Todd River BullishTodd River Resources (ASX:TRT) is an Australian-based resources company that holds base and precious metal projects covering over 7,500 sq. km. of highly prospective geology in Western Australia and the Northern Territory.
2 potential scenarios.
Bullish:
- Short term Double Bottom
- Testing short term downtrend resistance
- MACD turning Bullish, anticipated cross
- RSI broken above the 50.00
- Daily close above MA 20
Looking for retest of Previous High and if it is to break I have identified higher levels with Trend Based Fib Extension.
Ongoing drilling programs and results pending.
Bearish:
If price fails short term downtrend resistance it most likely will retest Daily Support. If it cannot rally again I am looking for levels of Former Support and Longterm Uptrend.
NOTE: Potential Descending Triangle pattern forming highlighted in yellow.
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
Descending Triangle
Is The EV Hype Dying? Descending triangle - NIO (Daily)Hi everyone,
Quick update on NIO here. After a tremendous rise throughout 2020, NIO caught the eye of many people, me especially I first bought in at $14 but when it inched closer to $50 as soon as three months later, that was a big no no for me. So ever since then it went a bit higher. Fast-forward to today, however, it's back around $35, which makes me wonder...is the EV hype dying? Are valuations going back to normal? The on-going chip set shortage is clearly having massive strains in the industry. And recently, the prospect of higher bond yields, greater interest rates and a comeback of inflation may significantly harm fast-growing companies like NIO. The same would not really apply to Tesla, since it is already a well-established, grown-up company.
Now off to the chart - as you can see on the daily chart for NIO here, you can clearly see a descening triangle with decreasing volume. This is alarming, because something that looked bullish a few weeks ago as a potential double bottom, is now looking pretty bearish. If price breaks anywhere below $35, NIO may see an even lower low later this month. The decreasing volume also confirms the pattern. However, there can also be a bullish approach to this. The price may squeeze, with the decreasing volume, and send the price back upwards towards $40. Nonetheless, there is a lot of uncertainty around this price action, so my guess would be to first assume a bearish case here, but be open to the idea of a price reversal.
Note: Not professional financial advice - please do your own DD.
Nio Is at a CRUCIAL point!
Where is Nio now: In a descending triangle, on the first support of $34.64.
- The descending triangle indicates bearishness but this is the third time it has been on this level which could result in a pullback back to the $39 levels or even $45 but by how weak the stock is right now it seems like it's going to be unlikely.
- RSI is still not oversold and EMA's still haven't passed which indicates more drops could come.
What could happen: If Nio goes below the second $31 support then it won't see blue skies for a while, its next support would be at around $27 which could be weak, and then hitting something in the $16 area.
The only good thing going on for Nio right now is its Sinopec collaboration. Nio is a very good company in the long term that could grow exponentially. However , Nio is too big of a risk at the moment to invest in the long term and I would just hold on for a while before buying as it is pretty unstable.
Nio might be a descent swing for the next week but still risky.
PDD: You should be aware of this chart pattern!Hello traders and investors! Let’s talk about PDD today! It is the first time I analyze this stock, and I hope my insights can be helpful. In this analysis, I'll present you two strategies to follow.
First, in the 1h chart, we have a Descending Triangle chart pattern, and the trend is clearly bearish, as the 21 ema is pointing down, and the price can’t trade above it.
This makes the situation more favorable to the bears, at least in the short-term , and as long as we don’t see a clear breakout upwards from this Triangle, the bear trend will persist. This Triangle is the best chance PDD has to reverse this bearish sentiment.
Now, there’s two strategies we can use. First, if we see an upwards breakout, second, if we see a downwards breakout. Either way, this Triangle is the key, and the targets are better seen in the daily chart:
If PDD breaks this Triangle downwards, then it’ll just seek the next support level, and the most meaningful support is the red line at $ 121.28. Then we’ll see how to proceed. Maybe PDD will lose this line, or it could do a nice candlestick pattern and trigger a possible Double Bottom pattern – we can’t know for now.
