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NVDA Starting to Lose Support
NVDA has started to drop below a key support level around $106.60. I think we could see some tricky price action here with a wick back above support. This seems like a typical downswing headed into FOMC, and we could see a post-FOMC rally starting tomorrow. If NVDA does lose support here the next key […]Read More
NVAX Suffers 25%+ Decline After JPMorgan
Today JPMorgan downgraded NVAX from neutral to underweight, and set a $8.00 analyst target. NVAX has suffered a 25%+ decline from this news, and I have $11.80 as a key support level to monitor on the way down. NVAX is technically valued above $10+ after the Sanofi vaccine deal so the $8 analyst target seems […]Read More
IWM Cools Down Headed Into FOMC
IWM and small caps have cooled down as we approach tomorrow’s FOMC announcement. I still think there’s more upside for small caps, but we are starting to see slow progress. IWM is trading within a range between $221 and $226, and we could see a post FOMC rally if we hear some bullish sentiment from […]Read More
Neutral Price Action for S&P, NASDAQ Headed Into FOMC
Tomorrow will be a big day for the markets with an FOMC announcement headed into the July monthly candle close. There has been sideways price action for the S&P and NASDAQ over the past few trading days. I have resistance at $550 for SPY and resistance at $472 for QQQ. August is a seasonally bullish […]Read More
AMC is Forming a Bull Pennant
AMC has been neutral and trading sideways since May 13. I think AMC is forming a bull pennant pattern, and there could be a move coming sooner rather than later. IWM suggests that small caps could see some more upside in August so I’m leaning towards a bullish breakout for AMC in August. Follow me […]Read More
HOLO Building Support Between $0.44 – $0.46
HOLO has been trading sideways above a green support zone with support around $0.44 – $0.46. I don’t think we see anything exciting until August, which starts later this week. For now I would like to see the price hold above the green zone over the next few days. I’m seeing two key dates for […]Read More
Small Caps Continue Their Bullish Momentum
Last week IWM and small caps continued to show bullish momentum with a long green candle up. I believe there will be more upside, and I have $233.10 as a key resistance target to monitor on the way up. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreSPY and NASDAQ Rebound Headed into July 31 FOMC
We have a July 31 FOMC announcement this week, and the expectation is another pause for Fed funds rate. SPY has started to gradually rebound, and there is resistance around $549 to monitor on the way up. QQQ Approaching $472 Resistance QQQ is also rebounding as we approach the July 31 FOMC announcement. There is […]Read More
IWM Opens with a Bullish Gap Higher
While the S&P and NASDAQ have struggled, IWM continues to show more bullish momentum. Today IWM opened with a bullish gap higher, and is trading near the local highs around $226. IWM can continue to rally higher to the $233.10 target before facing resistance. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreTSLA Starting to Rally After Strong Earnings
TSLA reported some strong earnings yesterday and a bullish forecast for the rest of 2024. TSLA has started to rally, and is approaching a key resistance zone between $264.72 and $271.23. I think there will be some selling taking place in this zone. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreSNAP Trading in a Range Between $8.23 and $17.30
SNAP has a tendency to experience large moves around earnings. Since May of 2022 SNAP has traded within a range between $8.23 and $17.30. I would consider buying all dips near $8.23, and I think SNAP will eventually form a bullish breakout above $17.30. For now there are swings within this range for swing trading, […]Read More
QQQ Rebounds Back Into the White Zone
Yesterday QQQ experienced a strong selloff with a break below the yellow support line. However, this morning the US jobless claims had some mixed results. I think overall the US jobless claims is a net positive, and investors are having a bullish reaction to the news. QQQ has quickly rebounded back into the white zone.There […]Read More