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TSLS for Tomorrow 10/8/2024Technical Analysis for TSLA Current Price: ~$241.70 Key Resistance Levels: First Resistance: $249.89 - This level aligns with recent selling pressure and previous highs. Second Resistance: $252.10 - A critical level that TSLA needs to break through to invalidate the downtrend. Third Resistance: $264.89 - Major resistance; a breakthrough here could push TSLA back toward recent highs. Key Support Levels: First Support: $237.91 - This level has been tested a few times recently and is providing short-term support. Second Support: $225.94 - Strong lower support based on previous lows. Trend: TSLA is currently in a downward channel. The price is consolidating near the lower trendline, which could indicate a potential bounce. However, a break below $237.91 could lead to more downside movement, targeting $225.94. Volume: Volume seems to have tapered off slightly in the last sessions, which may indicate that sellers are becoming exhausted. A spike in buying volume could signal a reversal. Indicators: Momentum oscillators are indicating a consolidation phase. Watch for a potential bullish divergence as the price approaches the lower trendline. Potential Trade Idea: Look for a potential bounce near $237.91 if volume picks up. Alternatively, a break below $237.91 could lead to a short opportunity down to $225.94. A break above $249.89 might lead to a rally towards $252.10 and beyond. This analysis is for educational purposes only and is not financial advice. Please do your own research before making any trading decisions.
NASDAQ:TSLA
by BullBear-Insights
NVDA For Tomorrow Trading 10/8/2024Key Levels: Resistance: The recent high at 130.63 is a critical resistance level to watch. Breaking this level could lead to further bullish momentum. Support: There are several support levels on the chart: The first support is at 128.10, where NVDA is currently hovering. A lower support zone is at 126.62, and below that, strong support is seen around 123.06 and 122.35. Trendline: NVDA is trending upwards, following the white ascending trendlines. As long as it respects this trend, NVDA could continue its upward move. A break below the lower trendline could signal a reversal, and 126.62 would be the key level to watch for downside potential. Volume: The recent increase in price has been accompanied by higher volume, which is a positive sign of bullish momentum. However, volume appears to be tapering off slightly, which could suggest potential consolidation or a pullback. Indicators: While not visible, based on the price action and consolidation around 128.10, the current momentum may slow down if it fails to break through resistance. Plan for Tomorrow: Bullish Scenario: If NVDA holds above 128.10 and breaks through 130.63, expect a continued move upwards, potentially testing higher resistance levels around 132.50-135.00. Bearish Scenario: A break below 126.62 could signal a deeper pullback toward 123.06, with the next support at 114.84. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any trading decisions.
NASDAQ:NVDA
by BullBear-Insights
PLTR for Tomorrow Trading 10/8/2024Key Levels: Resistance: The recent high around 40.29 acts as a strong resistance. If PLTR moves upward, this level will be critical for a breakout. Support: The support level is forming near 38.80 based on the current consolidation zone. A drop below this could lead to a further decline towards 38.40. Moving Averages: The 15 EMA is crossing under the 161 EMA, showing bearish momentum is present. PLTR is trading below these moving averages, signaling downward pressure unless a reversal occurs. MACD: The MACD is currently bearish with the MACD line crossing below the signal line. However, the histogram bars are shrinking, which might signal a slowing in bearish momentum and potential consolidation or reversal. Volume: The volume has been decreasing during this downtrend, which may indicate that the selling pressure is weakening, and buyers could start stepping in soon. Candlestick Patterns: The recent series of red candles suggests sellers are in control, but the last few candles show consolidation, suggesting indecision at this level. Plan for Tomorrow: Bullish Scenario: If PLTR holds the 38.80 support level and moves toward 39.46, a break above this could lead to testing the 40.29 resistance. Look for volume increase for confirmation. Bearish Scenario: A break below 38.80 could lead to a further decline towards 38.40 or lower. Watch for continued MACD weakness and low volume to signal continued downside. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always do your own research before making trading decisions.
