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SPY Likely to Rebound After 3 Week Downtrend
$SPY has been bleeding for 3 weeks, but I think there will be a rebound soon. I discussed how the white trendline is a strong resistance level, and I kept my shorts opened because there is a lot of resistance there. After this 3-week downtrend, SPY could potentially rebound over the next few days. I […]Read More
SPY is Forming Red Candles in the Light Blue Zone
$SPY has been trading within the light blue zone, and this is an important support zone that S&P bulls need to defend. The daily candles have been red despite the price trading in a support zone, so I would closely monitor to see if SPY loses support here. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreQQQ Still Trading Near the Lows
$QQQ continues to trade near the lows below the yellow trendline. QQQ has been trading within a range between $435 and $446 since March 25. I would wait for QQQ to find a clear direction, but I think the likely scenario is a move back up towards the yellow trendline since the local lows have […]Read More
UUUU – Trading Sideways Within a Range
$UUUU is trading within a range between the yellow and white lines. For now there is support building up at $5.74, and I would monitor to see if this support level holds. Otherwise there could be a drop towards $4.78, and this $4.78 would be my preferred price level for buying. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreNFLX – Overbought and Bullish Headed Into Apr. 15 Earnings
$NFLX has been overbought for quite some time now, but continues to show bullishness headed into earnings on Apr. 15. NFLX is holding strong above the light blue zone and has reclaimed support at the yellow trendline. I think NFLX could spike up if these support levels continue to hold. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreJNJ – Steep Decline Towards $145.65 Support Level Headed Into Apr. 16 Earnings
$JNJ has been in a steep decline headed into next week’s earnings announcement on Apr. 16. I have the white trendline as a key support level ahead, and I think JNJ could rebound around $145.65. I would be interested in buying some JNJ at that price level. ChartChamp socials: https://linktr.ee/realchartchamp
Read MorePG – Potential Rebound Headed Into Apr. 19 Earnings
$PG has been in a downtrend headed into next week’s earnings announcement on April 19. I think PG could rebound around the lows of the Bollinger Band near $153-154 price levels. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreUVIX – More Upside Before a Steeper Decline
The $UVIX has been trending up, I think it would be a late entry to go long here since the price has already spiked from $8.70 to $11.50. There could be more upside but the UVIX is unlikely to remain above the midrange of the Bollinger Band around $12.20. The price has historically struggled to […]Read More
NASDAQ – QQQ Climbing Up Towards the Yellow Trending
$QQQ has started to rebound from he local lows, and I think QQQ can continue to trade around the yellow trendline. I want to see whether QQQ is able to climb up towards the yellow trendline, and whether this yellow trendline acts as resistance on the way up. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreNVDA Trading Near Resistance
NVDA has broken above the $120 resistance level, and continues to show bullish momentum today. However, the price is still trading near resistance, and NVDA needs to stay above $123.90 to remain bullish. If NVDA does continue to rally I have $131 as my next key target. For now $123.90 is a key level to […]Read More
PayPal Expands Crypto Capabilities to U.S. Business Accounts
PayPal (PYPL) is taking a significant step forward in its cryptocurrency offerings by allowing U.S. business clients to buy, hold, and sell digital assets directly from their accounts. The expansion, announced on Wednesday, marks a new chapter for the payments giant as it seeks to cater to increasing demand from business owners interested in cryptocurrency. […]Read More
Crypto-Stocks Correlation Surges to 67%, Driven by Growing Risk Appetite
The correlation between cryptocurrencies and U.S. stocks has surged to 67%, marking the second-highest level on record, according to a recent report from Bloomberg. This level is only surpassed by the 72% correlation seen in the second quarter of 2022, signifying a significant shift in market behavior. A Spike in Crypto InflowsRecent data indicates that […]Read More