In the middle of a COVID-19 fueled market rout, I'm attempting to chart AMD's path toward recovery using price action. As circled, I'm taking a guess and saying price will converge at around $42 in the near future, then potentially catch an upswing to the next upper level at $48. Of course, predictions are near impossible in such a news-driven environment. But...
AMD" stock has been on a tear recently on the heels of solid business fundamentals and competitiveness with Intel. This analysis attempts to find some technical indicators to complement this run-up and make a call on where the stock's heading next. According to pure charting, the next level of confluence I see is ~$46/share in about 9 days, which represents a 5%...
As everyone knows, the price of bitcoin has soared to meteoric heights recently. While I won't try to predict where it's going to go with this post, I wanted to call attention to how well a pitchfork structure described price action before the run-up (from mid-July to late November).
1. After points 1 and 2 were established, price gravitated and consolidated...
I see EUR/USD dropping to the median line over the next week. The pitchfork is constructed with a local top, with 3 points materializing already. Support lines from recent price action are part of the chart as well, but don't have much relevant interaction. Additionally, MACD is crossing down, which further supports my case.
The downward sloping action/reaction channel has been broken with a favorable earnings report that caused price to gap far above the top of the channel. It's too early to tell if this downtrend has been broken. Price seems to have found resistance at an old Feb 2015 high of 9.61 and is now consolidating at this level. A break above this level would be good for...
Short term sell on EUR/USD. Hagopian crash off of upward sloping median structure into ML touch for downward sloping structure. Bounce into support turned resistance with long wicks makes the case for a further price drop with a short-term target of 1.05.
Read an interesting article about Bill Ackman/Pershing's big short on HLF, so I was curious about what the technicals had to say. I think we'll see congestion between $38 and $45, with price eventually retesting the November high of $56. These are some big levels, so I think probabilities are against me.
1) Trend failure at $10.66 on 2/27/15
2) Gap below 50% Fibonacci on 3/6/15
3) Gap below trigger line on 3/6/15
Break below the lower MLH could trigger a drop to the $5 level.
My friend has been a (very) happy owner of Apple stock for a while, so i thought I'd try my hand at predicting next week's price action on the daily chart. Things might get a little volatile with the Apple Watch announcement tomorrow (3/9), but action should be contained by the upward sloping median line structure.
No particularly strong buy/sell...
