Hang Seng Tech Current Trend The Hang Seng Tech Index is showing a sideways consolidation after a strong upward move in September-October. Resistance: The recent high near 4,800 (highlighted in orange) is acting as strong resistance. Support: Immediate support lies near the 4,434 zone (50% Fibonacci retracement). Next major support level is around 4,189 (62% Fibonacci retracement, green line). Key Observations After failing to break above 4,800, the index has corrected but is holding the Fibonacci 50% retracement level. If this level holds, the index could retest the 4,800 resistance zone. A break below 4,434 could open the door for further downside toward 4,189. Momentum Relative strength appears weak but stable, suggesting consolidation rather than a reversal. Instruments to Trade Hang

I like to trade on retracement - a concept of buying low but only when this dip is part of an uptrend. In this article, I wrote about key levels to note if $Amazon.com(AMZN)$ dipped after breaking to a new high. In this case, I have identified two potential support levels for a re-entry: $189, $201. If the price retraces to these levels and holds, it may offer a favorable re-entry opportunity for traders looking to capitalize on the continuation of the bullish move. Let’s review the results of this trade. AMZN retraced to $200 support Review of AMZN 3x Long DLC Performance If an investor had entered into the 3x Long AMZN DLC ( $AMZN

While other M7 stocks like $Tesla Motors(TSLA)$ and $Meta Platforms, Inc.(META)$ made new highs, $NVIDIA(NVDA)$ failed to trade higher. I’m going to do a technical piece on the stock and present it with key levels. NVDA Daily chart Technical Analysis of NVIDIA (Daily Chart): Head and Shoulders Pattern: A potential bearish head and shoulders pattern is forming, signaling a trend reversal if confirmed. Neckline Support at 131: The critical support lies at $131. A decisive breakdown below this level could trigger further downside. Projected Support at 120: The uptrend line aligns with a key support at $120. This area could act as the next target if the breakdown occ

In my previous article, I mentioned that if Apple’s $Apple(AAPL)$ stock price stayed supported above $218, we could expect the price to head higher. According to my analysis model, if the price does not hold at $218, there could be further correction, with stronger support at $195. Updated chart on AAPL Looking at the updated chart, that prediction played out exactly as anticipated. The $218 level held firmly as support, and shortly after, the price broke out of the classic cup-and-handle pattern, smashing through the $231 breakout level. Now, Apple is trading at $247.96, confirming the strength of the $218-220 support zone. This move highlights how powerful technical patte

$Tesla Motors(TSLA)$ broke all time high. In the previous article, I highlighted the historical resistance levels of Tesla and said: The price is nearing the $358 resistance, a level aligned with prior highs. A break above this could signal a continuation of the uptrend, but failure to breach may result in consolidation or reversal Tesla closed at $424 last night, surpassing its previous all-time high of $413 – marking a significant breakout! Notably, once Tesla breached the $358 resistance, momentum surged, propelling the price toward the $420 level. If one had traded a long DLC of Tesla, this 3x Long Tesla DLC ( $TESLA 3xLongSG261006(TSYW.SI)$ ) has more than tripled in value since its inception [M

Today a quick analysis on $.DJI(.DJI)$ as I’m on my year-end holiday in beautiful Laos. Laos, Lua Prabang Dow Jones Index (DJI) Technical Analysis: The Dow Jones Index is currently trading within a well-defined equidistant channel, characterized by higher highs and higher lows, confirming a strong uptrend over the observed period. Channel Boundaries: The top of the channel is estimated around 47,500 to 48,500, acting as potential resistance if the index continues its upward trajectory.The lower boundary serves as dynamic support, providing a guideline for possible pullbacks. Trend Strength: The consistent structure within the channel highlights sustained bullish momentum.Any significant deviation below the channel could indicate a shift in trend d

In this article, I’ll like to review $Tesla Motors(TSLA)$ (TSLA) Chart based on its historical Levels and Support/Resistance. Tesla daily chart Historical Levels: Previous Highs (2022): $413.29 $400.36 $384.29 $364.07 These represent significant levels where the price previously peaked, now acting as potential resistance zones. Recent Resistance: Near $357–358, the stock is approaching a critical zone, coinciding with earlier highs. Support Zone: Near-term support is marked at $313, providing a key level to monitor if the price retraces further. The price is nearing the $358 resistance, a level aligned with prior highs. A break above this could signal a continuation of the uptrend, but failure to breach may result in consolidation or reversal. Sup

Key updates on $NVIDIA Corp(NVDA)$ from the past two weeks: Q3 Earnings (Nov. 20): Revenue surged 82% YoY to $33.07 billion, driven by strong demand for AI chips​ markets Dow Jones Addition: NVIDIA joined the Dow Jones Industrial Average, cementing its blue-chip status​ Investopedia Product Update: Minor issues reported with next-gen Blackwell GPUs, but market impact is expected to be minimal​ NVIDIA experienced mixed developments recently. Initially, the stock reacted positively, trading above $140 (a new all-time high) after Q3 earnings. However, last night’s close fell below the low of the doji mentioned earlier, indicating weakening momentum at this point. As highlighted in the

