% +/- 5% decline in overall market. Current chart shows TSLA/JPM ratio, which printed Head and...

Otradehouse

AAPL is looking to break a neck line of the head and shoulders pattern. If/when it does, price will head to $95 to fill the gap. Considering AAPL’s size, this would affect the whole market, hence my prior posts on SPY pullback, sub $500 in Tesla, downside in BTC and ETH. Essentially beta of any stock can be applied to it’s price to arrive at possible downside....

Otradehouse

Home Depot stock printed what looks like head and shoulders formation on daily chart with divergence with PPO and long doji as a head. Can it break neckline? It’s tying today. If price breaks down, logical price target should be around $285

Otradehouse

Chart highlights similarities between ETH 2021 and SPY 2008, which are listed in details in previous post. timeframe, scale, % change are completely different between two charts. What am I watching? 1. 50 Daily MA. Is price going to close above it and above first orange trend line? If so, these two charts start to vastly diverge, and these analysis can be...

Otradehouse

I noticed similarities between S&P500 Chart during 2003-2009 and current chart of ETH. This doesn’t necessarily mean they are identical or that ETH will definitely follow SPX footsteps, but it might be worthwhile to keep an eye on it. 1. 2003-04 Price accelerates 2. 2004-2007 Price climbs in defined channel. During this time FED raised rates multiple times,...

Otradehouse

At the moment monthly chart looks very bearish. After 7 straight green candles, May candle closed as a doji with very long wicks on both sides. This indicates indecision within market participants. June candle opened just below May close and is heading down at the moment. PPO is turning down as well. Could price turn around and head north? It’s possible, but...

Otradehouse

Breakout to the upside signals bounce to $43K-$52K range. Downside described in my previous post.

Otradehouse

Price formed what looks like either triangle or pennant. With top of it being held by strong resistance of 200 daily MA. Either way extremely bearish set up. If this is symmetrical triangle then price target would be about $22K - height of triangle ($12K) subtracted from expected breakout level ($34K). But this set up is very short timeframe to typically be...

Otradehouse

2 hours chart is looking great. Price broke 50 moving average yesterday and is retesting it today. We could expect another retest of 50 MA (not a must), and then going up to $660 where 200 MA resides. By the time price gets there 200 MA could decrease to $650, but $660, $666, $669 price pints have acted as support and resistance over last few months so many times...

Otradehouse

Spotted divergence between PPO on 15 min chart, reasonable to expect low $600 price point shortly here.

Otradehouse

On the market open price briefly tried to go down, but rebounded within minutes. On hourly chart price received support at 50 MA, and went up from there. $600 level was a breaking point in my view, as mentioned in prior post. Break above this level signals a decent rebound north. I’m expecting $660ish to be tested first (50 DMA), and then likely push to $700, or...

Otradehouse

30 minutes chart is showing a possible head and shoulders set up. Currently price is establishing a neck. This would suggest we can expect slight pullback into $34K ish area, where right shoulder should form. If this set up works out as it supposed to, minimum price target would be above $40k (closer to &41k). Im still seeing sub $20K price, but this set up...

Otradehouse

Price did try to test 200 DMA, but did not quite reach there. While I still believe $1400-1550 level will be reached, and eventually $1100-$1200, for now we are likely looking at a rebound.

Otradehouse

Short term price target of $1900 reached. Typically I would expect a bounce back to $2300-2700, but this chart looks so weak, 200 daily moving average is at $1570, plus 2018 highs are at about $1400. This makes me lean towards further drop in price. Expecting $1400-$1570 to be reached a soon.

Otradehouse

15 minutes chart formed triangle. If price breaks to the downside, it would reasonably be to expect around $1900 price point, a retest of recent lows. If upper resistance of the triangle is broken to the upside, the set up would become invalid. In that case I would still watch out for a rising wedge to be formed. This is not financial, investing, or trading advise.

Otradehouse

Not sure why, my last post was removed, and I’m not retyping all of my analysis again. Long story short expecting price to reach at least $536 on May 25th (+/- 1 day), which currently is 50 MA on weekly chart and also just below March lows. From there if 50 MA holds rebound to $700 is likely. This is not financial, investing, or trading advise.