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Make or Break Time for Apple?This week has been all about Apple. It jumped on Monday amid iPhone 12 optimism, hit a wall and has been consolidating since. This brings up an important level on multiple time frames. First, on the weekly chart, AAPL’s high the week ended September 11 was $120.50. Monday’s rally broke above it and today’s pullback revisited it. This level could be very important. Will old resistance become new support? Second, on the daily chart, AAPL is holding above moving averages like the 21-day exponential (EMA) and 50-day simple (SMA). These lines are unusually close to each other, which creates the potential for a bullish expansion. Look back to August-September 2019 for a similar pattern: Third, the hourly chart shows AAPL opening below $119 but quickly rebounding. If it manages to claw back above the $120.50 weekly line, it could be a false breakdown. (Also potentially bullish.) Earnings are due in exactly two weeks. Coming sessions will likely bring increased chatter and potential early readings of interest in the new iPhone. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AAPLLong
by TradeStation
1
PayPal Attempts a Bull Flag BreakoutPayPal has been a major beneficiary of coronavirus and the boom in e-commerce. It’s moved sideways since the end of July but now the chart may be attempting a breakout. PYPL formed a bullish flag since the start of September, with the trendline running down through the early October levels. Yesterday it closed above that trendline. Prices also consolidated at the 50-say simple moving average (SMA) and 21-day exponential moving average (EMA) for more than two weeks before getting decisively above both. The weekly chart has some interesting patterns: A bullish inside candle the week ended September 25 followed by a rip higher. Then another bullish inside candle last week, which it’s now escaping. PYPL’s last earnings report beat estimates. Its next report is scheduled for November 2. Now that the stock has moved above its falling trendline, it may have the potential for a meltup into the quarterly numbers. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:PYPLLong
by TradeStation
2
Nasdaq Reasserts Itself vs. the Russell 2000One common pattern this year has been sporadic rallies in the Russell 2000 , followed by longer periods of malaise. We saw it in June, early August and again in the last 1-2 weeks. Each time, it’s been followed by a shift back to Big Tech, Growth and the Nasdaq-100. The same process seems to be happening right now. This chart shows our Smart Relative Strength indicator, comparing the Nasdaq-100 to the S&P 500 with a 21-day interval. Notice how it started turning positive last week and has continued since. There are some other bullish signs for the Nasdaq. One is the bounce around 10,800. This was an important consolidation zone in July following a large engulfing candle. Another potentially bullish sign is the way prices snapped back above the 50-day simple moving average (SMA) on September 28. It’s held that line since amid some retests below. NDX also held the 21-day exponential moving average (EMA). Finally, MACD is now rising. The Nasdaq didn’t have a lot of catalysts in September, and its heavy price action reflected that. Now with Apple ’s product launch and Amazon Prime Day tomorrow, price action is starting to perk up. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
TVC:NDQ
by TradeStation
2
Alibaba Hits New High as Ant IPO ApproachesOne of the more interesting dynamics since the Nasdaq-100 swooned last month has been the relative strength of Chinese technology stocks like Alibaba. This hourly chart compares the Golden Dragon China Index with the Nasdaq-100 . First you have the simple outperformance since the low. Second, notice that HXC made a higher low in late September, while NDX made a lower low . That can indicate Chinese names faced less selling pressure than U.S. megacaps. Alibaba is an important Chinese company. As expected , it probed key support in late September before bouncing. Today it inched to a new all-time high. In contrast, none of the big domestic stocks have returned to old highs since last month’s pullback. For example, TradeStation’s analytics show that the only NDX members to hit new highs in the last week are less prominent firms like Copart , Seattle Genetics and Charter Communications . There are a couple of reasons. One is Ant Group’s initial public offering later this month: The world’s biggest fintech, doing the largest IPO ever – but outside the U.S.! BABA owns one-third of Ant, so could be the main way for Americans to play it. Another reason is China versus the U.S. The Asian country has not only recovered from coronavirus more quickly. It may have less political risk (at least in the near term) than the U.S. Just yesterday, the House of Representatives recommended significant antitrust measures against Apple, Amazon.com , Alphabet and Facebook. While these could prove “more bark than bite” in the long-term, they create uncertainty in the near-term. Maybe that’s why all four of those stocks remain below their 50-day simple moving averages (SMAs) today. Meanwhile, China’s settling into a post-pandemic recovery and seems determined to support its financial markets. