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Take-Two: Keep at It!Take-Two recently hit a new all-time high but quickly pulled back. While the stock tried to recover, it encountered renewed selling pressure. With that all-time high, it came close to the lower edge of our beige Target Zone between $241.59 and $257.87. In our primary scenario, we still expect this zone to be reached as part of the beige wave b. However, there’s a 33% chance the stock will fail to make it there and instead turn lower early—forming a premature corrective low for the blue wave alt.(II) within the blue Target Zone between $107.47 and $46.
NASDAQ:TTWO
by MarketIntel
1
Palo Alto Networks: Countermovement or Breakout?Palo Alto has faced increasing upward pressure and has been noticeably pushed higher. Thus, the stock is ogling our alternative scenario, which envisions a direct breakout above the resistance level at $207.24. In this 30% likely scenario, we would attribute the last low to the beige wave alt.IV and prepare for a new high of the blue wave alt.(I). Primarily, however, we classify the recent gains as a countermovement and locate the stock already in the bearish blue wave (II), which should settle its low within the blue Target Zone between $104.74 and $55.73; prior to that, the price must fall below the support at $130.04. After the wave (II) low, a new (wave (III)) uptrend should begin and eventually lead to new all-time highs above $207.24.
NASDAQ:PANW
by MarketIntel
Zscaler: BalancedZS has seen buyers and sellers largely balancing each other recently, preventing any significant moves in either direction. As a result, we continue to place the stock in a corrective rally as part of the magenta wave , with its high anticipated above the $259.61 resistance. However, if the price falls below the $153.70 support, the ongoing corrective structure will extend further, with the turquoise wave alt.X establishing a new low. This alternative scenario carries a 35% probability.
NASDAQ:ZS
by MarketIntel
Cloudflare: ProgressCloudflare has demonstrated impressive upward pressure, surging more than 40% in just a few days. In response, we now consider waves 3 and 4 in green as finished and locate the stock in the final stretch of this impulse move, which should ultimately complete the orange wave iii. Given that key expansion levels have already been reached, we expect the wave iii high to form soon. Afterward, we anticipate a sharp wave iv correction, with downside potential toward the $122.68 support.
NYSE:NET
by MarketIntel
Palo Alto Networks: Top Established!PANW reached a new peak at $207.24 on December 16. Although the price briefly moved above the significant $200 threshold, it failed to gain traction at higher levels. Thus, we now consider the top of the beige wave B as established and position the stock in the third and final stage of the larger wave (II) correction. From the wave B peak, the stock has already seen a pullback of approximately 20%. We anticipate that this downward movement will continue and ultimately reach our blue Target Zone between $104.74 and $55.73, where the ongoing downtrend should find its bottom. In our alternative scenario, we assign a 30% probability to an immediate breach of the resistance at $207.24. In this case, we would have to reckon with a new high of the blue wave alt.(I).
NASDAQ:PANW
by MarketIntel
Can WIMI an IT penny stock hold above a dollar per share ?WIMI rocketed from 60 cents to $1.50 two days ago and then fell to 93 cents near to the Fib 0.62 retracement which is greater than the typical. The idea is on the chart. So the analysis is a symmetrical triangle pattern with a high normal retracement now at the apex of the triangle with quick compression on the 15 minute chart. Volume is now. Friday afternoon had a pullback likely to rake profit for the weaken. Money flow and relative strength are decent but settled down. So will this penny awke up next week and try to move toward its high of the week or will it fall lacking attention from distraction by technology stock earnings reports and a crypto-sruge. To be sure, this is not an earnings play. There was a highly significant news catalyst early in the week. This news is a possilbe game changer. Over the intermediate term, despite any analysts' forecasts this could do 10X by summer. As to next week, who knows but with an overshoot on the retracement and now below the the mean VWAP band anchored to the beginning of the week. I am voting for a reversion to the mean which just happens to be 1.00 ( a convenient "psychological level.). As to a trade setup, a will take a big lot of shares from a buy stop set for 1.01 with a stop loss of 0.97 and see if I get filled.No matter, this will be a swing trade for me. I will do adds at the low of the week each week for several. I understand the news catalyst and believe this penny IT will get a begin growth spurt in little time at all.
