ZenTradesRW

ZenTradesRW Updated 

Bitcoin experiencing a huge short squeeze / lockout rally that is taking a pause at range highs and consolidating under the falling trend line to wear off some near-term overbought conditions (RSI reset). If bulls can keep control, we should hold $38.3K and take a shot at the 200 day shortly. Altcoins likely to rip on the next leg up on Bitcoin. The higher we go,...

ZenTradesRW Updated 

MATIC coiling under resistance on declining volume and getting tight. Looks ready to breakout any day now. Strange that I haven't really seen much talk about this setup as Ethereum and a few others have taken the spotlight. Makes me more confident that it'll follow through. Once we break over $1.25, FOMO will start to creep in.

ZenTradesRW

SOL broke out of the symmetrical triangle (200 day as support), retested and looks like its continuing towards the ATH near $50. I'd expect a consolidation there as the RSI would be pretty heated by then, but then blue sky breakout to follow This looks to be one of the leaders in crypto atm from a technical standpoint.

ZenTradesRW Updated 

Looking for MATIC to start a massive short squeeze as Bitcoin rebounds. Momentum stocks are basing nicely with some already breaking out, and crypto has largely traded in-line with momentum stocks as a risk-on trade. Most importantly, the Fed is still accommodative. MATIC made a huge run prior to the correction and is one of the top performers YTD. Only big money...

ZenTradesRW Updated 

Idea on the chart

ZenTradesRW Updated 

Low volume, false breakdown (shakeout) will be followed by epic short squeeze. Past weekly volume was lowest since October 2020 meaning institutions & other large players have stopped selling. The more recent decline has come from short sellers and retail. This is a bottoming process. Many other altcoins looks to be in the depression phase of the market cycle w/...

ZenTradesRW

Inverse head & shoulders in the works. After a parabolic move, the chart will take some time to rebuild. Additionally, the sharp rise in interest rates have hurt all growth stocks (higher discount rate = lower valuations) and the pain likely isn't over. Look for bounce early this week (possible gap fill) as fund managers re-deploy capital from month-end...

ZenTradesRW

All ideas in the chart.

ZenTradesRW Updated 

Earnings season has kicked off and economic data began to roll in today - it all looks pretty horrible on the retail / consumer / home builder front. In fact, the data was so bad that the market couldn't ignore it. Up to this point, the market has been extremely optimistic as the virus began to plateau and the Fed intervened with unprecedented stimulus measures....

ZenTradesRW Updated 

The bear market rally has been fueled by a flattening of the coronavirus curve in Europe and NYC, as well as continued monetary and fiscal stimulus measures. As we move past these two items into next week, the market will begin to shift its focus to the underlying fundamentals (GDP declines, unemployment, earnings, etc.) and how long it will take to get back to...

ZenTradesRW

Senate and House will pass fiscal stimulus bill 3/26, which will push Tesla passed $600 level (filling the gap) before retreating on peak US virus news and weak economic data back to the $425-450 range, forming a double bottom. This will mark the start of the next bull market. Tesla will outperform given the most recent run-up prior to the Coronavirus put the...

ZenTradesRW Updated 

2020 is shaping up to be a monster year for Tesla. As the company achieves certain milestones, shorts will continue to cover and larger institutional "buy and hold" type investors will begin to pile in. Q4 '19 earnings are going to be released on January 29 (Wednesday) and I believe they're going to beat analyst estimates comfortably given estimates are on par...

ZenTradesRW Updated 

The Coronavirus has shaken the market and stock price has fallen out of the ascending triangle. However, investors and analysts are largely pricing in the worst case scenario (global pandemic completely shutting down economies and throwing world into recession), which is normal human behavior. Supply/demand are just deferred, but as infection numbers plateau and...

ZenTradesRW Updated 

Tesla is showing continued strength after the correction from high $900's to high $600's. The stock formed an ascending triangle and recently broke out today on news of the $2bn stock offering. This capital raise further strengthens the balance sheet and enables the company to accelerate growth projects (Giga Texas? Battery Cell Manufacturing? Semi/Cybertruck?...

ZenTradesRW

Looks like Tesla stock has behaved similarly to the historical pattern mentioned in my last idea. Post Q3 earnings surprise, shares surged ~30% to $340 and now are in normal fib retracement of 38.2% back in the $305-$315 range. Given the imminent start of Shanghai Gig Factory production, pickup truck unveil and Q4 typically being the best quarter for automakers, I...

ZenTradesRW Updated 

The pattern formed in early 2017 looks extremely similar to what is currently forming on the chart. Combined with an accommodating Fed (Sept 18-19), China factory progress / launch this month, potential positive news on deliveries early October, and unveiling of the pickup truck in November should drive shares higher. Additionally, any positive news on trade and...

ZenTradesRW

While Tesla has bounced around a wide trading range for the last few years, the stock will ultimately break out to new ATHs upon achieving positive Q4 earnings, which we'll know of in the next 2-3 weeks when those figures are released. On the technical side, you can see a double bottom which occurred last month at $300 and a bull flag formation which will...