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:BABA
by TradeStation
1
Channel Breakout in the Chips?The Philadelphia Semiconductor Index formed an interesting pattern this month as the market pulled back. It initially dove toward 2100, and then managed to hold that level even as the Nasdaq-100 and S&P 500 proceeded to make lower lows. Not surprisingly, that relative strength led to more bullishness this week as SOX jumped above its 50-day simple moving average (SMA) on Monday. It’s also fought its way into the large bearish candle from September 3, while NDX is only back to its September 10 range and SPX remains around its September 16 close. The key pattern we want to highlight today is the sideways channel in SOX between September 4-25 because we’re now seeing a breakout above that consolidation range. This may create the potential for chips to lead other tech stocks. We could even see an accelerated move if SOX retraces the fast price action from September 3. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
TVC:SOXLong
by TradeStation
1
Chip Stocks and Industrials Are Moving TogetherMarket correlations are always interesting because they can reveal how investors are thinking. One correlation recently been similar movement between semiconductors and industrials. (This chart shows the 10-day correlation between the Philadelphia Semiconductor Index and the SPDR Industrial ETF .) This isn’t a huge surprise because both are relatively cyclical. Stronger GDP growth tends to favor industrial equipment. It also boosts demand for chips. On the other hand, software companies have benefited from the coronavirus lockdown for two reasons. First, more social distancing means more demand for cloud computing and videoconferencing. Second, weaker economic growth keeps interest rates low, which makes it easier to own high-multiple software names like Zoom Video Communications or Salesforce.com . Industrial stocks outperformed in mid-September before crashing along with the S&P 500 last week. They’re trying to lead again today and chip stocks have pushed to their highs in sympathy. Meanwhile ETFs tracking software like IGV and CLOU have bled lower since the open. Traders may want to keep an eye on this pattern given the potential catalysts this week. Congress may pass a coronavirus-stimulus bill. We also have ADP’s private-sector payrolls report on Wednesday, ISM’s manufacturing report on Thursday and non-farm payrolls on Friday. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
TVC:SOX
by TradeStation
Cup and Handle Breakout in Roku?Roku was one of the market’s most explosive growth stocks in 2018 and 2019. It’s chopped around with the rest of the Nasdaq during the time of the pandemic, however recent price action shows some interesting relative strength. First, ROKU made a new 52-week high on Monday, even as the Nasdaq-100 hit a two-month low. Next, ROKU bounced at its 50-day simple moving average (SMA) several times this month. Third, the stock has two near-term support zones in play: The early-September high around $180 and the and the recent area between $170-175. Depending on the state of the market, a deeper test shouldn’t be ruled out. Finally, the longer-term chart shows a cup-and-handle on ROKU. March’s low is the “cup,” followed by the “handle” in June. Fundamentally, ROKU has some catalysts. Monday’s rally came after the company reached an agreement with Comcast over NBC Universal’s Peacock App. Even before that announcement, ROKU announced strong results on August 5, with earnings, revenue and subscribers all beating estimates. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:ROKULong
by TradeStation
1