On the other hand, if PDD does an upward breakout from the Triangle in the 1h chart, the next resistance is the target, which is at the green line ($ 152.06). This is also a pivot point , and the trigger of an Inverted H&S chart pattern , as evidenced by the green area. If triggered, this pattern will officially reverse the trend in the mid-term , and PDD would have a first target at $ 188 , and it could go even higher, above $ 200.
Since PDD is dropping with low volume , this makes me wonder if this bearish movement will have the strength to persist.
Either way, we must keep watching PDD closely, and if you liked this analysis, remember to follow me to keep updated with my daily studies, and please, support this idea with your like!
Thank you very much!
GBPJPY - descending triangle provides sell opportunityD1 - bearish divergence.
H1 - descending triangle.
If we get the breakout down, i'd expect 148.50/70 zone to be reached.
ISORAY Looking bearish at the moment. I only see bullish signals when we see a double bottom. But the volume is still missing.
OMGUSDT descending triangle - LONG position - Target 11.25 OMGUSDT is soon going to break out of Descending triangle. This is very bullish.
Daily descending triangle on #AXTI $AXTI . Watch it closely Daily descending triangle on #AXTI $AXTI . Watch it closely for breakout .
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#SP500
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#qqq #spy #SPX
NIO: Good Risk/Reward ratio? Key points for NIO!Hello traders and investors! Since our last study, NIO didn’t trigger the pivot point we mentioned, but it still could. Let’s see how it has been behaving.
First, in the 1h chart, we have a slow and weak bearish movement , but it seems NIO found a floor around the green line at $ 36.82, and it worked multiple times as a support level.
What’s more, we have a purple trendline connecting the descending tops, making this something like a Descending Triangle chart pattern. And it is great that today we have an upwards breakout from this pattern, as this could trigger a very nice reversal in the short/mid-term.
Nio must keep above the purple trendline now, and above the 21 ema, if NIO wants to reverse the trend in the daily chart as well. Speaking of the daily chart:
In the daily chart, we still see the orange line at $ 42.05, which is the most important pivot point to be triggered . If the trend reverses in the 1h chart, then probably NIO will trigger this pivot point for good.
The risks: The volume is still too low, so we must see a good reaction with good volume first. In addition, the 21 ema seems to be a strong resistance level too, and since the sell-off started, at any moment NIO traded above it.
But if it triggers the points mentioned, NIO could easily seek again the $ 66.95 , as the trend is still bullish in the long-term, so, it seems the odds favor the bulls in the end.
Now, if you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea with your like!
Thank you very much!
USD/CAD in a descending triangleHi traders!
the price is moving in a descending triangle. I would wait for a break of the structure on the downside since the pair is extremely bearish.
Cheers
ITC DESCENDING TRIANGLE PATTERN ON 1HR CHARTITC is making a descending triangle pattern on a 1 hr chart. Good for Intraday and Short term. Look chart for further information. I have also marked the supply zone so BE careful in intraday.
Descending Channel for TNY?!?!TNY appears to be trading in a descending channel on a micro-level.
Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices, but only after an upside penetration of the upper trend line.
On the KST there has been a bullish cross where I've placed the green downward pointing finger.
On the RSI the downward sloping resistance of a descending triangle pattern is being negated, very bullish and it's possible the price will breach the blue downward sloping resistance of the descending channel to the upside if Tinley can release some note-worthy news next week, don't hold your breath.
A breakout to the upside means there's a shift from bearish sentiment to bullish. It’s recommended that buying into this break should occur after multiple tests of the upper channel line. The reason being breakouts early on in the channel often lead to traps as shorts push the price of the stock back down to the lower end of the channel.
(ZAP) Descending Triangle + MACD turning bullishDescending Triangle breakout is beginning could be a great opportunity to long. Another bullish signal is MACD looking to crossover.
