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ASTS Trading Near Resistance
ASTS had an incredible rally from $1.85 to $36, but the price is starting to face resistance between $29.75 and $36.20. Right now ASTS is trading near the lower end of this resistance zone around $29.75, and I would monitor for a rejection here. The price could start to break down lower over time. Follow […]Read More
NASDAQ Likely to Retest $17,500
The NASDAQ has formed a strong overshoot above a key resistance level, and I think there is a strong narrative for a melt up in the stock market. However, I think both the bullish and bearish narrative would have some downside over the next few weeks. I can see NDX dropping to around $17,500 to […]Read More
SQQQ Rebounds from $8.18 Support Level
SQQQ has formed a bullish rebound off the $8.18 support level last week, and is starting to spike back up again today. The sentiment has also tipped in favor of a 50 bps cut, which is a bearish sign that the Fed is likely too late with cutting rates. September has been extremely volatile so […]Read More
FMC Building Support for About a Year
FMC has been building support at $49.25 for about a year now, and is trading within a tight range with resistance at $66.98. I think FMC needs to break above $66.98 to start a rally. For now I would be more concerned about the stock market’s reaction to the Fed pivot before considering any new […]Read More
CHPT Trading Near All Time Lows
CHPT is trading near all time lows with support around $1.23. I think there could be some upside, but CHPT is a stock with weak fundamentals. The forecast suggests a decline in revenue over the next few quarters so I think CHPT is at risk of diluting investors or trending down lower. Follow me on […]Read More
SPDN is a Way to Hedge Against Stocks
SPDN should be perceived as a hedge against the stock market without using leverage. SQQQ and SPXS are 3x leveraged, meaning that for every 1% decline in QQQ or SPX will result in a 3% rise for SQQQ or SPXS respectively. I think SPDN will provide less upside and less risk for those who want […]Read More
SPXS Trading Within the Buy Zone
SPXS has dropped back into the buy zone between $7.06 – $7.19. I think SPXS has relatively less upside because the next key resistance level is around $8.24 at the yellow trendline. The majority of the stock market rally has been concentrated in tech stocks while most of the stocks in the S&P have underperformed. […]Read More
MPW Has Reached Resistance at $5.90
MPW has quickly rallied higher, and is now above the light blue resistance target discussed yesterday. I have resistance around $5.90, and I think MPW is forming a bit of an overshoot here. I would monitor for a break or rejection here, I think a selloff is more likely but I wouldn’t be surprised to […]Read More
HOLO Starts to Bleed After Losing $0.28 Support
HOLO has started to break down below the $0.28 support level and is gradually bleeding. I would give HOLO some time to form a bottom near a new all time low before considering my next entry. There’s plenty of time between now and the Sept. 27 shareholder meeting so I will patiently wait for an […]Read More
COIN Approaching $263 Resistance Level
COIN has surged by 30%+ following Bitcoin’s strong US election rally. COIN is approaching a key yellow resistance line with a $263 target. I have $208 as support and $283 as the next resistance level to monitor. For now I would keep an eye on $263 for a break or rejection. Follow me on social […]Read More
Bitcoin Miners Lagging Behind Bitcoin’s Rally
RIOT has underperformed over the past 2 earnings announcements. The most recent earnings was announced on Oct. 30. The crypto market is hot right now, and RIOT is still rallying despite the poor earnings performance. I have $13.04 and the yellow trendline as key resistance targets on the way up. The yellow trendline gives a […]Read More
Stock Market Rallies on Election Night
The stock market also experienced a strong rally during overnight trading. QQQ has rallied by 2%+, which is very high for a stock market index. QQQ has formed a bullish gap higher, and is trading near resistance at all time highs. The yellow trendline has acted as strong resistance over the past few months and […]Read More