Alibaba May Be Turning Resistance into SupportChinese technology stocks have held their ground better than their U.S. counterparts. The Nasdaq Golden Dragon China Index is 8.5 percent below its 52-week high, while the SPDR Technology Fund is down 12 percent. Alibaba, a key name in the group, has some interesting patterns on its chart. First is the bullish-triangle breakout in August, which it’s now retraced. The previous high around $267 has become the bottom of its range this month. Is old resistance becoming new support? Next, BABA made a slightly lower low on Monday than earlier in September. But it quickly rebounded. That’s a false breakdown and shows that buyers may be willing to defend the support zone. Third is the descending triangle. This may create the potential for a breakout as the downward line converges with the support zone around $267. Still, there could be some near-term chopping and retesting of support. Finally, there may be a catalyst relatively soon. Bloomberg reports that Ant Group wants to raise at least $35 billion in an initial public offering in Hong Kong and Shanghai. (Up from the $30 billion total discussed in August.) BABA owns about one-third of the company. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:BABA
by TradeStation
$VNET can rise in the next daysContextual immersion trading strategy idea. 21Vianet Group, Inc. provides carrier and cloud-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. The demand for shares of the company still looks higher than the supply. This and other conditions can cause a rise in the share price in the next days. So I opened a long position from $24,14; stop-loss — $23,24. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NASDAQ:VNETLong
by KozakHlib
Wayfair at the 50-day SMA After Big RallyAmazon.com might be the poster child of e-commerce taking over the U.S. economy. But it’s by no means the only beneficiary of online shopping in the last six months. Wayfair has rallied even more, surging over 1,300 percent from its March low to August high. Now it’s pulled back, with some interesting signals. First, we have the deeply oversold condition on stochastics. Second, we have a pullback to the 50-day simple moving average (SMA). It’s the first test of this line since the rally began. Third, W tested and held the $235 price range that was resistance in late July before breaking out toward $300. Finally, the 8-day exponential moving average (EMA) has stabilized and price is pushing back against it. This could be a useful indicator of short-term momentum. If W breaks back above the 8-day EMA, the longer-term uptrend may resume. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:WLong
by TradeStation
Chinese Yuan Chart Could Be More Important than the NasdaqThe monster rally in Nasdaq stocks has obviously grabbed most people’s attention recently. However there’s also been a major shift in currency markets as the U.S. dollar slides. That trend has paused for more than a month. Looking simply at the dollar index , it’s not clear whether the decline is ready to continue. But DXY is two-thirds European (euro and sterling). Today we want to look at another currency that’s not even a member of the dollar index: The Chinese Yuan . USDCNY consolidated under roughly 6.85 in the first half of September before breaking lower this week. That was a low in January, so it appears that old support has become resistance. The news flow is also noteworthy because China just reported better-than-expected industrial production. Interestingly, the South China Morning Post ran an editorial yesterday titled “China should seize the moment to free up controls on the yuan to expand its international use.” Coming from an officially sanctioned publication, that seems to indicate Beijing is going to let the yuan appreciate. (Which means USDCNY goes down.) Earlier in the month, Morgan Stanley predicted USDCNY will keep moving toward 6.6 by the end of 2021. Meanwhile, headlines for the U.S. dollar are just the opposite. Our economic data has rebounded somewhat, but more than half the jobs lost to coronavirus remain lost. Meanwhile, Jerome Powell and the Federal Reserve will probably keep the dovishness coming at their meeting tomorrow. Most people probably cannot trade USDCNY. However, gains in the currency have previously lifted Chinese Internet stocks like Alibaba and other members of the Nasdaq Golden Dragon China Index . We entered 2020 expecting money to flow to China after global indexes were changed. Despite the pandemic, that process has been playing out as expected. Could it even accelerate into year end? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
by TradeStation
