Ping An - My fav counter on China Market is moving
PA is coming up to strong resistance range from 47 to 60. So would be interesting to see how it navigates it. If can get over 60...another easy path up to 75. Looks good. Ping An - resistance range Fib retracement 61.8 is exactly 46.70... alas...that's where it stops on Friday... It will likely reject off 46.70 or take awhile between 46.70 and 51.35. The longer it stays above 46.70, the more likely it will full retrace to 57.25. Ping An - Fib retracement @melson @TigerStars @macroB @CaptainTiger
Price action (Update 18 May 2024) - Price action has firmed up as analyzed (white arrow drawn previously) - Coming up to some "traffic resistance" between 528 and 540 - Again, if it can stay above 513 next few weeks, there is a good chance it can break through the resistance - Previous all time high stands at 558; Breaking 540 would set it up for that target to be easily reached - The breakout on 18 Apr out of the downtrend is a good note - Failure to hold 513 would mean 489 is back in play - For now, leaning bullish rather than bearish My plays - Have been nibbling in between 450 and 470 - Will continue to do so if 513 holds and will nibble in towards new all time high of >558 Good luck, all! UNH Daily - 18 May 2024 @melson
VEEV - Much to be bullish about. Will earnings change it?
Price Action (Update 17 May 2024) - Charts of this counter had been quite technical - Pullback has been tactically to find support around the golden pocket (fib 61.8 and 78.6) - And price action balance had been found exactly at the Fib 61.8 (203) before recently breaking upwards - It has since went above 209 and on 16 May, exactly back tested the 209 level - Staying above 209 could well mean a path back to the all time high of 230+ - Note the gap above at 230 and 50% gap fill at 223 (all possible targets) My plays - With obvious targets above, am more bullish than bearish - Holding to shares nibbled since the 180s - Sold puts strikes 185 and 195 too - Holding above 209, will sell more puts for earnings play at 195 - This is one of my portfolio play, so am long term on this counter Good
Price action (Update 17 May 2024) - A counter been tracking since early 2023 but only went in Nov 2023 with the big gap down from earnings - Rode the gap down on 16 Nov 2023 and had been accumulating since en route to the latest earnings - Analysis shows WMT tends to react positively after a big gap down (previous one back in 18 May 2022) - Nov 2023 pullback was to the good support level (white box) - Been selling puts and accumulating shares since - Earnings gapped up to first fib resistance 64 (price action on 16 May 2024) - Target remains 67.82 and 70.25 and then 71.46 My plays - Will close multiple sold puts today - Had also set a sold call which will call away some shares on 17 May 2024 at good premium + cap gain - Will hold on remaining till the target of 70/71, accumulating further
Intel has pulled back to Fib 78.6 extreme and trying to find support. High volume bar too. Worth a hedge. 31+ is also a good support of many confluences. Will be forming my average down position abit here. Intel Daily - 16 May 2024 Slightly impatient and sold put early....again, lesson learnt to follow technicals! Pullback to Fib 61.8 was sound! Good bounce! So turns out not bad... OXY Daily - 16 May 2024 UNH continues to show it will stay between the range of 460 and 560, a pattern since 2022. 503-513 is that middle of range and it has since broken above. Continued staying above 513 points it positively to go for 560 again. Inverse head and shoulder (double pattern) also bodes well. Watch 513 holds. UNH Daily - 16 May 2024
FTNT - Confluence of 2 indicators for a key level - 55
Price action Update (11 May 2024) - Bear flag FIb extension points to 55 - Bull flag Fib 61.8 pullback also points to 55 - 55 is also a key level of support and resistance past months/years Look to find some support at 55 Sold puts strike 55 and will further nibble too Interesting levels coming up. Good luck, all! FTNT Daily - 11 May 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit $Fortinet(FTNT)$
SHOP has become interesting after earnings; Consumer Sentiments however is worrying.
Price Action Update (11 May 2024) - Post earnings reaction high was 79 and low was 62 - Coincidentally, 62 was also near the Fib 61.8 level of 63 in pullback - It has since broken down below the earnings low and also into the golden pocket (between 61.8 and 78.6) - Good time to look for reversals Support Levels - 55 (Fib 78.6) - 46 (Full retrace) IV Crush - Means selling puts will not yield good premium due to post earnings IV crush Will be patient and nibble from 55 down to 46. Good luck, all! SHOP Daily - 11 May 2024 @melson @TigerStars @macroB @Ca
KO responds well with a good earnings; Target all Time High 67?
Price Update (11 May 2024) - Has been in a 58 to 65 range for a few years until the weight loss drug impact in 2023 brought it down to 52 - Has since rebounded well with a slow and steady climb back to the supporting range level of 58 - Building upon, it has gained good liquidity and with the recent earnings, now moving up - Has since broken the mid range of 62 and supported above ==> Good sign - A break of 65 again will certainly mean the previous all time high of 67 is vulnerable to be beaten! - Trend channel limit is currently at around 70 Accumulation drive - Been accumulating since 55 up to 60 - Puts strike 57.5 and 60 sold with good movement Diversification KO has been a good, slow and steady counter in my portfolio. Helps me in diversifying from a heavy tech focus.
Price action update (11 May 2024) - After accumulating from 267 and letting go at 290, was anticipating MCD to pull back to Fib 61.8 - And so it did, with a double bottom formed in Apr and May 2024 - After it broke 267, was looking to wait till 260 (near Fib 78.6); guess was too greedy! - Breakout last week from 267 to 275 A double bottom is not a double bottom until neckline is broken! So be patient. See if 277 get broken and stay above. It might not be too late! Will consider selling put strike 260 if any pullbacks. Good luck, all! MCD Daily - 11 May 2024 @melson @TigerStars @macroB
GOOG on 30mins charts looks to have a possible cup and handle playout to 176 Which basically brings it back to the previous All Time High. Larger Fib extension points to 184 and a break of 176 would mean 184 is still on target. Nice nibbles on GOOG still the 130s. Good luck, all GOOG Daily - 11 May 2024 GOOG 30mins - 11 May 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit $Alphabet(GOOG)$