Nokia taking an initial counter trend long position on the assumption that price has bottomed in the short term. Will update accordingly if the situation changes.
For counter trend or trend continuation plays, I look for the closing of the "Jaws" or in the case of NYSE:CCI , the Megalodon. The entry has to be backed up by rising volume. As a general rule: 1. the higher the angle of attack, the stronger the move 2. preferrably a parabolic curve (as this indicates that price has undergone prior development between bulls...
Over the past 2 weeks I have taken up positions on a few US regional banks including NASDAQ:WSBC , NYSE:TFC , NYSE:USB , NYSE:KEY They are relatively small positions given the concerns over liquidity and interest rates. However the chart is looking bullish on all timeframes up until the weekly so there is some big money involved. For US banks I prefer...
NYSE:UPS is up 2% today. It has hit my expected resistance so I have decided to take profits. As shown in the 3-day chart, we have good momentum to the upside but the volume oscillator is trending down. Note this is not bearish by any means, it only suggests that price action may be capped in the near term. The 3 day chart is presented here based on my own...
Taking an initial long position based on directional indicator and volume oscillator. Potential to increase the position based on higher timeframe
Waited until Jerome Powell had finished speaking before taking any trades today, Started the day with a new position on APA. The ong entry trade set up is as follows: 1. Directional indicator are moving in opposite directions at an angle (pref > 35 degrees) 2. Volume osciallator (Chakin money flow and On Balance) is increasing 3. Resistance based on higher...
Taken a long position prior to the Q3 results. On the two day chart, I am waiting to see if price momentum can be supported by volume (indicated by the 2 highlighted circles). If it can break resistance to the upside, I may consider to add to my position. If not I will exit with a very small profit.
EURONEXT:DIM Currently identified 280-285 and 305 as potential profit targets with the latter being the more likely based on my own analysis although it could take a correction or two to get there and the move could also breakdown in the process.
Agenus NASDAQ:AGEN is a stock that I have not followed since they were forced (unfairly) by the FDA to pull their NDA for balstilimab. However recently price action has started to look favourable and this is in conjuction with ASCO where the company is presenting clinical data from 2 trials.
There are many names in the O&G that I could consider opening long positions today. NYSE:COP is one of them, others being NYSE:CNQ NYSE:DINO , NYSE:VLO among others. Note however that many of these tickers are still in a long term down trend so it would be prudent to start off with a small position and see how the merket behaves and react accordingly. I...
A lot of semiconductor names showing similar chart patterns. Taking a small opportunistic position on NASDAQ:TER based on 1 day timeframe. If the price can hold, will consider to add to the current position based on higher timeframes (2D, 3D, 1 week etc.)
Contrary to most trade setups with static support and resistance, my system has a dynamic support/resistance based on directional indicator and volume*. The first breakout at angle needs to be supported by volume or else it has a high probability of failure. Here we see NYSE:AVTR on the 3 day chart. I want to see a test of the resistance line backed by momentum...
Intiated a position on NASDAQ:DOCU . Over the coming days If price action and volume on higher level timeframe suggest resistance can be broken, I will consider to add to my position.
NYSE:AVLR Avalara The chart show signs of potential trend reversal under development based on directional momentum
OANDA:USDJPY USD/JPY pair indicates bearish momentum for the USD the short term. Hedge of of the long USD position would be prudent.
Iron Mountain NYSE:IRM is a records and information management services company. Its share price has been falling rapidly as of late hence I would like to take the the opportunity to see how I use two of my custom indicators to identify trend changes and adapt accordingly The daily chart of IRM is divided into 3 parts from top to bottom: 1. The share...
Here is a long term idea on Alstom EURONEXT:ALO a French multinational rolling stock manufacturer. I will make a case why a long term view on the company is warranted from technical analysis with some commentary on its financials and business operation. Technical The weekly chart is presented here. It shows bullish momentum as indicate by my directional...
NASDAQ:WIX Taking a small long position on WIX, a website building platform. Price action suggests a short term recovery, based on my own proprietary indicator, as indicated by the white arrows. Will accumulate if the thesis pans out.