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Horizontalsupoort

ADBE near Confluence Support - 33% ROI PossibleNASDAQ:ADBE is currently nearing a confluence support (an area where multiple support elements are combined) at around $410-$420. Nevertheless, opening a first position right now is already an option given the attractive valuation and the horizontal support (blue zone). In addition there are two big daily gaps (red zones) above the current price giving us some potential pulling factor towards $580. The trendline you can see is very weak and has only two real re-tests in October 2022. So, take that with a grain of salt and try to concentrate more on the horizontal support and the $410-$420 area (61.8 fib). Looking at fundamentals (I know most of you are not really interested in such things, but they do help with swing trades) we can see a price-to-sales ratio of 9.xx suggesting upside of 50% when comparing it to the long-term average of 14.xx. ARR increased 23% YoY to $3.48B. In terms of AI, firefly generated more than 16 billion assets so far, and FY24 revenue increased by a little more than 11% to $21.51B. Current PE ratio is just short of 22. So, adding here and more towards that $410 will give us a huge potential ROI over the next couple of months. Support Zones $440 $410-420 Targe Zones $540 $580-600
NASDAQ:ADBELong
by LGNDRY-Capital
2
Higher lows , Higher highs on BTC as Alts take center stageBitcoin has adapted to the zone and is carving out a space that involved an ascending channel and a fibonacci game of tag. We can clearly see that we are in the fib zones on the short frame and as we need to be focused on a pullback, nothing is really giving us the indication that it is going to happen as we have buy orders waiting on the support/resistance areas as the are defined. What this means? I see us in a period of indecision where horizontal action as well as minor movements ladder dancing fib lines until we complete the 4th arm of the elliot wave where investors agree on funding a push to the upside. This is a wait and see. I am not entering any position until clarification
BITSTAMP:BTCUSD
by dasBoot
FFH is going to bounce like a basketball! H&S pattern too!It appears as though FFH is showing two alternatives, an H&S breaking down, or, sideways trading in a horizontal channel, with a breakout likely happening early 2024. A horizontal channel is a neutral chart pattern that marks investor indecision. Buyers and sellers fight, and it is only at the exit of the horizontal channel that they agree on a direction; either there are more buyers than sellers or there are more sellers than buyers; hence the strong force of the movement at the horizontal channel’s exit. This train has left the station.
TSX:FFH
by satoshi123
1
NFLX - Expecting Strong Support @ 380Since it began trendng more than a year ago from July 2022, NFLX has a tentancy to correct back to its rising trendline every 3 to 6 months or so. As at its close @ about 400 yesterday, it has already corrected 50% from it's recent AB swing. Whether it will find support here remains to be seen. Another 5% downside from here would bring it to 380, which is likely to be a strong support due to a confluene of: 1. Long term trendline support (Red) 2. Horizontal Resistance turning Support (Black) 3. 61.8% fib retracement of it's AB swing 4. Gap close (minor) All long bets are off should it break and stay below 380. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NASDAQ:NFLXLong
by Juliac
4
DIS - Testing Long Term Horizontal SupportDIS has tested it's long term horizontal support @ 79 and it is holding so far. A potential bullish divergence is also seen on its monthly chart which increase its odds for some upside bias for the next 1-3 (monthly) candles. The caveat for divergence is that it only signals a (potential) short term trend reversal, lasting on the average 2-3 candles and does not predict a longer term change. If seen on the monthly chart, then it could mean a potential bounce for the next 2-3 months. And of course, while the odds is good, it is not 100%. While now could be a good time to long some DIS at relatively low prices, there is also a chance that the stock could remain ranged bound for a sometime. Some would prefer to wait till there is clearer momentum (usually above its 200 day moving averge) before establishing a long position Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important! Take care and Good Luck!
