dear oxy holders,
i too understand the pain, as i bought the dip today at 51.69.
the monthly 50MA holds at 48.70. if it breaks, time to pop one cus 36 is coming fast.
li lu im watching ur ass
after breaking out monthly descending wedge and hitting $265 high, we are now at the 200MA around $160.
stock will likely chop in the highlighted triangle.
very choppy from 160-190.
still choppy from 194-265.
it is at the buy the dip zone. it is now at the breakout level at ~160 from the december 2022 highs that led to 1 year rally up to 265.
GOOGLE is in a weird spot at the moment. It's recently broken out of its monthly wedge @ 150, hit ATH near 200, and is back at the key breakout level, 150. until 167 is broken, it is hardcore chop between 150-167.
MACD still hints selling can get much worse.. if bears keep the pressure, 135 and 126 are buy the dip zones.
Loading up here at 150 is a bit riskier,...
See my previous posts last few days. I've been skeptical of this rally, and have been holding through this fake breakout.
$125 is a major support level for bears to break for any movement.
My opinion is that Wave C could have happened at "A".
Bullish bounce off the $95.68 level if re-tested, would invalidate this correction wave structure.
If there is a...
See my last post.
Likelihood of this bull channel holding resistance is higher, especially as all the FOMO catchers are jumping in now.
This chart is for a bigger time frame picture on where the market currently stands.
After the sell off on 8/5, retail traders are starting to pile back in because all the issues magically just disappeared.
It is actually comical to see how easily the media controls the narrative of the people and the market.
Straight up and down moves are the best times for a reversion to mean trade.
Or at least... we'll find out.
MACD on hourly cross-over,...
5/23/24: breakout @ 105.07.
1st target @ 106.01.
(weekly) descending wedge breakout.
first test of 106.01 in 4/2024. re-test to confirm strength. key level to watch 107 for slow grind back to 110.
with the announcement of rate cuts .25 bps in 24, it's a good time to start watching price action of Rusell to start a position. still ping pong action in this megaphone pattern. the common misconception is that rate cuts are good for equities, when i believe it is not. thesis is that when stock market starts to cool off and hit major supports. up to interpreting...