NYSE:PLTR
by BullBear-Insights
$MSTR Mother of all short squeezes done?MicroStrategy ( NASDAQ:MSTR ) has recently drawn attention as its stock appears to be undergoing a potential short squeeze, causing rapid price surges. A short squeeze occurs when heavily shorted stocks experience significant upward pressure as short sellers rush to cover their positions, which drives the price even higher. This buying frenzy, often fueled by both institutional and retail investors, can result in volatile price movements. MicroStrategy, known for its substantial Bitcoin holdings, has seen increased volatility in tandem with Bitcoin’s price fluctuations, making it a prime target for speculative trading. Additionally, analysts are observing a potential megaphone top pattern forming on NASDAQ:MSTR ’s stock chart. A megaphone top, also known as a broadening formation, is a technical pattern that signals increasing volatility and wider price swings, typically seen as a precursor to a market reversal. It forms when the stock price reaches higher highs and lower lows, resembling a megaphone shape. This pattern indicates growing indecision among investors, which could lead to a sharp decline once the uptrend breaks. The combination of a short squeeze and a megaphone top pattern points to a high-risk trading environment for MicroStrategy in the near term, warranting caution for investors.
NASDAQ:MSTRShort
by elwinjoeri
7
ALB heating back upAfter breaking down from a falling wedge, ALB undercut a long term support line and things looked precarious. Recent weeks have thrown a lifeline to the beleaguered shares with news of China's CATL cutting lithium production and now Rio Tinto's Arcadium takeover bid . The Rio Tinto bid could have gone another way, since the bid in ALB's stock late last week centered around speculation they could be the acquisition target. It wouldn't have been surprising to see shares slump this morning, but the rally is in tact. Featured here is the 4 hour chart, where we can see the price has broken through the 200 period moving average. Next up is a golden cross on the short term chart, and we're also looking for the daily chart to register an overbought reading to further validate the rally. Often times overbought signals a near term pullback, and that would be unsurprising. These cupping patterns can have violent breakthroughs or breakdowns as the price tries to penetrate to the upside. Be patient. It may take a few weeks for momentum to build, but taking a step back to the montly chart we can gauge the potential of the rally that could well be underway. The $120's gets us back to the range before things broke down recently, that area looks very likely, and for the more patient $140 would take us back to the highs of 2017.
NYSE:ALBLong
by quickshiftinn
Riding the AI WaveSuper Micro Computer is building strong bullish momentum, with a gap forming at the $45.00 level. A break through the $67.10 resistance level would confirm further upward movement, pushing the stock toward the daily resistance at $101.40, and eventually the weekly resistance at $122.45. With a favorable 6.21 risk-to-reward ratio, this trade offers a compelling opportunity to capture significant upside while maintaining a stop-loss at $35.70 to manage risk. As the demand for high-performance computing, AI, and cloud infrastructure continues to grow, SMCI’s leadership in these sectors strengthens its bullish case. The company’s consistent innovation in server and data center solutions positions it well to capture future growth, supporting its trajectory toward the $122.45 target. NASDAQ:SMCI
SLong
by aford4141
4
Louisiana-Pacific Corporation Resistance: There is resistance around $109.73 (based on the chart label on the right). The stock is nearing this level, so a breakout above could signal further bullish momentum. Support: A strong support zone seems to lie between $92 and $96 (from the previous lows in late September) The stock is in an uptrend with strong momentum but approaching resistance at around $109.73. If it breaks through this level, it could push higher, but if it reverses from here, the lower Bollinger Band could provide support. Given the wide Bollinger Bands and recent volume, volatility is high, which may present opportunities for both bullish and bearish trades depending on market conditions.