Dotcom 2.0? Nasdaq Is Getting Back to Late-1990s GiddinessMost people know that the Nasdaq-100 had a monster run in August. But just how extended was it? By one measure, it reached levels of giddiness last seen in the dotcom bubble. Our custom script “ Distance from MA ” (published on March 18) shows how far price has moved away from a given moving average. It supports simple, exponential , hull, weighted and volume-weighed MAs. We changed its default setting from the 50-day simple to the 200-day simple. The verdict? NDX was 32.8 percent above its 200-day SMA on September 2. You have to scroll all the way back to April 7, 2000, to find a higher reading. Children born on that date are in college now! NDX pushed that far above its 200-day SMA several times starting in 1999. This is symptomatic of a strong bull market. The fact it’s only just appearing now may suggest there’s still a lot of potential for the index to keep running. Interestingly, the pullback from the September 2 high pushed stochastics to the most oversold levels since March. Given the strong upward momentum and the apparent support at the 50-day SMA, this oversold condition may look like a buying opportunity to some. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
TVC:NDQLong
by TradeStation
4
Apple May Be Oversold Before Tomorrow’s Event Apple has had a sharp pullback after splitting its stock. Now some new catalysts are in focus with the product event tomorrow and potentially new iPhones later in 2020. Let’s study the chart before Tim Cook takes the stage at 1pm ET on Tuesday. First, stochastics show AAPL is the most oversold since late March. That alone might grab some attention. Next, AAPL has been holding around $110. This is near the (split-adjusted) low from the week of August 10-14. It’s also near the low after the big selloff week of August 31-September 4. Interestingly, last week’s low of exactly $110 was $0.89 under the previous week’s low. However, it quickly bounced and closed above it: a false breakdown. The weekly chart also highlights the large spinning-top/doji candle. That halted the advance of both AAPL and the Nasdaq at the time, but they’ve been holding the bottom of that candle since. These patterns potentially suggest AAPL has found a bottom for now, with the possibility of upward momentum continuing as new products and services roll out. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AAPLLong
by TradeStation
8
AMD short-term correction setup, long-term BULL caseAMD (Advanced Microdevices) has been on a tear, and for many good reasons. Still, note the short-term correction and whether all its current growth potential has already been priced in. AMD gained strong profitability in 2016 and beyond posting strong and accelerating results with the success of its Ryzen processors. AMD's ability to both produce and deliver more quickly than the industry Goliath Intel has had many rushing into this stock. Most interesting was the recent rotation of traders from Intel into AMD (though one would think not to bet against Intel, based on all history). In this chart, we started with the Weekly pulling back the curtain on historical support and resistance trends. We then analyzed the impulse started end of 2015 / beginning of 2016 which coincides with the company's strong product releases and profitability. In recent times, the company has been accelerating its success, now proving a strong contender against the traditional leader Intel, and further the acceleration of digital transformation due to the 2020 pandemic. Note the end of this major first wave of the impulse. The stock may retest its high around $93, but we'd expect that it's more likely to see a correction towards $60 in the short term, though given the strength of this asset it would be unlikely to get all the way there. Still, one could set some buy ladders and try and get lucky with buy orders just above $60 and $50. In the mid- to longer-term we expect this stock to break it's ATH and search for what could be a larger 3rd wave to the upside as tech innovation further accelerates worldwide. Disclaimer: I am not a professional. Analysis is my thoughts and for my own education and revelations on trade setups. I am more than open to feedback or being pointed to resources that can improve my analysis. Thank you!
NASDAQ:AMD
by Shadowfigure
1
Downside Bias on the Nasdaq too!The downside bias on the Nasdaq is greater and clearer a shown in the other indexes. Remember, that tech stocks led the markets up in a record run. Now, it appears that the reverse is also true, leading the downward pressure with commitment. Technically , the weekly candlestick pattern show a bearish engulfing, followed by a rather filled down candle, forming the three outside down pattern, and suggests more downside to follow. The MACD had crossed down supporting this view. Target of 9600 by end October with a check at about 10400.
