Follow up from my post 1 week ago Turning out to be a good liquidation of my TSLA shares some days back. Post earnings, will see. Will my puts get assigned? Will know on 26 July! Double top playing out goes to 200. TSLA Daily - 21 July 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit $Tesla Motors(TSLA)$
- Recent pullback to Fib 61.8 (275) - Ans has since broken a key level (329) which was also the many support and resistance of the past - That bounce had gone up strongly - A bull flag is now formed with a breakout possibly to 492 - Longer term fib extension also points to 492 - Friday also had a strong breakout candle out of the current flag range Looking to accumulate if there is a backtest of 392 Tencent Daily 14 July 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit
- A double top is not a double top until neckline gets broken - A lower high formed on 11 July does bring that potential into play - It is all about 118 upcoming - With earnings way out to 15 Aug, that 118 play might not happen yet - A double top playing out is to 100/102 My plays - Have multiple puts strike 85, 95, 100 - Will look to add when 118 plays out NVDA Daily 14 July 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit $NVIDIA Corp(NVDA)$
- Got rejected by 200 and will do well to attempt again next days/weeks/months - Very interested in the price action as long as stay above 188 - Can even get down to 182 and still be quite good - Would love to get at 165 (where my put strikes are) but for AMZN - My fav counter as my targets for AMZN are 211, 225 and 240 AMZN Daily Chart - 13 July 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit $Amazon.com(AMZN)$
- Since the break of 172, had reached the first fib target of 188 - Next target is 208 and the longer term target is 249 - Earnings coming up (estimated 27 July) - Need a good catalyst to push above 188 - Any good sideways movement between 172 and 188 is good building of liquidity - Break of 188 would be significant My plays - Holding shares from 140 - Puts at strikes 145 and 155 and 165 etc - Will continue to accumulate prior to earnings as long as stay above 172 (key level) AMD Daily Chart - 13 July 2024 @melson @TigerStars @macroB @CaptainTiger <
TSLA - Lower high or continued bounce off Fib 38.2?
Daily Chart - Pullback exactly to Fib 38.2 on Friday (232) - Will it go down to fill gap at Fib 61.8? (209) Hourly Chart - Awaiting a lower high 250 towards a lower low around 210 (also VWAP level) - Break of 255 does signify a return to the bullish trend that had been happening past days Earnings Watch - Earnings upcoming on 23rd July afterhours My plays - Liquidated my shares at the recent near high - Held puts - Will build more puts towards earnings on 23rd July TSLA - Daily and Hourly Charts - 13 July 2024 @melson @TigerStars @macroB @CaptainTiger
Good lesson to learn from - It is not double top until it is.
After the prior 2 weeks of inverse hammer candle, many were calling a double top and calling crash crash crash. But market likes to do what it likes to do. Never assume. Best to Observe, React, Don't Predict. Market closed last week with a big breakout candle. S&P500 Weekly Chart @melson @TigerStars @macroB @CaptainTiger @Deposit $SPDR S&P 500 ETF Trust(SPY)$
WMT has been a good performer in my portfolio. Up 35% since 2023 and up 18% since the stock split. Consistent selling of long range puts (3 to 6months out) to add to the income. Looking towards Fib extension target of 70 with very interested buys if it pulls back to 65/66 and 62. WMT - 29 June 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit $Wal-Mart(WMT)$
1H is done. How has market makers setup for 2H 2024?
Most talked about now would be the topping candles seen on the weekly charts of S&P500 and NASDAQ. Indeed they usually signify an imminent pullback. The question is to where? Does not look like a super crash at this point in time. Overall charts still quite bullish. But be prepared for pullbacks akan datang. S&P500/NASDAQ Weekly - 29 June 2024 Cup and Handle has fully played out on NASDAQ. It all matters now what's next and like mentioned previously, it all depends on how market makers have been setup for 2H 2024. Stay observant. NASDAQ Cup and Handle - 29 June 2024 @melson @TigerStars @macroB
Price Action (Update 25 May 2024) - Still on target for fib extension 185! - 2 support levels that are interesting 155 - Previous earnings breakout level on 25 Apr - Was also the previous key resistance back in 29 Jan 2024 - Post earnings gap up created - Also my nibble level if it comes down to this 165 - Last pull back support before breakout again - Also the 50% gap fill of post earnings gap up My plays - Have been in accumulation to some share holdings since 137, averaging at 140 Good luck, all! GOOG Daily Chart - 25 May 2024 @melson @TigerStars @macroB