NYSE:LPXLong
by Sahrin
Technical Analysis of Nike (NKE)Looking at Nike ’s stock on a monthly timeframe, we can clearly observe that it has been in a downtrend since November 2021, following the formation of a Double Top pattern, confirmed by the development of a Shooting Star candlestick. The downward movement has currently paused at a support level (SUP) in the $70 area, where the stock has shown a reaction. At the moment, the stock is trading near a crucial volume level, the Point of Control (POC). Above this level, up to $110, there are significant volumes that could make upward movement more challenging. Bullish Scenario For a bullish scenario, the stock needs to break above the current POC level and the descending trendline. The first target could be the resistance (RES 1) around $110. If it successfully breaks through this resistance with strength, the second target could be the $130 area (RES 2), which has acted as both support and resistance in the past. Bearish Scenario However, if the stock lacks the momentum to break through the POC and the entire high-volume area up to RES 1, the downtrend could continue, with the next support (SUP1) located around the $50 area. This analysis outlines both bullish and bearish scenarios for Nike's stock, offering a clear view of the key price levels to watch.
NYSE:NKE
by Giovanni_Bandini
SUPERMICRO. BUY WHEN THERE'S BLOOD IN THE STREETS.The worse the market - the greater the opportunity to profit it gives. This seems to be the credo of contrarian, or counter investing. Nathan Rothschild, a 19th-century British financier and member of the Rothschild banking family, is credited with saying: “The time to buy is when there’s blood in the streets.” Whether or not Rothschild actually uttered this famous line, it reveals an important truth about betting against market psychology. When prices are falling and markets are shaky, bold contrarian investing can yield big returns. Key Takeaways 👉 Contrarian investing is a strategy that goes against prevailing market trends or sentiment. 👉 The idea is that markets are subject to herd behavior, fueled by fear and greed, which causes markets to periodically overprice or underprice. 👉 “Be fearful when others are greedy, and be greedy when others are fearful,” said Warren Buffett. This phrase embodies a similar philosophy, perhaps just in a slightly more succinct form. Historically, market panics can be a great opportunity for cheap investing. Most d̶u̶m̶b̶a̶s̶s̶ ̶ people want to have ONLY WINNERS in their portfolios, but as Warren Buffett warned, “In the stock market, you pay a very high price for a happy consensus.” In other words, if the crowd is unanimous in agreeing on an investment decision, it’s probably NOT A GOOD ONE. Going Against the dumbass Crowd Contrarians, as the name suggests, try to do the opposite of the crowd. They get excited when a good company’s stock price drops sharply and unfairly. They swim against the tide and assume that the market is usually wrong at both extreme lows and highs. The more prices fluctuate, the more delusional they think the rest of the market is. Contrarian investors believe that people say the market is going up when and why they are fully invested and have no further buying power. At that point, the market is peaking and should be going down. When people predict a decline, they are already sold out, and at that point, the market can only go up. For this reason, contrarian thinking is great for figuring out whether a particular stock has actually bottomed. Bad times build wealth 😬 Contrarian investors have historically made their best investments during times of market turmoil. During the 1987 crash (also known as Black Monday), the Dow Jones Industrial Average in the US fell 22% in one day. 😬 During the 1973–74 bear market, the market lost 45% in about 22 months. 😬 The September 11, 2001 attacks also caused the market to fall significantly. I AM CERTAINLY NOT AN ADVOCATE OF VIOLANCE But the list of facts goes on and on. And these were the times when contrarians found their best investments. 😬 The 1973–1974 bear market gave Warren Buffett the opportunity to buy a stake in the Washington Post Company, an investment that subsequently rose more than 100 times its purchase price. That’s before dividends. Buffett said at the time that he was buying the company’s shares at a deep discount, as evidenced by the fact that the company could “sell (the Post’s) assets to any of 10 buyers for at least $400 million, probably considerably more.” more." Meanwhile, the Washington Post's market cap at the time was just $80 million. In 2013, the company was sold to Amazon CEO and founder Jeff Bezos for $250 million in cash. 😬 After the 9/11 attacks, the world stopped moving for a while. Let's say you were investing in Boeing (BA), one of the world's largest commercial aircraft makers, during that time. Boeing's stock bottomed out just a year after 9/11, but since then, it has more than quadrupled in the next five years. Clearly, while 9/11 may have temporarily soured market sentiment on the airline industry, those who had done their research and were willing to bet on Boeing's survival were well rewarded. 