NYSE:DIS
by Juliac
AMZN - may have come into supportAMZN came into a potentially strong support zone 79 - 84 comprising of a horizontal support area as well as the 88.6% fibonacci retracement of the major covid upswing AB. Some bullish divergence is now seen on it's weekly chart hence there is a good chance that this support of 79 will hold in the near term. However, any bounce from here must still be viewed as short term until we can see that a bottom is clearly in place (usually on hind-sight!). A safer region to consider going long is when it could at least clear near term resistence (101 - 105). Until then. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:AMZN
by Juliac
AAPL - Will support @ 128 hold?AAPL had been the most resilient among the FAANG stocks despite being in a volatile and toppish pattern for months. However it started to break below major neckline support @ 134 on 19th Dec and then an attempt to break the horizontal support @ 128. It managed to close the month with a weekly bullish pin bar above 128 and a potential bullish divergance is also forming between price and RSI on the weekly chart. Hence a near term bounce could happen but any bounce right now is best viewed with a grain of salt until we can see change in the chart structure Any close below 128 is potential for the bear trend to continue towards 110-115. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:AAPL
by Juliac
2
TSLA Major Confluence Long Signal!Going to keep this simple. We have a touch on the bottom of the descending parallelly channel, a major horizontal support line, and the golden pocket. This is a very bullish setup for TSLA to bounce. Stops should be placed below golden pock with the right position size and risk management to protect your account incase the bears manage to push the price through this major support. Love it or hate it, hit that thumbs up and share your thoughts below! Every day the charts provide new information. You have to adjust or get REKT. Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect! This is not financial advice. This is for educational purposes only.
NASDAQ:TSLALong
by rnaofs
Why I opened BTC short when price rejected at 17.4K. Hi everyone, in this analysis I will explain why I opened short position when BTC was rejected at 17.4K level which was upper band of rising wedge/diagonal resistance and 4h 200 EMA. Before that I noticed ABCD pattern which started forming at 15.5K swing low in 22 November/ A point/ and finished at 17256 in 01 December/ D point/. BTC rejected at the mentioned zone with liquidity hunt above D point then strong rejection with bearish engulfing candle=RSI bearish divergence + momentum losing+ rising wedge pattern breakdown. My first target will be at 0.618 fib level /16.5K/ which is horizontal+ diagonal support at the same time. If price can't hold 16.5K C point will be my 2d target for ABCD pattern and 100% projection of CD wave. I don't expect BTC to go lower. If you pay attention to the volume bars, there is no buying pressure. Let's see how BTC reacts at 16.5K support level. Don't forget to put always stop losses. If you like my ideas and analyses, don't forget to follow me please. I will appreciate any single follow. Thanks in advance. Don't forget to check my other analyses bellow related ideas.
BITSTAMP:BTCUSDShort
by ergal91
3
TSLA - due for a bounce soonTSLA is now at a longer term horizontal support zone (168-180), after having retraced 61.8% of it's major AB upswing that had begun in March 2020(see monthly chart). A short term bounce looks to be due as we are now seeing a bullish divergence between price and RSI on it's daily chart, but whether this is "THE" low remains to be seen as the overall trend is still down at the moment. Having said that, the chance that it is bottoming is higher should we start seeing more of the FAANG stocks pivoting. Can only wait and see. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:TSLA
by Juliac
4
JPM: Potential reversal?JPMorgan Chase Intraday - We look to Buy at 109.10 (stop at 104.26) Short term momentum is bearish. Bespoke support is located at 109.00. Price action continues to gravitate towards crucial support levels with aggressive selling interest. Support could prove difficult to breakdown. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 122.26 and 128.00 Resistance: 123.00 / 133.00 / 172.00 Support: 109.00 / 90.00 / 70.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:JPMLong
by VantageMarkets
BTC highly probable scenarios.I'm looking at daily timeframe, BTC has broken daily 34 EMA, and now it is fighting against horizontal resistance at 22.3-22.6K. if BTC succeeds to break it then pink and green scenarios will play out. More likely they will. Of course after breaking the mentioned resistance everybody will open long and wait for 28K, but we' it reaches to 24-25K/ a horizontal rectangle and triple top target/ we'll see retest of the daily trendline and horizontal support at 21-22K with long liquidations, then bounce and retest 28K the most important resistance. As I posted in my previous analysis 28K horizontal resistance and trendline retest is inevitable. For more details check the bellow analysis I attached the link. Don't forget to check my analyses that proves BTC bottomed at 17.5K on 18.06.2022. Like and follow please if you like my ideas.
Long
by ergal91