CME_MINI:NQ1!Short
by Auguraltrader
Amazon.com Bounces at the 50-day SMAThe Nasdaq-100’s sharp pullback last week brought all kinds of solid names back to earth. And one of the most prominent is Amazon.com. Jeff Bezos’ e-commerce giant triggered some alerts on TradeStation yesterday and Friday after dipping down to test its 50-day simple moving average (SMA). This provides a fairly straightforward momentum setup. AMZN is also holding the top of a bullish triangle around $3,250, which it broke three weeks ago. Next, stochastics show an oversold condition. Finally there are some potentially bullish fundamental considerations. One is limited exposure to China – unlike chipmakers or Apple . That may reduce its risk given the political backdrop into November. Second, AMZN has the highest share price in the Nasdaq-100 and the second highest in the S&P 500 (after homebuilder NVR). Tesla and AAPL just delivered stock splits. Will AMZN follow? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AMZNLong
by TradeStation
Potentially an Ascending Triangle forming for OSTK?It appears as though a Head and Shoulders on the RSI & KST has already played out to the downside, notice the blue Descending Triangle with the red colored lines representing the H&S on the RSI. Investors should acknowledge that the previous CEO of Overstock was great friends with Warren Buffett and spoke with him privately before departing the company. I find no coincidence that Bank of America is now involved with book running a financing regarding OSTK, interesting. Buffett recently ventured into Gold by buying shares in Barrick Gold, "if" Buffett was going to buy anything crypto related I would imagine Overstock is of interest. Buffett sold basically all his bank stocks except Bank of America, interestingly Buffett bought more Bank of America. tZERO said Hong Kong-based private equity firm GoldenSand Capital (formerly known as GSR Capital) has bought a 5 Million stake in the company earlier in the year, I mentioned before I wouldn't be surprised If Chinese investors are supporting this stock heavily now, especially since China is rolling out their new digital currency. It would make sense given the parabolic rise in the OSTK since the announcement and chart I've linked to this chart. Nothing wrong with a little speculation. Back to the chart, if we get a bounce off the green upward sloping support and the price gets rejected at the horizontal green line of the potential Ascending Triangle, the RSI is likely get back into what was a descending triangle and could potentially top out at the downward sloping resistance of the blue pattern in the RSI. Or, It's possible OSTK could get back into the blue pattern on the RSI and create a support at the base of the pattern to then look for some higher high creation. We've possibly seen a blow off top that will end in a bearish H&S pattern that has already played out on multiple indicators. Interestingly, the price has not formed the right shoulder yet, I have placed three coinciding red lines to represent the potential H&S. Or, OSTK simply has seen a healthy correction back to the public offering price of $84.50 per share, and now we're going to continue the parabolic uptrend? It's possible we see a Golden Cross on the KST this week, I've placed a question mark icon to represent where a potential golden cross may occur, if the green line crosses the red to upside similar to previous examples on the chart where I have placed blue fingers pointing upward OSTK would start looking very bullish.
OLong
by ScotianBot
Ascending Triangle & Triple Bottom for CRSP?Notice the dark blue pattern on the chart, there's noticeably a Ascending Triangle and coincidentally a bullish inverted H&S where I have placed the green lines. Above each green line is appears to be a bottom, and there's three very noticeable on the line chart as opposed to the hollow candle chart. I have placed three blue finger icons so there is no confusion, each finger represents a bottom of the Triple Bottom. On the RSI there's was clearly a modest divergence, if the Ascending Triangle breakout to the upside the RSI is going to need to create a higher high and break out of the pattern to the upside negating the possibility of this ending in a bearish divergence & descending triangle.
NASDAQ:CRSPLong
by ScotianBot
OSTK is trading in an Ascending Triangle.Keep an eye on the KST, if the price continues rising but there is no higher high on the KST or the RSI there will be a double bearish divergence formation. KEY TAKEAWAYS of Ascending Triangles. The trendlines of a triangle need to run along at least two swing highs and two swing lows. Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy. A long trade is taken if the price breaks above the top of the pattern. A short trade is taken if the price breaks below the lower trendline. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
OLong
by ScotianBot
Tesla Has an Outside DayTesla has obviously had an amazing run. This morning it spiked as high as $2,129, more than 900 percent above its 52-week low one year ago. But TSLA hasn’t held that level. Its high occurred in the first minute of trading, and prices quickly knifed under $1,940. That’s resulting in a large outside candle on the daily chart. This is a potential reversal pattern – especially when it occurs at a big round number like $2,000. Happening early on a Monday is also a potential sign of capitulation buying from retail investors submitting market buy orders over the weekend. TSLA’s stock split, which takes effect next Monday, August 31, is the big catalyst. While this can definitely be a positive for a high-flying technology name, the euphoria may be priced in after TSLA rose more than 50 percent on the news. (It was announced after the close on August 11.) Today’s candle is similar to the July 13 failed breakout (also on a Monday). TSLA and several other big Nasdaq stocks drifted for a month after that session. Traders may want to start looking for a deeper pullback in TSLA, and not buy the dip too quickly if sellers take charge.
NASDAQ:TSLA
by TradeStation
3