Entrepreneurial SpiritIs this stock going to go up to Complete the other Leg of the 'W'? Pretty low risk Trade, imho. Let's make some greenbacks guys!!
Basing
Is $MDXG ready to move higher from here?Mimedx Group Inc ( NASDAQ:MDXG ) Analysis
Sector: Healthcare - Biotechnology | Country: USA
Company Overview:
Mimedx Group Inc, operating in the dynamic biotechnology sector, holds a prominent position in the healthcare industry. With a focus on innovation and biotechnological advancements, the company plays a crucial role in shaping the future of healthcare solutions, contributing to its prominence in the small-cap segment.
Performance Metrics:
NASDAQ:MDXG showcases compelling signals and robust performance metrics within the small-cap segment, underscoring its potential for growth and resilience in the biotechnology sector.
Relative Strength: Exhibiting a strong relative strength of 6.49 against the sector and 2.48 against the S&P500, NASDAQ:MDXG demonstrates significant outperformance, emphasizing its competitive advantage and market positioning.
U/D Ratios: With U/D ratios standing at 1.42 (50 days) and an impressive 4.92 (15 days), NASDAQ:MDXG reflects positive market sentiment, highlighting recent bullish activity and supporting a favorable outlook.
Detected Base Depth: A robust detected base depth of 50.88% signifies a substantial foundational level, indicating potential for significant upward movement.
Price Dynamics:
The last closing price's deviation of -7.09% from base resistance suggests a current undervaluation, positioning NASDAQ:MDXG strategically for potential breakout opportunities.
Current volume, standing at 26.95% above the 15-day average, indicates heightened investor interest and active participation, contributing to a positive sentiment among market participants.
Recent candlestick patterns reveal a 1.4% range in the last candle body and a solid 64.0% closing range, indicating recent price stability and a robust closing stance.
Short-term Trends:
Over the last 10 days, NASDAQ:MDXG has experienced a rising price, accompanied by increasing volume and accumulation. This alignment suggests a bullish sentiment among investors, supported by short-term positive trends.
EMA Analysis:
Historical EMA patterns indicate that NASDAQ:MDXG typically encounters local tops when the price closes around 52.01% above its 50-day Exponential Moving Average (EMA). Currently, the last closing price is 13.33% away from the 50 EMA, providing insights into potential correction levels.
Trade Idea:
With an entry point set at $8.09, the trade idea presents an early entry opportunity based on current market dynamics.
A disciplined stop loss at $7.77 mitigates risk at 4%, aligning with prudent risk management principles.
The trade targets an attractive 9.62 Risk-Reward (RR) ratio, with a target price of $11.2, anticipating a total profit of 38.48%.
Conclusion:
Mimedx Group Inc ( NASDAQ:MDXG ) emerges as a promising player in the biotechnology sector, backed by impressive relative strength, positive short-term trends, and insightful EMA dynamics. The proposed trade idea aligns with an early entry strategy, presenting an attractive risk-reward profile for investors seeking opportunities in the evolving landscape of biotechnological advancements.
Bearish set up in the dollar $DXYThe dollar has been basing below the 200-day MA.
If you don't see it, flip the chart and you will see a bullish valatility contraction pattern.
For me this should resolve to the downside to continue its downtrend.
This would be good news for stocks.
Is $ARCB ready to start coming up on the right side of its base?Notes:
* Very strong up trend since March 2020 on all time frames
* Great consistent earnings since 2020
* Basing for the past ~9 months now
* Broke above and retested $86.7 which has acted as a pivotal area for bulls and bears
* Consolidating just above $86.7 for the past ~4 weeks with decreasing volume
* It was consolidating around the bottom of its base with decreasing volume as well; meaning sellers lost steam
Technicals:
Sector: Industrials - Trucking
Relative Strength vs. Sector: 4.04
Relative Strength vs. SP500: 5.53
U/D Ratio: 1.32
Base Depth: 86.73%
Distance from breakout buy point: -28.74%
Volume 1.77% above its 15 day avg.
