Safe_Trades

Safe_Trades Updated 

If you read my previous analysis you would know ZOOM is in a very weak position here. Everything points to more downside coming. The technicals are the same as my previous analysis so you can check that one out (link below). The important thing here is that ZOOM broke below the rounded top neckline and is failing to move back up. I also added the 200SMA and the...

Safe_Trades Updated 

BLINK fell almost 6% this morning. It is now sitting on the price support and the trendline support. This may be a good time to start a position or add to one if you are already in. This is as safe an entry as it gets because you can exit the trade if the price breaks below the support with volume and trendline with volume. MACD is crossing bullish and ADX still...

Safe_Trades Updated 

Ever since that crazy drop MRSN has been rangebound. As you can see, the channel can be split into two smaller channels. This is the ideal scenario to buy the bottom and sell the top. The Stochastic RSI is your best friend in this type of setup. If you are more conservative, wait for the candle to touch support and look for a bullish crossover on the RSI. That is...

Safe_Trades Updated 

The pennant is a continuation pattern (of the previous trend) so PLTR may be looking into a move to the upside sometime soon. The price moved up today and headed against the $26 resistance several times. It even broke above it but was not able to stay above that level. However, we closed the day for the second consecutive time above the 14-ema and 21-ema, which is...

Safe_Trades Updated 

Every time AMZN touched the lower line of the pennant and Stoch RSI was in oversold territory and crossed over bullish the price reacted and moved to the top of the pennant. I am watching closely for a Stoch RSI crossover here, which should send the price up one more time. A breakout and close below the pennant would be bearish. ***If you get anything out of...

Safe_Trades Updated 

Last week LI closed with a hammer candle, which signals reversal if confirmed by the next candle. LI also closed above the resistance trendline. The candle also has more volume than the previous 4 candles, which is very bullish. Despite the loss in the afternoon today LI closed with a strong bullish candle. The candle peaked with 26% gains. There was some selling...

Safe_Trades Updated 

XPEV is still respecting the trendline but hasn't been able to break above the $47.9 resistance. This is creating a squeeze in the price that shows traders' indecision. Other indicators are also flat (although slightly bullish) so not much can be inferred from them: +DI is above -DI but curling down, ADX is flat below 20 (thus not showing signs that a trend is...

Safe_Trades Updated 

TWTR is trading very low on pre-market. The main catalyst for the drop is probably the banning of Trump. Price is now below the 14,21, and 50 emas and getting close to the trendline. MACD curled down, -DI is crossing over +DI and ADX is curling down, showing that the current trend is losing steam. TRADING STRATEGY Long: I am a buyer on the trendline (if it...

Safe_Trades Updated 

SNOW started a reversal after hitting a fib retracement level mid last week, where I called the bottom (see linked chart) and bought some shares. Here is a summary of the current chart and my trading strategy: BUY SIGNALS 1. +DI crossed above -DI (green line above red line) and ADX line (white) is flat but starting to curl up after the drop (signals a trend may...

Safe_Trades

The darling of the pandemic lost a lot of its momentum over the past 40 days or so (vaccines and other prophylactics are certainly major catalysts for the drop). I think ZOOM is still a good stock for the long term but it already lost about 42% from ATH and still looks very weak here. BEARISH SIGNALS 1. Price has been butting against support for several...

Safe_Trades Updated 

As long as BLINK can stay within the channel it should be fine. If it breaks below we may very well re-test some of those moving averages. RSI is in overbought zone but it could be there for a few weeks. Given its recent price action I would be more prone to think BLINK will revisit the top of the channel than break below it. You could buy now with a tight stop...

Safe_Trades

I bought into this stock for a swing trade after the huge drop but was stopped out for minimal loss. I noticed it has been rangebound for a while so I started buying the bottom and selling the top of the channel. Reasonably lucrative so far. It broke outside of the channel so the pattern may have been broken. If it goes back into the channel I will start trading...

Safe_Trades Updated 

On the positive side, TTD is now trading on the long term trendline, which coincides with the .786 fib retracement level. Also, the Stochastic is in oversold territory and curling up. On the negative side, however, the MACD still has a lot of room to go down and TTD is below the three main moving averages on the daily: 14-ema, 21-ema, and 50-ema. The 14-ema...

Safe_Trades Updated 

Despite the recent fall XPEV has been respecting the trendline, which is what you want to see on stocks you own. Although there is some overhead with 14/21 emas and the $45 resistance the RSI and MACD show bullish momentum. This may be a good place to buy (or add more shares) with minimum risk since you can place a stop loss just below the trendline (perhaps...

Safe_Trades Updated 

After breaking above the v-bottom neckline MRSN is now retesting the breakout level for the tenth time after the breakout. Given the fact that the price dropped 40% from the recent highs and that this seems to be a strong support level I am entering a trade tomorrow with a stop loss just below the neckline. Seems to be as safe a play as it gets. ***If you get...

Safe_Trades Updated 

NVIDIA has been trading on a channel for the past couple of months. Today it dropped 5% to the bottom of the channel. Although Stochastic and MACD (not on the chart) are not giving any clear signals, the OBV has been moving up throughout this time, which means interest is high and traders are buying at these levels. I already have a nice amount of shares but I am...

Safe_Trades Updated 

SNOW fell about 37% from ATH, a move that was catalyzed by the H&S break out. It is currently finding support for the 3rd consecutive day on the .786 fib retracement level. I added a few more shares to my position here with a very tight stop loss in case it continues to move down. Stochastic is curling up, which signals a potential change in the trend. Seems to...

Safe_Trades Updated 

MICHAELS (MIK) formed a huge head-and-shoulders-bottom. The formation is on the cusp of breakout. In general, H&S formations are very reliable patterns. There could be failures but for the majority of cases the pattern breaks out as expected (in this case, to the upside). Additionally, there is a breakout of the OBV line that signals bullishness. A couple of...