😬 Sir John Templeton ran the Templeton Growth Fund from 1954 to 1992, when he sold it. For every $10,000 invested, into an A-share fund in 1954 would have grown to $2 million by 1992 with dividends reinvested, or an annual return of about 14.5%. Templeton was a pioneer of international investing. He was also a serious contrarian investor, buying into countries and companies when, according to his principle, they reached their "POINT OF MAX. PESSIMISM." Four years later, he sold the stock for a huge profit. The Risks of Contrarian Investing While the most famous contrarian investors bet big money, went against the grain, and succeeded, they also did a lot of research to make sure the crowd was wrong. So when a stock takes a big dive, it doesn't prompt the contrarian to place an immediate buy order, but to figure out what caused the stock to fall and whether the price drop is justified. Knowing which distressed stocks to buy and sell once the company recovers is a major concern for contrarian investors. This can lead to stocks that deliver much higher returns than usual. However, being overly optimistic about hyped stocks can have the opposite effect. Final Points. 👉 While each of these successful contrarian investors has their own strategy for evaluating potential investments, they all have one thing in common: they let the market give them deals instead of chasing them. 👉 What's next for Supermicro stock? Who knows, who knows.. It's very individual and depends on what you're looking for... opportunity or denial. 👉 The current 6-month return on investment in Supermicro stock is -58.44% - a pretty rare occurrence for SMCI. This has never happened before.. even in times of WFC, Covid-19 or smth else. Indeed, several times 6-months returns were quite negative for SMCI. Then Supermicro shares doubled or even tripled in price in just several next years. What principle and style of investing do you adhere to?! Please share your comments and feedback in the box below! 👇👇
SLong
by Pandorra
$NVDA Shows Strength - Despite $SPY Weakness!Overall, NASDAQ:NVDA was the name to pay attention to today. Even though the AMEX:SPY traded to the downside, NASDAQ:NVDA held strong with a push above $130. The chart is giving us a clear picture of potential upside if they continue to grow and market the business the way they have. Potential political headwinds are not to be discounted quite yet. This trade carries risk, however, my cost-basis is below $20/share so I'm not sweating it. IF NASDAQ:NVDA continues on this upward trajectory - we should see $170/share by early next year. IF NOT - we can get another great dip buy opportunity in the low $100s.
NASDAQ:NVDALong
by PennyBois
2
long $HAL on double bottom pattern, bullish sentiment for crudeI am going long NSE:HAL via options for the following reasons: NYMEX:CL1! closed the week before last at the second lowest level of the year. The following week, i.e. last week, oil emphatically rejected these lows with a 10% gain, showing the highest weekly trading volume of the year. This move continued today with another 3.7% gain. I believe that drilling activity is close to a bottom. Last week Baker Hughes reported 479 oil rigs in operation in North America. That's the second lowest weekly number since the beginning of 2022. I don't see Western countries ending their embargo of Russian oil any time soon, there's the potential for Israel to strike Iran's oil export infrastructure, the Strategic Petroleum Reserve continues to hover near 16-year lows, and there's always another hurricane brewing in the Gulf of Mexico. With all that going on, I believe that US producers will be smart to put a few well completions into their back pockets, just in case. NSE:HAL is the cheapest of the big three oil services companies on a fwd EV/EBITDA basis. Management expects 2024 FCF to grow at least 10% from 2023 (analysts penciled in 20% growth), and they expect drilling activity to increase in 2025 from 2024H2 levels. NSE:HAL currently presents a double bottom pattern on the daily chart. Since 2021 these patterns have had a very high probability to hit their target for $HAL. I think this trade is attractive on multiple time horizons. Mine is relatively short (I expect to be out before the Nov 7 earnings release). This is no recommendation, of course. Please do your own research.
NYSE:HALLong
by matthias
1
$UWMC - Watch for that supportNYSE:UWMC is currently sitting on the 200 DMA. It looks like it might check back to the trendline. The $7 area should provide decent support as it is the intersection of the Fibonacci, Point of Control (POC), and the trendline. If that support fails, we could see it pull back to the $6.29 to $5.48 area. The RSI has just entered oversold territory, so I would watch the $7 area for a potential bounce. 👀 As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.
NYSE:UWMC
by PaperBozz