Trade Idea:
* You can enter this now as the price is close to its 50 day line and it's also close to the broken resistance of $86.7
* If you're looking for a better entry you can try catch one around $86.7 as that should hold as support moving forward
* This stock usually has local tops when the price closes around 27.14% above its 50 EMA
* Consider selling into strength if the price closes 26.94% to 27.34% (or higher) above its 50 EMA
* The last closing price is 7.21% away from its 50 EMA
$FPI is coming up on the right side of its base!Notes:
* Strong up trend
* Not the best earnings record but the last report was really good
* Creating a base within a base
* Recently broke above historical highs of 14.42
* Increasing volume since the last earnings report
* Recently bounced off of the 50 day line with bullish price action and volume
Technicals:
Sector: Real Estate - REIT - Specialty
Relative Strength vs. Sector: 1.23
Relative Strength vs. SP500: 2.49
U/D Ratio: 1.25
Base Depth: 22.36%
Distance from breakout buy point: -9.29%
Volume 57.34% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just coming off of the 50 day line with increasing volume
* If you're looking for a better entry you can look for one around the 14.42 area as that should serve as support moving forward
* This stock usually has local tops when the price closes around 18.47% above its 50 EMA
* Consider selling into strength if the price closes 18.27% to 18.67% (or higher) above its 50 EMA
* The last closing price is 4.8% away from its 50 EMA
ENSUSDT Breakout and TargetsSo I wanted to put out a chart on this yesterday when I noticed it was breaking out, but I was too busy. It actually ran a lot faster than I thought it would. Anyways, here are the targets that are moving upward from the basing pattern that was formed. This basing pattern will likely give us further targets in the future. Thanks again everyone!
ICPUSDT Descending Wedge and TargetsHere is an asset I have been watching. Though they had a bit of fallout due to the day 1 insider selling, this platform is still being used. I am expecting a breakout from the descending wedge and making its way up to the first target. However, there will likely be a lot of consolidation prior to moving to the 2nd and 3rd targets. Keep an eye on this asset and lets see how it moves. Thanks again everyone.
VETUSDT Cup and Handle TargetAnother quick chart for you guys! This is another asset I have mentioned to my followers in the past. It has started to break out after its consolidation. The target provided was made from the last cup and handle pattern we saw. The target is 20 and was made by adding the depth of the cup to the top of the pattern. I believe this asset will fair very well during this last leg of the bull run. This is only the first target by the way. When we have some other patterns, we will be able to create future targets.
Thanks again everyone!
CRVUSDT Ready to Start the MoveThis is another asset I have been talking about to my followers. I have been watching the consolidation closely and it looks like it is ready to start moving soon. This asset is great because it has an overall large target and a long year and some change basing pattern that has formed. I have put the first target on the chart but I expect this to really move when things get going. The target comes from the flagging pattern.
Thanks again everyone.
Tomorrow I will pick another asset I think will be great. Maybe KDA. I am still deciding. Cheers!
MTVUSDT Basing Patterns Minor TargetImportant Things To Note:
Multiple basing patterns are fueling the engines for this asset.
Minor Target of 0.37.
I expect this asset to move heavily this alt season
ETH just made ATH, alts will start to follow.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
So, anyone that follows me knows I love MTV. Their metrics look great, however I wish they would do a bit more marketing. Despite that, I still expect this asset to do well the last leg of this bull run. There are plenty of basing patterns which should fuel the upward momentum. There is a minor target of 0.37 from the last cup and handle. My followers wanted me to do charts on my other assets I mention so here it is! If you can't tell why I like it by now, just look at the chart. Enjoy!
ADAUSD ascending Channel Creates Basing PatternImportant things to note:
BTC Flagging for another push.
Altpairs led by ETHBTC are starting to move.
ETH completed IH&S and moving up, alts will follow once bullish trend established. (over 4024).
ADA is range bound in slight ascending channel.
Ascending channel creating basing pattern.
Expecting small break to downside followed by bounce.
Bounce will create 2nd part of cup.
Cup pattern will be base for future targets.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Hey everyone! Today will be quick because there is not too much going on. Btc is flagging for another push upwards. Altpairs led by ETHBTC are gaining steam and looking great. I have told you in the past, big investment money is rotating into alts for the coming altseason. I know this for a fact. ETH completed IH&S pattern like I mentioned before and it is starting to move. I figure alts will follow slowly once it closes above 4024. ADA is currently range bound in a slight ascending channel. This is great because you can see it is forming its basing pattern. I expect a break but I do not think it will be too dramatic. I think there will be a nice bounce off of support from the break which will create the 2nd half of the cup pattern. This is very important because the cup can easily turn into a cup and handle and be used for future major targets. This is what I am looking for at the moment. The worst case scenario for all of this like I said before would be a move to the diagonal support and a brief touch of the 200MA but that doesn't seem likely right now. We will take it day by day and see what happens. Well, that's it for today! Thank you all for the support and if you have any questions let me know. I will continue to watch ADA and update you all accordingly. Cheers!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
ADAUSD Creates Strong Basing PatternImportant things to note:
BTC has reached the level I have mentioned previously 48K (it will need to retrace properly and hold for confirmation).
