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SQQQ Likely to Rally Into Sept. 18 FOMC Meeting
Next Wednesday we have the long awaited Sept. 18 fed pivot. Usually the markets tend to start declining in the days leading up to the Fed pivot. SQQQ could benefit by experiencing some upside next week. SQQQ has been building a support line at $8.18 with wicks forming below. September is usually a strong month […]Read More
QQQ Hits $476.31 Resistance
The odds of a 50 bps cut has increased from 14% to 45%. This is not a good sign, a 50 bps cut is an emergency rate cut that implies the Fed is cutting rates because of an emergency economic situation. Next week should be interesting to see what the Fed decides to ultimately do. […]Read More
SIRI Losing Support Despite 1:10 Reverse Stock Split
SIRI has announced a 1:10 reverse stock split, which is usually bearish for most stocks. SIRI is also losing support at a key support zone between $29.90 and $36.48. I think SIRI desperately needs to rebound around $24.50 to have any hope of climbing back above $29.90 support. If SIRI fails to remain above $24.50 […]Read More
MRNA Declines by 17% After Changes to Future Plans
Moderna announced plans to cut $1.1 billion in expenses by 2027 as it adapts to a post-COVID business environment. The company aims to win approval for 10 new products by 2027 but will also pause or scrap some projects to manage R&D spending. Moderna’s shares dropped by over 17% following the news, reflecting concerns about […]Read More
MPW Spikes Up After Severing Ties to Steward Health
Medical Properties Trust (MPW) announced a global settlement with Steward Health Care System and its creditors, which allows MPT to regain control over 15 hospitals and transition their operations to four new quality operators. The agreement ends MPT’s relationship with Steward and ensures that the hospitals remain operational under new management in states such as […]Read More
IWM Rebounds from the White Zone
IWM has successfully formed a bullish rebound from the white zone, flipping this level from resistance into support. I’d like to see some nice follow up volume to help IWM rally to the yellow trendline around $220. For now IWM needs to hold above $210.44 to remain bullish. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreSQQQ Likely to Retest the Yellow Support Line
SQQQ has been trending down as the stock market rebounds. I have $8.10 to $8.20 as a key price level of interest, I think SQQQ could trend down over the next few days to retest this yellow support line. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreGME Likely to Retest $17.50
GME is currently sitting on roughly $4.6 billion in cash after diluting investors again this week. I think there is likely to be short term pain, and I can see a retest of the $17.50 trendline. I think the $17.50 price level would be an excellent buying opportunity, but I would also still be cautious […]Read More
NVDA Approaching Resistance at $122.20
NVDA has experienced a strong rebound yesterday, and continues to trend up higher today. However, there is a key resistance level approaching around $122.20. I would monitor for a break or rejection here, and I’m leaning towards a rejection and some downside headed into next week’s Sept. 18 FOMC meeting. I wouldn’t be surprised to […]Read More
TSLA Rallies With Trump Victory
Elon Musk has played an important role in supporting Trump during the 2024 US presidential elections. Trump’s victory is also benefitting stocks and cryptos associated with Elon. TSLA has experienced a strong rally during overnight trading, rising from $250 per share to as high as $289 per share. More importantly, TSLA has formed a bullish […]Read More
GOLD and GDX Selloff with Trump’s Victory
GOLD has started to selloff with Trump’s US election victory. The narrative is that Trump will reduce inflation, which is likely to hurt the price of commodities like GOLD and SLV. Prior to Trump’s victory GOLD has been trading in a strong uptrend within the yellow channel. Today GOLD has broken below that channel and […]Read More
NVAX Refunds $123.8 Million Deal
Yesterday NVAX received bad news that is hurting the stock price. The news is that NVAX has entered into a termination and settlement agreement with the UK Health Security Agency (UKHSA) related to its COVID-19 vaccine supply agreement. Novavax has agreed to refund $123.8 million to the UK Health Agency in equal quarterly installments of […]Read More