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Bottomfishing

Downtrends Finding Support for the Next Uptrend: AMAT ExampleNASDAQ:AMAT was over-speculated in 2023 and then had a top formation that trended down starting in July 2024. This is still considered technically to be an intermediate-term trend correction. The selling started at an all-time high. HFTs are constantly in the mix, selling down. However, the shift of sentiment has started and there are gaps up recently. It is NOT in a buyback mode but the stock is finding support from the 2021 highs, which is strong support. This should provide the basis for the beginning of a bottom formation.
NASDAQ:AMAT
by MarthaStokesCMT-TechniTrader
1
Bottom Fishing - TATASTEEL📊 Script: TATASTEEL 📊 Sector: Steel 📊 Industry: Steel - Large Key highlights: 💡⚡ 📈 Right now RSI is trading at 32 stock came out of oversold zone, one can go for Bottom Fishing. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 160 🟢 Target 🎯🏆 - 174 ⚠️ Stoploss ☠️🚫 - 151 ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:TATASTEELLong
by radha_23
1
WIPRO - The IT sector pick with Minimal Downside Risk!Overview: - Entry Point: Current Market Price (CMP) 475 - Target: Around All-Time High (ATH) 740 - Risk-Reward Ratio: With a downside risk of just 10% and aiming for a 50% upside, this trade offers an impressive 1:5 RR ratio. Aiming for a significant upside with well-managed risk. Let's see if we can capture this opportunity right! Stay tuned for updates and trade safely! Happy trading! Disclaimer: This is NOT a buy/sell recomendation. This post is meant for learning purposes only. Please, do you due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:WIPROLong
by SuperNova396
3
Oatly Whats likely, More Price Decline or Bottom reached?Hi Guys. This is a Technical Analysis Update on Oatly, (OTLY). On the 1 Week Timeframe. We are in a critical area for OTLY. We have continued our DECLINE from the REJECTION area With last weeks candle close, We have CLOSED BELOW the "MAJOR SUPPORT" Area. This candle close isn't enough information to assess what comes next. The next week or the next couple weeks we need CONFIRMATION. So its important to observe what happens next. So couple of scenarios can occur: 1. We confirm back ABOVE the MAJOR SUPPORT line. Leading to the formation of a DOUBLE BOTTOM pattern. This would confirm our bottom for OTLY, and we start to move back up to Resistance levels. 2. We CONFIRM our break BELOW the MAJOR SUPPORT. Leading to not only ALL TIME LOWS, but the potential for the DESCENDING Triangle to play out. If thats the case, we can go as LOW as $0.40 cents. But without data points, its hard to assess if we do go down that far or stop before. Notice also the "Bullish Divergence Trendline" on Price action. This line coincides with our "Measured Target". Could be an area where we bounce from and be a potential Bottom area. 3. Ideal scenario would be we come down a bit lower from the Major SUPPORT Line and start our way back up ABOVE "Major Support". This would form a "Head" and play into a potential bottoming pattern, the Inverse Head & Shoulders pattern. The First green circle indicating our 1st bottom of potential double bottom, would be our left shoulder. Watch also the RSI. We are nearing a Support test on the "Bullish DIVERGENCE" trendline. We want this to stay as support. We don't want a break and confirmation BELOW the RED dashed line. It could negate our Bullish Divergence Trend. The STOCH RSI is also something to watch. We have traveled BELOW the 20 level. Extended stay below here, would indicate further Price DECLINES. We would like to see a BUllish cross back ABOVE 20 level for Bullish Momentum to come in and push prices back up. If we do get a cross, then Double bottom is likely. We need to stay level headed as OTLY bottoms out. Take it one step at a time with an objective mindset. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on OTLY in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:OTLYShort
by SafofAllTrades
7
HDFCLIFE NEAR ENTRY LEVELSHDFCLIFE is currently trading near an Good Quality Hourly Demand Zone which is again close to an Weekly Demand Zone ( making the entry zone even more reliable). The Opposing / Target zones T1 and T2 (both previously tested) have been marked in the image with levels and price movement should be observed around those levels. Stop loss has not been mentioned but should be 3% from the lower level of the entry zone i.e. 562 - 3% = 545 (on closing basis in Hourly tf) Note - Please do your own analysis before taking any kind of positions
NSE:HDFCLIFELong
by Bhagesh108
JUBILANT FOODJubilant food, leading in QSR and delivery business of Dominos. Stock can be seen falling from 650 levels and seen lot of correction. Stock was falling due to increase in raw material prices and margin pressure. Now sooner or later prices will come down and pass on to customer. Company has also announced capex and also launching new flavors and products. Stock is in buy mode and also has formed good base. Stock can rally towards 600-800-900 due to World cup and upcoming festival Season. Company hasa good fundmentals.
