pravenmoorthy

pravenmoorthy

Daily Chart Report ARKK did a nice retest of the breakout and now it's headed lower. The next support level is at 74 also the full measured move points to the 74 level.

pravenmoorthy

FB breaking out of a descending broadening wedge. It does have a resistance at 336 level. If that is taken out then it is headed to 353 resistance level.

pravenmoorthy

It looks like there is going to be an explosive move on DIS. My view is that it is going higher. The price target would be the 168 resistance. If you see on the RSI it is forming a tight wedge. RSI could be a pre indicator for the direction of the move.

pravenmoorthy

Daily Chart Report Is MSFT breaking to the upside or is it getting ready for the next leg down. MSFT has now closed below the resistance for 4 straight days. It looks like we might see some consolidation at the current level before it makes the next move.

pravenmoorthy

Daily 15min Report SPY made some big moves today after the channel breakout. It is now coming into resistance at 470 level. The 470 level could be a major resistance level cause it aligns with the fig golden pocket. If the 470 is taken out then it's most likely going to a new ATH. For the downside the support is at 466.

pravenmoorthy

Daily Stock Report PYPL looking great for a breakout. It has been consolidating right at support. If it can break above 199 the next level of resistance would be at 217 level. Earnings coming out on Feb 02 so it can either run into earnings or breakout after earnings.

pravenmoorthy

Daily Report A very interesting day for QQQ here is why. 1. QQQ breached the long term channel bottom intraday but closed back into the channel. 2. Broke resistance at 381 and closed below 2days in a row. 3. We have a bullish hammer on the daily. 4. The price is still below the 50day and the 100day moving average. With all this said is QQQ done with the...

pravenmoorthy

Daily 15min Report SPY tagged the bottom of the channel today and then came up and broke out of the channel with increasing volume. SPY does have resistance at 466 level. If the 466 resistance holds then we can see SPY go down to retest the 460 level intraday before it starts heading higher.

pravenmoorthy

Can QQQ look anymore bearish. It just put an evening star candlestick pattern on the weekly chart. The next level or support is at 369 level. I will also note that QQQ is currently trading in an up trending channel. So the base of the channel can act as support.

pravenmoorthy

SOL broke support with increasing volume so support now becomes resistance. I would also note that the current price is sitting right at the 200Day SMA. If that moving average is not held then it is headed to 118 support level.

pravenmoorthy

BTC dominance is looking to make a turn around. It is sitting right at support. It is making a reversal candlestick pattern. A reversal in BTC.D will be great for bitcoin and bad for alt coins.

pravenmoorthy

10yr yield is sitting right at resistance. A break above will be bad for tech and good for banks. The last time 10yr was at this level QQQ corrected 10%.

pravenmoorthy

Rise in interest rate is doing well for financials. XLF finally broke out today. The price target is now 42.03. Look for a potential retest of the breakout.

pravenmoorthy

After a big move it is now consolidating in a channel. Long at support and short at resistance. It's probably gonna range for some time before it makes the next leg up or a pull back down to retest.

pravenmoorthy

XLE getting close to the top trend line. Support is at 59.28. It does look like it is topping so XLE could come back to retest the breakout.

pravenmoorthy

KBE breaking out of resistance which will now be support. Next resistance is at 60 level.

pravenmoorthy

XLF sitting at the door to breakout. A brake above 40.89 can easily take the price to 42. There has been multiple unusual options activity for Feb exp.

pravenmoorthy

It is very important to keep an eye on VIX. It closed today above resistance so it has now become support. It also closed above 19 but got rejected at 21. The blue moving average is moving up fast which could act as support. 21 will be the level to watch. If VIX crosses 21 then it will be very bad for stocks.