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QQQ Continues to Trade Within a Range
QQQ continues trading within this yellow rising wedge pattern, which is a bearish pattern. There is support building up near the upper range of the white zone around $493.39, and resistance around $500. I think QQQ can continue trading within this range before finding a direction. QQQ is more likely to break to the downside, […]Read More
Slow Progress for IWM
I think IWM and small cap stocks are still underperforming despite the Fed pivot. IWM has yet to reach new all time highs around $233.66. There has been a lot of sideways price movement below the $226.57 resistance level. Currently there is a bullish rebound forming around $219, and IWM is likely to make another […]Read More
GFI Forming a Bullish Breakout
GFI is trading within a yellow rising wedge pattern, which is typically bearish. However, GFI is showing some bullish signs here, and is forming a breakout above the white resistance line. I think GFI continues trading within a range between $14 and $20 for now, but could start to form a breakout to $30+ over […]Read More
KO Retesting $65.33 Support
KO has formed a correction, and is currently retesting $65.33 as support. I still have the yellow trendline as a key resistance target on the way up, but KO is forming a correction first. I would monitor for a bullish rebound at $65.33 before considering the $77 target at the yellow trendline. Follow me on […]Read More
CVX Flipping Resistance Into Support
CVX has formed a bullish breakout above the $131.47 resistance level, and is now trading in a yellow channel between $131 and $160. I think CVX is likely to continue trading within this yellow channel, and is trying to flip $131.47 resistance into support before trending up higher. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreXOM Rejection at $122.42
XOM is trading near all time highs, but has experienced a false breakout at the yellow trendline around $122.42. There is a selloff taking place, and I have $108 as a key support level on the way down. I think XOM could form a bullish breakout on the next move up, but for now I […]Read More
SOFI Starting to Rally
SOFI has formed a bullish breakout above the $8.41 resistance level, and also broke out of the yellow channel. SOFI has already experienced a rally over the past few weeks, and there is a brief pullback forming for those who want to buy this correction. I would look for entries near $8.41 and I have […]Read More
CDNS Swing Trade to $330
CDNS has been trading near three key price levels, and is presenting a buy opportunity near $246.18 support. I would buy near $246.18 with a stop loss directly below around $240. My sell targets are $278.80 and $330.10, there will be sellers at these price levels and pullbacks are likely to occur. Follow me on […]Read More
TSN Trading Within a Large Channel
TSN formed a bullish rebound off the white zone, flipping it from resistance into support. I have a yellow channel with a range between $50 – $132.67. I would patiently wait for a buy opportunity near the lower end of the range around $50-51. There is also a small light blue channel forming, there could […]Read More
Volatility for NVDA at All Time Highs
NVDA is trading near all time highs around $140.66, and I think there is a lot of volatility around this price level. I have support around $140 and resistance around $150. NVDA is likely to experience a lot of intraday volatility throughout the day and during post-market hours. The price will react to how bullish […]Read More
Sharp Selloff for TGT With $102.86 Target
I believe Target is struggling in this high interest rate environment because US consumers are turning to more affordable retail goods from stores like Costco. Target tends to overcharge for products, and I think the situation has gotten significantly worse due to inflation. Target reported the worst earnings in 2 years, which is raising concerns […]Read More
QQQ Volatility Headed Into NASDAQ Earnings
NVDA reports earnings today after stock market close. QQQ is starting to show some volatility around $500 price levels. I think there will be a lot of swings in both directions, and really the best decision is to just stay out of the market and not take any trades. For those of you who do […]Read More