NSE:JUBLFOOD
by manideepcs024
3
Is Oatly Dead? Is it going to 0?Hi Guys! This is a Technical Analysis for Oatly (OTLY), on the 3 Day Timeframe. New candle starts today So the question here is whether or not OTLY is dead and if its going to 0? It may seem like that but when "Checking underneath the hood" with TA, things become clearer and you can understand whats going on objectively with a level head. So we've come down signficantly from around the highs of $29, about a 95% drop to current prices. And its been alooooong time we've been on this downtrend, about 781 days. In my case though, the question i've been asking with Stocks such as OTLY or SPCE or BYND or CVNA (before the massive run) is whether or not there are signs of bottoming? And with such a new stock, it can be a little difficult to assess since theres not as much data points to go with. But you can still make do with what you got! We are Currently 4 RED candles in, watch the size of our current candle. IF at the CLOSE of this current candle, the body of it is small, that can be an indication of BEARISH momentum decline. Notice how we got our most recent DOWNTREND, it is due to the RED circle that indicates price hitting a convergence of Resistance: 1. the 50 Simple moving average 2. a RESISTANCE trend line from 08/2022. We are now nearing our previous low of around $1.35. Which is MAJOR SUPPORT. Notice the 2 GREEN CIRCLES -> Provided we don't breakdown below $1.35, this can be a DOUBLE BOTTOM pattern. We have to watch the next couple weeks of how we interact with SUPPORT. NOTE: This MAJOR SUPPORT hasnt had 3 touches, which in TREND theory, it states that usually a minimum of 3 touches are needed on trend lines for it to be significant. So, this can be an area we BOUNCE from in the SHORT-Term -> back to the BLACK resistance line or RED Resistance line There is also a RISK of a Descending triangle playing out, where we break below the "MAJOR SUPPORT". Measured Target would be $0.58-0.60 cent level. But again TA is about taking it 1 step at a time. To even think about this i would need: 1. Candle close BELOW MAJOR SUPPORT 2. CONFIRMATION -> In the form of candle patterns -> Re-test of the SUPPORT turned as RESISTANCE and a Rejection back down. It absolutely does not have to play out this way BUT a scenario could be that we bounce from here, test the 08/22 RESISTANCE and come back down to test MAJOR SUPPORT level. It is also possible that we MOVE SIDEWAYS (Within ORANGE Rectangle zone). With the Volume currently in a DECLINE, marked by the BLUE moving average. This means volatility will come down, leading to the probability of sideways action. Now Check out the RSI, we have printed a Lower Low. This could lead to further DECLINE of RSI. WE are also BELOW the BLACK RSI Moving average, which can be indicative of further price declines. STOCH RSI, is making its way below the 20 level. We will have to see how long we stay once we get below it and how low we actually get. Longer we stay below, higher the probability of further declines. MACD -> a momentum indicator, is currently printing RED histograms. This is a BEARISH Signal. We dont want the bars to get massively big in size. CONCLUSION: Price declines of massive proportions can be extremely scarey and a place for capitulation, where people give up. This often times leads to further decline of price. However through all that, if you stay level headed with TA, you consider or pose the question..... Yeah, but is it showing any BOTTOMING signs? OTLY is 95% from its lows, we are currently back to MAJOR SUPPORT. This can be indication of a DOUBLE BOTTOM but in my opinion, its still too EARLY to tell. Especially with indicators still showing signs of a chance for more downside. I would need to see confirmation. Stay tuned for more updates on OTLY in the near future. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
NASDAQ:OTLY
by SafofAllTrades
AUD/CAD low of year analysis. Here is another setup I'm paying attention to.I'm paying attention to how the low gets worked down into my levels if at all and if there are any bounce opportunities when it reaches the 1st or 2nd level. Didn't really put as much analysis on this one compared to the other ones. I'm not really noticing anything other than price moving down into my levels. If anything we are in a weekly breakout and I'm expecting price to push back up in the short term.
Long
by PEAKFINDER
EUR/USD possible deep dig before reversal.My belief for this pair is that price will continue down into the stops of long consolidation periods in January and December. When I see long consolidations, I see very impatient participants. So far buyers been in heat from a down move that lasted 3 weeks. Price is reaching my levels. Truth is that the market may not care about my levels. And that's fine. Maybe it's not meant to be. All I know is that the closer it gets, the higher the probability of it hitting them. So I'm only interested if they are reached. When they are reached and worked down thru, I know that panic is ramping up and I'm paying attention to the large timeframe pattern. My drawing is an overall idea of how I think it will play out so don't take it as a 1:1 ration prediction. I also approach this as a long and steady outlook. Price could easily collapse down but I think it's more likely that the low will be worked long and steadily. I'm not into what's going on with the news, what indicators are showing, whether price action looks weak or strong, and I don't do support/resistance lines. My predictions are based on what I perceive to be more financially adventitious for institutions and right now I see a ton of money below. When everyone is calling a bottom right at or near already established ''support'' my comfortability is much more deeper. FX:EURUSD
Long
by PEAKFINDER
Possible bottom for NZD/USDThis is a similar setup to GBP/USD. I wouldn't expect a deep dig underneath the buyzone.Maybe accumulation and a stops hit below it before reversing. When I'm calling tops and bottoms, that don't mean that price will trend up or down for eternity from there. These are setups I'm confident with to add size into or have a wider stop. I don't know what the market will do but from backtesting, when these levels are generated, there is usually a reversal that follows.Sometimes it's insntantly, sometimes it's over the course of days.I wouldn't enter trades on them especially the first 1-3 levels.
