porretta.matt

porretta.matt

Hi guys, I haven't posted anything in a while. This is the latest stock I am watching. I personally do not know any of the fundamentals about this company. I am purely looking at this chart, and it is looking very nice. It is holding above the 200 SMMA, and bouncing quite nicely off this trend line on the daily chart. A perfect entry would be around $2.35 -...

porretta.matt

Hey guys, I am looking at grabbing some DAL calls tomorrow. I can see this having another beautiful run as we are starting to experience a small sector rotation. Stocks that were beat down by covid should experience a nice run in the next couple weeks. Happy trading! - Matt

porretta.matt

Hey guys, I can see NKLA trading down around $37 in the next month. Maybe in the next couple weeks. Will watch for a break of $52 to take us down to $37 range. This chart looks ominous, and the fundamentals also look horrible.

porretta.matt

Hey guys, I have been watching ZM for a while now, trying to find a decent short entry. This looks pretty promising. RSI is overbought (on every time frame) and is producing a bearish divergence. Also, we are climbing in a tight ascending wedge. Volume is also decreasing. I am not sure who is actually buying at these levels, but going short seems like a far less...

porretta.matt

Hey guys, I am watching this closely and will definitely be partaking in some gains as gold approaches these two trend lines. I expect we will push upwards, but could also break downwards. There will not be much risk on this trade, with high profitability if you are playing options. Happy trading! - Matt

porretta.matt

Hey guys, I noticed NFLX dropped out of a smaller time trend line. I expect a small retracement back to around $400, and then a continuation of an uptrend. Happy trading! - Matt

porretta.matt

Hey guys, I have been waiting patiently to get long on BA. I waited for a breakout, and then a quick retest/consolidation near the trend line. This chart is looking EXTREMELY bullish. I am excited to see BA having finally (and hopefully) bottomed and form a reversal. See you guys at $150 BA Calls soon! - Matt

porretta.matt

Hey guys, I am looking for a short on this ascending wedge play. Today we had an insane bullish move to the upside and this stonk wasn't moving. It then began to fade all day. Let me know what you guys think, thanks! Happy Trading, - Matt

porretta.matt

Hey guys, So I still am looking for a long entry in these poor, pitiful, beat down airline stonks. This trend break is looking more bearish than anything though. Maybe we can pump it up past this trend line in the week. Otherwise we might have some more downside in the near future. Warren Buffet called it.. that son of a biscuit. He sold his airline stocks at a...

porretta.matt

Hey guys, So the airlines have already been decimated. Looking at this chart, I would consider taking a short at a trend line break to the downside. I know it's already fallen so much, but this support is the last thing AAL has going for it. If this breaks .. lookout. Happy trading, - Matt

porretta.matt

Hey guys, I am looking for a pullback on BYND. This stock has had increasing price, with declining volume, and to top it off a massive bearish divergence on multiple time frames. The SMA and EMA are also turning bearish. I don't believe we will see a complete trend reversal, but I believe a pullback to the 100-120 area would be a healthy correction. Happy trading...

porretta.matt

Hey guys, I took my first TSLA options trade the other day. It was pretty intense. TSLA is approaching a key level to break through. If we break this trend, I could see us reaching some new all time highs. If we fail to gain this level, We will retrace and break out of this long term trend. I would be ready to go short at a trend break down, and long at a break...

porretta.matt

Hey guys, I am waiting for the big boys to move this into a profitable direction. Keep your eyes on it and waiting to press the buy/sell button. Happy trading! - Matt

porretta.matt

Hey guys, AAL is forming a perfect descending triangle. I would imagine this will run up and retest the trend line above one more time. Whatever the case, I would be ready to go long or short based on a breakout. Most of the time these break out downward.. but sometimes they pop up. 75% chance of a break down, 25% chance of a break up. It all depends on how many...

porretta.matt

Hey guys, I am just as confused as everyone else on charting the S&P. All we can really do is point out observations and patterns. So I noticed another upward trend has formed. I would expect us to tap the top of it around 3,000. It is also possible that we run out of buyers at this point and the market begins to trend lower. Tomorrow should be an interesting...

porretta.matt

Hey guys, I still have no idea how to use Elliot wave theory. This just looks like a feasible outcome. I expect a bounce at the bottom of this channel because it's also a Fib level. I would imagine we will retrace down to the .38 area at some point. Let me know what you guys think, and as always, happy trading! - Matt

porretta.matt Updated 

Hey guys, my other chart was wrong. I am now a hyper bull. I see us back at pre-march levels in less than a month. I mean, we shouldn't be .. but people don't care about bad economic news anymore. So up we go.. Happy Trading! - Matt

porretta.matt Updated 

Hey guys, I just picked up some LUV. I am looking for a pop on this due to DLA and BA rising sharply. Option pricing is already getting inflated. Get in the plane before it takes off!