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SMCI at a Critical Support: Will Buyers Return?In the daily time frame, SMCI is approaching a key support zone, highlighted in green. This area previously acted as strong resistance, with several attempts to break above it. Although the price hasn’t returned to this zone yet, I believe once it does, buyers could step in again. This level has proven significant before, and if the price revisits this support, it could present a potential buying opportunity. Keep an eye on this zone, as it may signal a shift in momentum if buyers come back. This version reflects that the price hasn’t yet revisited the support zone.
NASDAQ:SMCILong
by WaveRiders2
S&P500 Index Breaks Through Long-Term Resistance on Weekly andAre you ready for some exciting news from the stock market? The S&P500 index is breaking out of a long-term resistance that has been forming since late 2021! That's right, the bulls are charging ahead and the bears are retreating as the market prepares to breach this significant and durable resistance. What makes this breakout even more exciting is that the S&P500 is currently retesting the previous resistance level as a potential new support level. This retest is a critical step towards confirming the legitimacy of the breakout and signaling further upside for the index. Technical analysis plays a significant role in identifying the market trend and the right time to make investment decisions. A breakout, when an index or stock crosses a critical resistance level, is a major signal of a bullish trend. Additionally, the support and resistance levels play a crucial role in determining the entry and exit points of a trade. With the S&P500 breaking out of its long-term resistance, investors should use technical analysis to identify potential entry points and exit points. The bulls have been in control for the past few weeks, with the S&P500 trading strongly above its long-term support. Recent corrections have been shallow, indicating that the market is ready to make a big move. And with trading volume remaining above average, the breakout appears legitimate and not just a fakeout. The Relative Strength Index (RSI) is also giving us good news. Currently sitting in the bullish zone, the RSI shows an upward trend line that suggests the bullish trend is becoming even stronger. So what's the next target for the S&P500? It could be around the 4,800 level, but there may be some fluctuations and retesting before the market reaches this point. It's important to remember that technical indicators should be used in conjunction with other forms of analysis to make well-informed investment decisions. Get ready for exciting times ahead in the stock market as the S&P500 index breaks out of its long-term resistance and retests it as a new support level. Stay vigilant and use technical analysis to make well-informed investment decisions during this exciting period! Chachain KEYWORDS stock market, market analysis, market trend, index, technical analysis, breakout, support, resistance, trading strategy, bullish, bearish, trading indicators, RSI, trading volume, investment, investment strategy, investment decision, financial market, market performance, economic growth, market outlook, market forecast, market news, market update, market sentiment, market volatility, market movement, market prediction, market opportunity, market risk, market chart, market data, market insights, market commentary.
TVC:SPXLong
by Anoinvest
1
SasanSeifi 💁‍♂️🔵PYPL👉12H⏩ 72$ / 75$ Hey there, 🔱By examining the chart n the 12-hour timeframe, you can see that the price is currently following a downward channel trend. However, there has been a positive response as the price has managed to grow within the midline of the channel, reaching around the $69 price range. It's currently consolidating in that range.💹 ◼Looking ahead, in this 12-hour timeframe, one possible scenario to consider is if the support range around $66/$65 holds, we may see further price growth towards the important resistance level at $72, and even reach the supply zone around $75. To get a better understanding of the price trend continuation, it's important to observe how the price reacts to these resistance levels.💹 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌✨ ❎ (DYOR)...⚠️⚜️ 🔹Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! 🔹And if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you! 🙌
NASDAQ:PYPLLong
by SasanSeifi
2