To The Moon

Hi everyone! Charting a new stock today: Oracle Corporation (NYSE: ORCL) ORCL’s weekly chart shows it in a traditional uptrend pattern with a series of higher highs and higher lows. It made a new ATH in the week of 18th March on lower volume than the bullish engulfing candle the week before, suggesting profit-taking was taking place rather than a significant topping cycle. The daily chart better reflects how ORCL is trading in a short-term ascending channel with higher highs and higher lows. We are likely going to see a retest of prior resistance at 120.09 before a move higher, in what should be an S/R flip there before a move higher. Taking a swing low of 39.71 (COVID-19) and a swing high of 104.36 (prior ATHs before bear market), I note that we have the 1.618 Fib extension situated at

Hi everyone! Today let’s look at a cryptocurrency miner: Marathon Digital Holdings, Inc. (NASDAQ: MARA) The stock broke below its ascending channel (which I was tracking previously). This means that a retest of the 13.70-14.07 area is likely in the coming days. I have drawn a green ascending trendline, based on the higher lows that we made last year from October onwards. A break below this green TL is suggestive of a move down to the next supports at 12.28 and 10.48. If we break below all 3 areas, then it is very likely that we have seen a notable shift in structure in MARA to the bearish side. It is only fair for miners to be discounted relative to underlying BTC. As I mentioned in my previous article on MARA, the halving event is a short-term headwind and a long-term tailwind. Investor

Hi everyone. I am going to start a series on swing trading, exclusively on this platform. I think this caters more to traders over investors. We’ll be looking at a trade setup on Ford (NYSE: F) today: It is currently trading in a multi-day falling wedge pattern on the daily. Let’s zoom in and see the trend on the lower timeframes, since the big picture tells me that F is consolidating over 13.03 support. On the 2h timeframe, notice divergences forming on F. There’s a hidden bullish divergence, that is swiftly followed by a regular bullish divergence. This validates the falling wedge lower trendline - it is now likely we will see a push back up towards 13.60s over the next few sessions. Whether we break out or not in the same session is up for debate. But given that the range is fast tig

*TA as of 3/4/24 Hi everyone! Today I’ll be covering a stock close to home: Sea Limited (NYSE: SE) SE was a pandemic darling with bags of promise as the stock received upgrade after upgrade. However, as the world returned to normalcy, it fell out of favour with investors. The breaking point was the time it broke its long-term trendline in May’22, as it continued to trend lower, to as low as 35 a share. From the weekly chart, it is apparent that it was trading in a falling wedge reversal pattern with lower highs and lower lows, albeit with a tightening range. It hit an inflexion point when it formed a bullish divergence pattern on the weekly, which has cumulated in a breakout from the rising wedge. On the daily chart, we can see that bearish divergence marked a short-term top, as the stoc

Hi everyone! I’ll be updating my TA on one of my ideas. Lyft, Inc. (NASDAQ: LYFT) In my previous newsletter, I talked about how LYFT was likely to make a pullback to 13.76, which would prove to be a significant buying opportunity. Evidently, we did not get the pullback. Therefore, the next order of business was to look for an overhead resistance and go long on a retest of support. I note that the 18.36 level checks these boxes. This level has been sticky for the past 3 years, and we duly retested it early in the session before closing above this level. I also note that there has been a trend markup, with steeper higher lows being made (green ascending trendline). The stock is now trading in a smaller ascending channel pattern. Interestingly enough, LYFT is in the midst of forming another

Hi everyone! Today I’ll be updating my TA for another retail darling: Palantir Technologies Inc. (NYSE: PLTR) I nailed the end target for this move, as PLTR strongly rejected the 27.11 level (refer to Watchlist [36]). The stock is now in danger of forming a larger weekly bearish divergence pattern that could see a deeper pullback. I have marked out 3 major levels that were prior resistances, namely 21.85, 20.24 and 18.22. All 3 levels were strong support levels in 2021, but soon turned into overhead resistances between 2022-2023. Interestingly enough, all 3 levels also happen to rest near the 50%, 61.8% and 78.6% Fib retracements respectively, given a swing high of 27.50 and a swing low of 15.66. The potential saving grace for PLTR? The possibility of a third leg of hidden bullish diverge

Hi everyone! Today I’ll be updating my TA on an ETF known to all: SPDR S&P 500 ETF Trust (ARCA: SPY) SPY has continued to form a bearish divergence, which has since extended from 3 to… 6 legs! This is unlike anything that has ever formed on SPY before. However, in most cases, bearish divergences on ETFs tracking the market indices play out. This suggests that we might be looking at a multi-month pullback instead of a shallow correction. The latest development on SPY is that it has since broken out of its rising wedge, while testing the 1.618 Fib extension at 522.17 which I talked about in my previous newsletter on SPY. While we are currently trading over this level, SPY continues to reject the rising wedge and is unable to get back into it. This means that the ideal outcome for bears

*TA as of 29/3/24 Hi everyone! I’ll be updating my TA on a stock I deemed to be “extremely explosive to the upside” previously: Carvana Co. (NYSE: CVNA) Since the time I last posted on CVNA at the end of January, it has seen a 100+% gain to hit new 52-week highs at 94.04. However, I have reason to believe that the move up is weakening. Bearish divergence has begun to show up on the weekly chart, and the move up has been on declining volume. A lack of participation at and above the 23.6% Fib extension at 91.64 (assuming swing low of 3.55, which is the last major low and a swing high of 376.83, which is the ATH) suggests that there will be a pullback to retest supports further down. We also closed with a potential shooting star on the weekly, which is cause for concern - the last shooting s

Hi everyone! Today I’ll look at one of the AI darlings of 2024: SoundHound AI, Inc. (NASDAQ: SOUN) From the weekly chart alone, SOUN is trading in a rounding bottom pattern with a key pivot at 14.08. Over the past few months, it has been making a consistent series of higher highs and higher lows. Significant volume spikes have been noted on green candles, suggesting bulls are firmly in control On the daily chart, we can see SOUN trading in a near-term ascending channel with higher highs and higher lows. I note that the stock has formed a bearish divergence on RSI, which has seen a move back to the support trendline. Interestingly enough, the stock appears to be putting in a third leg of hidden bullish divergence in the meantime. Divergence alone does not confirm anything, so we need to l

Hi everyone! I’ll be looking at another semiconductor stock: Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) TSM is forming higher highs and higher lows. It recently made new ATHs above 145 but has since come back below this level. I have identified 141.99 as a key pivot to reclaim for the next leg to occur. This was where prior ATHs rejected, and also a recent rejection zone (rejected even during Friday’s session). However, hidden bullish divergence has started to form on the weekly, which is a good sign for bulls. It is also trading in an ascending broadening wedge expansion pattern, similar to other semiconductor stocks such as AMD and MRVL. On the daily chart, the expansion pattern is more visible. I note that it is forming a hidden bullish divergence on the daily as well