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SPY Strong Support at $500, Likely to Rally Higher
SPY has been building strong support at $500, and I think there could be some upside over the next few weeks. May is likely to be bullish, but the key question is whether traders will sell in May and go away. I’m personally leaning towards a bullish summer and a bearish fall, but we’ll reassess […]Read More
SMCI Opportunity to Buy the Dip
SMCI reported strong earnings and set high guidance for next quarter. I think there will be some more upside for SMCI, and it is one of the hotter stocks in the market right now. Buy target: Stop Loss: Sell target: SMCI beat earnings expectations, and set high guidance for next quarter. SMCI’s seasonality index is […]Read More
QQQ Still Slowly Trending Up Despite the Pullback
QQQ is still making some slow progress to the upside despite yesterday’s selloff. I would monitor for a rebound and continued upside over the next few trading days. However, traders and investors are patiently waiting for FOMC so we’ll see how the markets are looking in a few hours after the FOMC announcement. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreSPY Retesting Support at $500 Again
Yesterday’s selloff has caused SPY to drop back down to $500 again. There is support building up at this $500 support level headed into today’s FOMC announcement. Powell’s speech will be very important for influencing the market sentiment. This is important because investors are confused and worried about the direction of the U.S. and global […]Read More
BIIB 50% Swing Trade Setup
BIIB is forming a bullish rebound in the buy zone. I think there could be a 50%+ rally towards the yellow trendline over the next few months. TrendSpider’s seasonality index is bullish between May and August. Entry price: SL: Exit price: Biogen Inc. (BIIB) Financials Leqembi’s Growth: Biogen’s Alzheimer’s therapy, Leqembi, has experienced a significant uptick […]Read More
QQQ Stalling Around $432 Headed Into FOMC
There is also neutral price action for QQQ around $431-432. I think today’s price action will be pretty boring and investors are bracing for some volatility tomorrow. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreSPY Slightly Bearish Headed Into FOMC
The markets are slightly red today as we approach an important FOMC decision tomorrow. I think we are likely to see some sideways price action until the Fed decision. There is a 99%+ chance of another pause, but investors will pay close attention to the Fed’s future guidance tomorrow. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreEli Lilly (LLY) Weight-Loss Drug Surpasses Expectations
Eli Lilly is experiencing a significant surge following its latest earnings report, which highlighted the impressive performance of its weight-loss drug, Zepbound. On Tuesday, the company’s stock price climbed over 4% to $771.25, reflecting investor enthusiasm for its recent achievements. Zepbound’s sales for the March quarter reached an impressive $517.4 million, surpassing Wall Street’s expectations […]Read More
Cheers to the SNAP Gains, Volatility Ahead
Patience has paid off for those who bought the SNAP dip. There was a strong post-earnings rally and SNAP is now trading above $14 price levels. I have $17.53 and $23.61 as key long-term price targets to consider. TrendSpider’s seasonality index suggests that $SNAP is likely to have some volatility over the next few months. […]Read More
USD/JPY Declines from Ishiba’s Victory
USD / JPY has declined after Shigeru Ishiba was elected to become prime minister by the Liberal Democratic Party. USD/JPY has experienced a sharp selloff, and is trading slightly above a $140.95 support level. I think USD/JPY is at risk of losing support over the next few weeks, which could cause some panic for the […]Read More
HOLO Shareholder Meeting Today
HOLO has an important shareholder meeting today, and there is likely to be a 1:20 reverse split sometime next week. We’ll have to wait for some news today or over the weekend to see the details of the reverse split. For now HOLO is trading near a $0.2797 resistance level, and is attempting to flip […]Read More
QQQ Attempting to Build Support at $488.43
QQQ is trading within a key white resistance zone, which was a price level that I discussed for a strong rejection. However, so far QQQ has been holding up pretty well here. Despite numerous red candles forming QQQ is still holding above the lower end of this white zone around $488.43. I would monitor to […]Read More