As we approach the last week of November 2024, let’s take a look at the weekly closing price of the $.SPX(.SPX)$ and address this question: How high can the S&P 500 go this round? First, this projection is based on technical tools—it's not just a random guess pulled out of thin air. Here, I’m using the Equidistant Channel to predict a potential target for the S&P 500. What is an Equidistant Channel? An Equidistant Channel in technical analysis is a charting tool used to identify potential support and resistance levels. It consists of two parallel lines: Upper Line: represents resistance. Lower Line: represents support. The channel is drawn by connecting consecutive highs or lows and creating a parallel line on the opposite side. Traders us

$Alphabet(GOOGL)$ stock hit sharply following the DOJ's proposal to divest its Chrome browser, alleging anti-competitive practices. GOOGL Share Price Plunges 7%: Key Technical Insights In this article, I’ll revisit some key technical observations for GOOGL stock: Support at $150: The previous all-time high of $150, tested and rebounded in September 2024, remains a valid support level. Near-Term Support at $161: Between September and October 2024, the stock spent around 36 days trading near $161, establishing it as a significant near-term support level. Resistance at $190: The all-time high of $190 is a clear and visible resistance level. Volume Insights: Last night's drop, triggered by the DOJ news, saw sell volume more than double the previous d

Yesterday, I wrote in this article: Considering the current uptrend and the "path of least resistance" theory, I anticipate that NVDA might continue to climb on its upcoming earnings report. In the article, I mentioned that a doji candle has formed, which is an indicator of market indecision, however this also suggests that traders are closely watching the 135-140 level, which is a strong support zone. Trade the doji candle in $NVIDIA Corp(NVDA)$ on a lower timeframe (1 hour time frame). Steps for a 1-hour entry: Identify support (which is 140) Identify doji high (around 141.50) When a one-hour candle closes above doji high, this is the entry NVDA hourly chart Hit the follo

$NVIDIA Corp(NVDA)$ is scheduled to release its earnings report on November 20, 2024, after the market closes. This report will cover the fiscal quarter ending in October 2024. Based on forecasts from 14 analysts compiled by Zacks Investment Research, the consensus estimate for earnings per share (EPS) this quarter is $0.70. For comparison, the EPS reported for the same quarter last year was $0.38. In this article, I will be looking at semi-conductor ETF ( $iShares Semiconductor ETF(SOXX)$ ) on the general semiconductor stock movement. SOXX is forming a head and shoulders pattern, with the right shoulder creating a lower high compared to the head, which is a higher high. This lower high indicates weaker b

In my years of trading and investing, I’ve learned one hard rule: take profit when you can—then it’s your money. Let’s discuss the Nasdaq (NASDAQ 100). Has it broken to new highs? Yes, the price is indeed bullish. However, technically, the price is nearing the top of an equidistant channel, which often represents a supply or resistance area. While the overall trend remains up, the first critical “danger point” to watch is 20,650. This was the previous all-time high, and price must stay above this level; otherwise, it could be deemed a “wash and rinse” (also known as a fake move). A break below 20,650 would close the first gap (shown in green). There are two gaps in the Nasdaq—green and orange—created when Trump won the presidential election, causing the market to enter a state of euphoria.

Earlier in my article, I mentioned my bullish outlook on $Amazon.com(AMZN)$ due to a suspected cup and handle pattern. Now, with the price breaking out, the cup and handle pattern has officially been completed. Based on the current chart pattern—a cup and handle, which is a bullish continuation pattern—I believe the price is likely to rise. How high can the stock price go with the cup and handle pattern? First, let’s talk about how to calculate the profit target of a cup and handle pattern: Measure the Depth of the Cup: Find the distance (price difference) between the highest point (the "rim") and the lowest point (the "bottom") of the cup. Add the Depth to the Breakout Poi

I was bullish on $Tesla Motors(TSLA)$ in my earlier article. Mentioned that: Price should close firmly above $280 Predicted resistance levels are $314 and $336 After a firm close above 280, Tesla surged 30% to my predicted resistance level of $336, before closing at 328. I believe the stock price is nearing a resistance level based on two technical indicators: It is at the top of an equidistant channel. It is close to the 76.4% Fibonacci retracement. Resistance levels are supply zones and are likely to show signs of price weakness. If you would like to trade Tesla during Asia hours (before the U.S. market opens in case of a gap), Soc Gen offers US stock DLCs.

With Trump leading at the time of posting, $Tesla Motors(TSLA)$ is also climbing during Asian trading hours. In my previous article on Tesla, I noted: – Even if the price doesn’t break through initially, consolidation near the upper zone (around $265-$276) would indicate strong underlying momentum.– Another potential resistance exists near $278, a recent high. Here’s an update: 1. As predicted, the price did consolidate, though in a lower range, with a low around $240. 2. At the time of posting, pre-market trading is around $283, meaning the price has broken above the resistance level at $278, signaling strength. Looking ahead, keep an eye on Tesla for a potential cup-and-h

Last Friday, the S&P 500 Index ( $.SPX(.SPX)$ ) didn’t close the week on a strong note. Thursday saw a solid bearish candle, while on Friday, the price initially opened higher but ultimately ended the day lower. This price action could indicate profit-taking or position trimming ahead of expected market volatility due to upcoming political events. The uptrend remains intact, and minor price corrections can be healthy for the continuation of the current trend. However, last week’s close fell below a key support level of 5765, which could signal some caution. From my analysis, a much stronger support zone lies between 5597 to 5629. If the price breaks below 5597, it may signal the end of the current uptrend, potentially leading to a deeper corre