Long
by PEAKFINDER
1
Possible bottom to get into trend earlyI have key levels marked that I'm looking for price to get through. I'm not buying nor selling at these levels. These levels represent a certain distance within a certain amount of time price has moved. When price fulfill these levels and even better overextends past them, I will look for a reversal. This is a swing strategy and where I'm comfortable using a wide stop if I'm confident that the low has been put in well past the last level. I'm also looking at other factors and will mark up the chart of what I'm looking at to confirm my bias.
Long
by PEAKFINDER
2
its time to talk about an intermediate or longer term bottomthis ideais simple. if we hold $20, we will break above $56.89 closing the gap left over from april 4th. what could be better? the doomsayers and prognosticators are all pointing toward recession, but where do you see the pain? its all in the past, and the worst may be behind us. only time will tell, but if this face ripper of a rally continues, bears will be trapped and tutes, mm, smart money will be long (if they arent already).
NASDAQ:TQQQLong
by cerealpatterns
11
How Low Will it Go?!Look to the 2020 correction zig-zag to form bottoming price structure. Getting crushed to capitulation in October would be the usual outcome. Timeline for the bear likely will be in the 9-11 month range, bottoming on October or early November. Typical bear is nine months, rarely >15. RSI would get crushed well under 20%. Short -term oversold condition could provoke a weak rally; short onto any rally going forward imo. Be ready to enter longs in 4th quarter. Do not get onboard too soon, do not FOMO my friends. There will be plenty of time for longs after. Better to miss the bus than get run over by it, eh?! Be wary when bottomfishing! GLTA!!
TVC:SPXShort
by DaddySawbucks
23
DOUBLE LOWER TOP FORMING: CPI COMINGLooks just like Feb 2-10, just playing at lower price. CPI numbers next week can crush this hopium rally. ERs coming later likely to disappoint and guidance has hardly been rosy so far, can't expect much imo. Stupid happy fool rally not getting much higher imo, just another bottomfishing bull trap. Still waiting for capitulation and real panic, dip buyers not fully crushed yet. RSI back at rollover level. Time and price projections suggest a lower low in late July. Follow the TL. Fat Lady didn't sing yet...
TVC:SPXShort
by DaddySawbucks
35
LSPD: One Up Day Is NOT A ReversalLSPD is going to report lower quarterly revenues than last month in next week's earnings results, but its stock is in a sympathy move upward with the rest of the market bounce today. This is a prime example of the need to wait for confirmation of a bottom developing. As always, one up day is not a reversal. It may be the start of a bottom formation, but bottoms can take months to get hammered out. This stock's current situation is a good reason to incorporate some fundamental analysis into your technical studies. There are just a few key things to check. Do yourself a favor and learn to do your own research; upgrades, downgrades and all that jazz is market manipulation. Go look at the press release of the last earnings report yourself to see what the company guided for the upcoming report. Nasdaq.com is a good site for this. I wouldn't short here because it's nearing the end of the downtrend now. I wouldn't buy yet because there's a little further to go before the strong support is reached and a bottom can take a while to develop. PLUS, the knee-jerk crowd is bound to be surprised on May 19th. Meanwhile, the institutions have already accounted for a rough 4th quarter for this stock, but they also know that annual revenues have doubled this year. LSPD is one for a watchlist to wait until the bottom is confirmed.
NYSE:LSPD
by MarthaStokesCMT-TechniTrader
Best buy zones for #Bottomfishing in #HCLTechnologies Good Buy Zone: 950 - 1073 Best Buy Zone: 805 - 950 Add on bounce, not while it is falling. Long Term Portfolio Stock. Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
NSE:HCLTECH
by Happy_Candles_Investment
Best buy zones for #Bottomfishing in #KotakMahindraBankBest Buy Zone: 1500 - 1700 Good Buy Zone: 1700 - 1800 Add on bounce, not while it is falling. Long Term Portfolio Stock. Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
NSE:KOTAKBANK
by Happy_Candles_Investment
Best buy zones for #Bottomfishing in Infosys. #infosys Best Buy Zone: 1450 - 1594 Good Buy Zone: 1594 - 1663 Add on bounce, not while it is falling. Long Term Portfolio Stock. Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
NSE:INFY
by Happy_Candles_Investment
Best Buy Zones for ITC #Bottomfishing Best Buy Zone: 163 - 182 Good Buy Zone: 182 - 205 Add on bounce, not while it is falling. Long Term Portfolio Stock. Tracking Quantity can be taken at 211. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
NSE:ITC
by Happy_Candles_Investment
Hindalco Best Zones for #Bottomfishing in #HindalcoBest Buy Zone: 434 - 472 Good Buy Zone: 472 - 513 Add on bounce, not while it is falling. Long Term Portfolio Stock. Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
NSE:HINDALCO
by Happy_Candles_Investment
Reliance Best Zones For #Bottomfishing Best Buy Zone: 1832 - 2020 Good Buy Zone: 2020 - 2250 Add on bounce, not while it is falling. Long Term Portfolio Stock. Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
NSE:RELIANCE
by Happy_Candles_Investment