Rejected at BLUE upper trend line on Oct. 1st.
Holding 20DMA for now.
No strong breakout to either side from wedge pattern.
If we break through the 200DMA/Upper RED trend line -> look out for support by the lower RED trend line.
Beyond the chart:
Valuation still extended, fewer cars delivered in Europe QoQ, competition gained market share, earnings this year look...
Let's see if it can hold the 20dma. If it can not bounce retest of red line likely.
Adding to this is the stock offering at a record high and a second Corona wave, which is sub optimal for a casino operator...
TWTR broke the COVID-rally trendline, no retest of said trendline yet. Broke the 200 day moving average today. Retest of 200 dma from the underside very likely. H&S forming -> combination of the trendline breaking, 200 day moving average breaking and the H&S forming, could be a great short entry point. Confirmation before premature position taking preferable.
Great entry spot to short GSX. Set generous stop over the purple line. If muddywaters research is right, then this is the next LK and will retest IPO levels or even go near zero. This is a great entry point to add to short position, if you shorted a bit too early (like me (break even 39,12)). Put spreads seem best to use for this imho.
Filled gap from 970$ to 950$ today. Recent TSLA rally loosing steam - aided by TSLA downgrade from formerly bullish analysts to underweight and overall market loosing momentum. Retest of lower line (blue line) of uprising channel likely, look for breakdown below. Confirmation by a retest of the lower line (blue line) of the rising channel form below -> could...
After this relatively big earnings sell off I am expecting a bounce from the {purple} support line, that has held well since the breakout from the falling channel a couple of months ago. Today (02.05.19) we breached this support line on the close, nonetheless I still think it will respect this underside resistance (at least short term). Compared to competitors the...
AAPL successfully jumped the {orange} gap and held the {green} uptrend. Either continues uptrend/consolidates, if not and the {green} support breaks --> test of mid BB/ {light blue} lines incoming. Let's see how earnings play out!
Relatively low volume on SPX this past month, but the price action respected the {green} triangle and stayed inside. Test of the mid-bb (at the same time the underside of the {green} triangle) incoming IMHO --> bounce very likely, just pray to the FED-lords that there shall never be another rate hike and we continue to print dollars like it's monopoly money! Happy Easter!
It successfully broke out of the downtrend and tries to push higher. For a parabolic move higher we need to break the red line above. Key support is the purple trend line. Be careful backtest of the upper line of the downtrend likely if it breaks (purple) support or bad news! Have a great DAY and GAINS
Quick analysis. If the market in general stays normal, there is a real possibility that FDX stays in the channel. Remember to always wait for confirmation of a bounce!
