i know these 2 companies are not related. I have seen this chart setup many times. most recently with SUNE at beginning of February. exponential moving averages bunched together. price breakout and backtest of a symmetrical triangle. macd and signal line moving back above zero. IDRA is going much higher
turn cnbc on mute, because k.finerman and other 'experts' just rode this sucker down from $34 to $8. And most of them loved SUNE above $30 and hated it, recently, near $10.
daily chart: price has not been able to close above the declining 5 day ema since the July 21 gap down. 27 trading sessions in a row, closing below the 5 day ema. that is incredible. the bottom came yesterday morning. it was very obvious. the macd histograms did not confirm the most recent selloff, and the macd is threatening a bullish crossover for the first time since the July 21 bearish crossover. the 5 ema will be broken very soon.
here is what is about to happen next. price is in the progress of forming an inverse head and shoulders bottom. the neckline will be established near $16. Price should get there in the next 5-10rading sessions with the high short interest +20%.
the measured move of this pattern should be met before the end of September. there will be a right shoulder (profit takers) at $16. Expect a decent pullback, probably a week of choppy trade, but the measured move of the pattern is to $23.50 - $24 range. this is in the area of the 61.8% fib retracement. this is also in the area of the 50, 100, and 200 day moving averages.
shorts should cover on any weakness.
finally we got some solid numbers this morning. thanks in advance. looking to add on any weakness
hope you have land and precious metals. remember, yes you might have a share of a company's earnings, but you probably paid 17X more than what it is actually worth. lol.
shorts must cover now 23% of float is short.
push above $88 will confirm this breakout.
MACD (5,9,2 settings) ready for the bullish crossover. stochastic about to turn bullish. tomorrow should be a very bullish day for BABA.
that is what the chart setup is saying. gap and go. go ahead and bash this post, but you'll print it out and put it on your fridge tomorrow.
go ahead and put that in your pipe...
I would not feel comfortable if I was holding short positions tonight. A powerful move higher is coming very soon.
there is way too much dumb money leveraged long now. SPX monthly chart looks identical to the 2000 top
price action and MACD carving out the same pattern. social media is bringing labor production and efficiency to a grinding hault. countries, states and cities strangled in runaway debt.
a great wealth transfer is coming, from the longs to the shorts
the weekly chart got a bullish crossover, with the signal line comfortable above the zero line. GOSY is going much higher
SPX weekly chart. this impulse wave from July 2011 bottom to the recent highs has concluded. the MACD and signal line are approaching zero, after 5 bearish divergences, where momentum did not confirm new 52 weeks highs for nearly the past 2 years. the trend is exhausted and will correct similar to the 2011 correction. that was almost 22%. this pullback will make a run at the 200 week moving average, which will be sitting at/near the 38.2% fib retrace level this fall. that level is SPX 1730ish. that is about a 19% drop. when price takes out 1820, from last October, we'll get the mega VIX spike, and put in that bottom near 1730. good luck trading, everyone.
15 min chart carving out a wave c. price should hold above 16.95 area. we will see big volume buying last hour today.
JACK has bottomed
nice bullish flag, or high-base on the 5 min chart
good luck traders
last 23 trading days have formed a beautiful falling wedge. this is a bullish pattern, in that it resolves itself the upside. price is finding support near the May 7th low, also known as 'gap support'. Bears are looking for 'gap fill', but they won't get it.
if you connect the closing highs of March 5th and May 21st, that forms upper resistance line of this upward sloping channel that BABA is carving out. Yesterday's and today's low tagged the lower support line, which connects to the closing low on May 5th. We have an upward sloping price channel in place now. I expect a pop to $88.70 early next week, near the 38.2% fib retrace level. 20 day is above 50 day is above 100 day average. BABA is in early stages of a bull market.
Long $84 July monthly calls