If BTC confirms level, it will confirm end to pullback. (likely scenario).
ADA will test 200MA as its final real test.
ADA will either pass the test and run to 2.86 (likely scenario) or be denied and move to 2.2.
Either scenario will likely signal the end to the pullback.
Basing pattern formed.
Test of 200MA likely to produce handle.
My major target is still 3.25.
None of my targets have changed.
Important Dates to Take Note of:
ADA Summit Sep 25-26 2021 (likely to produce more important dates)
So, BTC has made its important move to 48k. Now it will have to retrace properly and hold 48 to signal the end of the pullback. ADA will correlate to this by testing the 200MA on the 1H which will confirm the direction and signal the end of the pullback. The best case and most likely scenario is ADA passing the 200MA test and moving to 2.86 (minor target). It will have to break through the resistance at 2.78 to do this but it will be the 3rd touch so it makes perfect sense. The worst case scenario is that ADA will fail the test move to 2.2 which will likely produce a bounce (because the 50MA is at 2.2 on the 1D) and likely signal the end of the pullback. So really, either way looks fairly good to me. I still have my major target of 3.25 which was backed up by 2 separate cup and handle patterns. Speaking of cup and handles, the next test successful test of the 200MA will likely produce a handle for our new basing pattern that formed. Right now, things look great. We will see how everything goes. Just remember to be patience and understand that the fundamental of ADA are extremely strong. The crypto market is extremely bullish and we will likely see extremely high highs before it ends. Thank you to everyone for being patience with me while I study. I will continue to keep an eye on ADA and update you accordingly. Thanks again!
Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know!
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
ADAUSD Reversal Could be Around the CornerImportant things to note:
ADA has created a rather nice basing pattern
Has 2 higher highs, 1 proper retracement
1 more proper retracement will signal reversal
Price has broken through its resistance at 2.57
BTC has made bullish price decision
Important Dates to Take Note of:
ADA Alonzo (smart contracts) go live Sep 12 2021
ADA Summit Sep 25-26 2021
So, things are looking up for ADA at the moment. We have a strong basing pattern and a good amount of consolidation at the 2.40 level which created more support. Price has made 2 higher highs and though we only have 1 proper retracement for the movement, we have a hint to where the price may retrace to. If that retracement occurs and settles at a level noted on the chart, a short term reversal will be signaled. The base that has formed will likely give it enough momentum to push forward. Overall, the market doesn't look bad but things can always change. I would like to see more volume. However, once a reversal signal occurs, you can expect bulls to return to the asset. ADA was in deep waters due to the liquidation event, and showed for now that it can pull through which is a very good sign if you are long on the asset. Things are looking good, and I would like to see further consolidation before the asset decides to move forward. I will continue to keep an eye on the asset, if you are worried about further pullbacks, set your alerts on the chart at the support level. Personally, the price is a little too high for me to enter again, so I will likely find another promising asset to throw money at (there are plenty right now). I will continue to watch ADA and update everyone as much as possible. Again, try to remain calm, be patient, and realize that movements like this happen regularly. You always have time on your side.
lso, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know!
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
ADAUSD Gets Massive Amount of Help From BTCImportant things to note:
Price has tested main support
Price has tested 200MA
Basing pattern may form, watch for handle
BTC's movement upward to 55k is allowing ADA to consolidate at support
If new high is created we will have perfect ascending wedge
New trendline created with lowered slope
My upside target is 3.16-3.24 (profit taking)
My downside target is 2.5-2.2 (entering)
Important Dates to Take Note of:
BTC becomes legal tender in El Salvador Sep 7 2021 (3.5 hours from now)
ADA Alonzo (smart contracts) go live Sep 12 2021
ADA Summit Sep 25-26 2021
I must keep this a little shorter than normal because I am currently strapped for time. If we look at the chart, we can see ADA has tested the main support level and has been denied which has caused ADA to start forming a basing pattern. However, it has also tested the 200MA and got rejected with a long wick. This consolidation is due to the fact that BTC is on the way to test the 55k level at the moment. If you take a look at the chart you will see that this is the same thing that happened Sep 1st. If consolidation is allowed to continue, ADA will form a basing pattern which it can use as a springboard to a new high. This means I may get my 3.16 - 3.24 minor target to pinch some profit from. However, this new high will also create a perfect ascending wedge which will let us know that ADA is overdue for a pullback (if you couldn't tell already by the trendline break). So that being said, there may be a tad bit more juice left in ADA at the moment before it decides to pullback, which it surely will at some point. Let's say BTC fails at closing above 55k, this may be the catalyst for the pullback so if you are worried about it, just set an alert at your support level. If the price crosses support, wait for confirmation before making any rash decisions. I will continue to watch ADA and update you regarding the price movements. Keep an eye on the basing pattern and set an alert for the main support!
Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know!
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
ADAUSD Forming Basing Pattern with BTCImportant things to note:
BTC closed above 51K, likely to test 55k next.
ADA tested main trendline twice and produced long wicks
Started moving back up into a basing pattern (happens prior to price move)
Short term target 3.16-3.24
Volume filling
Pullback overdue, ADA shows oversold on weekly.
ADA price sitting right above main trendline
Important Dates to Take Note of:
BTC becomes legal tender in El Salvador Sep 7 2021
ADA Alonzo (smart contracts) go live Sep 12 2021
ADA Summit Sep 25-26 2021
Well, like I said earlier charts, ADA can either break the main trendline or form a basing pattern which will produce a minor target of 3.16-3.24. This was due to the fact that BTC proved it can close above 51k. This tells analysts that the price of BTC will test 55k next. This will be great for the overall crypto market and will help some altcoins more than others, for example LTC. Now, if you take a look at the chart, you will see that there were two separate tests of the main trendline that produced rather long wicks which tells us that people were willing to buy at that level and not much selling was happening there. However, this could have easily taken a turn for the worst if BTC did not close at 51k. The volume is filling nicely where it needs to. There will likely be a pullback in its future, however we will take it day by day and not lean too far in either direction. I realize that there are some of you out there that have not entered in ADA yet and would like to. I cannot tell you what you should do. What I can tell you is that right now ADA just escaped a pullback ever so slightly and will need to push upward to give it some breathing room. There is a basing pattern forming right now, that is when people usually enter the market, at a support. If you want to enter now is completely up to you. I have given you the upside target, and by now you should know my downside target. I personally will not be entering because I do not want to average up that high, I want to wait for a better price. I realize that a pullback will come sooner or later and I am a very patience person with a risk tolerance far lower than most people. My risk tolerance has kept me safe, so it is something I trust very much. However, everyone's risk tolerance is different, and that is why I consider investing an extremely personal pursuit. What is right for me may not be right for you, and that is ok. So, if you are thinking of entering, there is a basing pattern forming as we speak, this occurs before a push upwards. The overall market is likely to continue upwards until BTC tests 55k (of course there will be a little retracement along the way). Just be aware of the risks; the slope is flattening, there has not been a significant pullback yet, the trendline was just tested and the price is currently not too far away from it. I am going to sit this one out because I already have a substantial amount of money in ADA at a good price. I have about 5-10 grand more I would like to contribute at some point, but now is not the time for me. That being said, I will continue to monitor ADA and if you have any questions, feel free to ask!
Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time.
Again, I apologize for having less time to post at the moment, but that will change in a couple weeks.
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Gopro - BasingThis chart looks very similar to the ETH/BTC chart.
Terrible company but I like the R/R.
17.5 is key resistance
CRSP BasingCRSP is basing nicely and the 50 EMA has come down to the 200 EMA and might be ready to turn up.
Could be a bit premature so I will be keeping an eye on it before entering.
Bitcoin in context of price action and volume.I'm contributing some conscious thought to my trading education, and I am trying to get volume in there as a different voice to help me out. Volume is touted as one of the best clues you can use. Unlike every other indicator out there, volume is not a derivative of price. It is a totally seperate voice, that when combined with price action, supposedly, can result in really good opportunities and higher level of understanding what the market is really up to.
I have countered the need to learn volume in my own strategy by trading only futures during the new york hours when volume is relatively great, but like every other thing on this wonderful planet, there are different facets to volume the deeper you go. This is my attempt to lean on it a little harder and see what pushes back.
Rolls Royce about to make a big breakoutRYCEY has consolidated for a very long time in an extended basing period.
Volume has picked up tremendously and a recent low provides a low risk, high reward entry