NASDAQ:WIMILong
by AwesomeAvani
Endurance Tech - Amazing 2 Cups of Morning Hot CoffeeYesterday after market close - we published chart of Nifty IT stating the IT Sector would snap the 5 day Fall and would bounce back today Reasons for IT bounce: Double Top neckline Support (not broken) 2 support lines from the Gap Up candle (one support at top of Gap and one at bottom) Good rejection seen from DT neckline + both ends of Gap - and price closed just above the Support lines Overall Indian markets turned bullish across all sectors despite weak Global cues from US, Europe & Asia Today - as predicted, NIFTY IT index rose 1.35% in the morning taking all IT stocks sky high Endurance Tech: Double Cup & Handle Pattern (one on Weekly & one on Monthly) gave me the Morning Boost of Caffeine already :) Monthly: Large Cup & Handle (Slanting) with BO above 2350 and Target 3800 Weekly: Inside the larger Handle - on weekly scale another Cup & Handle was formed and BO already done 2 weeks ago with target of 2450. Today's rejection is from the Larger C&H Trendline - which is also expected. One Cup of Coffee done - another one pending :) Keep holding your winners. Remember - we (Stocks-n-Trends) are NOT SEBI registered entity and our focus is not to provide calls. We rather Teach you how to use Technical Analysis to make money yourselves. Learn to Ride the Tide whatever be its Side :) - Team Stocks-n-Trends
NSE:CNXITLong
by Stocks-n-Trends
WIPRO- Hourly/Daily/Weekly Timeframe-Channel/Tringle patternNSE:WIPRO WIPRO has beaten so badly in last few months. The stock is near major support levels. The Sellers are trying to push it however somehow it is holding its levels. Weekly : It has formed double bottom (355-360 level) at the bottom of the channel. As per weekly chart 370-380 was earlier resistance from where we saw sharp buying. Now it is retesting these levels and holding it from past 2 days. Besides it’s a .5 Fib level as well. Daily : On 26th June there is a rejection from the bot (Hammer) which indicates 370-373 is strong support levels. Hourly : From past 3 days it’s consolidating between 378-390 in tringle pattern. On Friday 30th June if we see a bullish price action near these levels it’s the best time to go long with small SL. For positional traders SL should be around 370. This is only for educational purpose, please manage your risk accordingly.
NSE:WIPROLong
by Rushikesh_09
TECHMAHINDRA - NSECo website- www.techmahindra.com India's 6th largest IT company-- Communication, Media & Entertainment, Retail & CPG, Healthcare & Life Science, Banking & Financial Services, Transport, Hospitality & Logistics and Manufacturing & Utilities 150000 professionals across 90 countries, market cap 1.1lc cr ( $13.5 BILLION ) , 10% Sales growth yoy, virtually debt free, 64% free float. Inr - usd trading @ 82, future results to benefit from forex flux. Bet you know someone who works there ;) Setup is clean, money punted in. LFG
NSE:TECHMLong
by EVOQUE5000
Happiest Mins - Positional TradeThe stock formed a Bullish Engulfing candle in the month of July 2022, since then the stock has been consolidating within its range i.e 813 - 1027 . It's been 3.5 months and the stock has been moving in the said range, suggesting that it might be getting ready for a trending move. Since the first candle (July 2022) is a big bullish candle, followed by consolidation, chances are high that we gonna probably see a trending move on the upside. The current risk-reward also looks favorable for this positional trade. CMP:992 Target 1200, 1300- 1350 Stop: Below 940 or 900 ( as per risk capacity) Immediate support @ 955-944 Immediate resistance @ 1000-1015. One can time trade on the basis of an hourly or daily chart. Disclaimer : Trade at your own risk
NSE:HAPPSTMNDSLong
by manuagarwal21
1
Wipro formed Spinning Candle at weekly supportWipro has been respecting the 400- 385 zone for the past many weeks. And this week, it formed a spinning pattern at the same support zone. Now the chances are high that above 400 levels, it could test 420-430 levels in no time. On the hourly timeframe, we could see price forming double bottom formation, now sustaining 392, it could move toward 400 levels initially. 400 level may act as temporary resistance and any breakout above this level, the stock would most likely be moving towards 420-430 levels.
NSE:WIPROLong
by manuagarwal21