WEEKLY CHART
This is a classic falling wedge pattern! (I'm a little late to the party.)
- Strong volume
- Break above $107.10 (break above 50MA) should confirm a continuation of the bullish trend.
- 50MA could create some resistance around $101-$103.
I like Z $120 Call 1/21/22. I'm already in. (avg. $2.40)
WEEKLY CHART
- Cup and Handle pattern. The handle needs stay above this level.
- Needs to bounce around $25.40. (.65 or .618 fib level)
- Zacks Investment Research Upgrades Maxar Technologies to Buy. (3 weeks ago)
- NGA Awards Maxar With G-EGD Contract Renewal For Mission-Ready Satellite Imagery (Valued at $44 million. This is the second of three option years...
- Marijuana Sector is still in a downtrend - Bearish.
- At an important level of support...could bounce and climb to $27.50 before rejecting and continuing the downtrend (unless marijuana is legalized).
- Watching for bullish volume but don't hold your breathe.
- Expecting a reversal as soon as marijuana is legalized.
Recommendation:
- Scalps / Daytrades
-...
- Currently in a downtrend on the daily chart (50MA below 200MA) but still in an uptrend on the weekly chart (50MA above 200MA).
- Support near 54.80.
- CAUTION: $10 gap below (between $44.33-$53). CHGG could fall through support near 54.80 and attempt to close the gap near $44.33.
- Earnings on Nov. 1st. Could go either way... 50/50.
6-10 Week Outlook: Could...
I like CHPT!
Tomorrow's daily candle should show us what we need to see. It should bounce on this support and/or consolidate for a few weeks before making a bullish move.
Consider 12/17/2021 Calls.
Stop Loss: $19
Profit Target: $25 (Aggressive: $26.60)
If it breaks resistance, I could see CHPT dropping near the $17 range.
Unpopular Opinion
BA
- Looks weak.
- Needs more good news and less bad news. :rolling_eyes:
- Needs to stay above the moving averages.
- Could drop to $202
- Worse: Could drop to $192.65
- Worst: Could drop to close the gap near $158.10 (Market would literally have to crash. Seems less likely.)
I'm not posting this to discourage...just keep your eyes open. BA...
ROKU bounced again and it had strong bullish volume today.
- Strong earnings (it's just now recovering after dropping on good ER)
- Needs to break above 50MA and 200MA
Also, it WAS forming a "cup and handle"pattern but it retraced back more than half of the cup. Not the ideal C&H pattern.
Still worth the trade if tomorrow and Friday can hold the $351.50 level.
I'm expecting bullish momentum this week.
Pros:
- Potential bounce off the 200MA
- Great ER
- Bullish Divergence forming on the hourly chart
Cons:
- Potential "Double Top" pattern
- Strong Bearish Weekly and Monthly candles
- Handle is extending more than 50% of the cup. This may break your rule regarding this pattern.
A bullish bounce, if strong enough,...
I am pissed...
I was watching ROKU for 2 months, was lulled to sleep and stopped watching it. I made 5 mistakes:
1. Lost interest in the trade and got impatient;
2. Failed to play the "descending triangle" breakout;
3. Failed to play the handle down;
4. Failed to size into calls on the breakout that happened today; and
5.I forgot that ER was next...
I absolutely hate this company.
- Moving averages suggest bullish trend.
- 3rd attempt at major resistance.
- Doji Candle formed = change in trend/momentum.
- "Inside Day" pattern formed = Suggesting a continuation of the current trend. In this situation, it should continue the uptrend for a short period of time until a new pattern/confluence forms.
- However,...
Boeing received good news, "Boeing Max Edges Toward China Return as Test Flights Near."
- 20MA & 50MA above the 200MA.
- Bullish Engulfing pattern on Thursday (7/8/21) w/ strong bullish volume.
- Bounce off of Symmetrical support. Could revisit 200MA (yellow line) to test a bounce if bullish momentum is short lived.
However, I am uneasy about the market in...
