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Double Top or Bottom

GOOGL may be ready to rally with the other Magnificent 7.NASDAQ:GOOGL has not performed as well as other Magnificent 7 names, which are currently trading much higher than their August 5th lows. If NASDAQ:QQQ continues to build above its daily 50 SMA, and other technology names in this space continue to move higher, GOOGL may start to move higher as well. GOOGL has held demand at the retest of the previous all-time high and may break out of a falling wedge on the weekly chart.
NASDAQ:GOOGLLong
by DMT_Doctor
4
Swan Energy: Double Bottom Formation Suggests Potential ReversalThe chart is actually showing a double bottom pattern. This pattern is characterized by two consecutive low points, followed by a rebound. Technical Analysis: * Double Bottom: The formation of two similar low points suggests a potential reversal of a downtrend. * Neckline: The line connecting the highs between the two lows acts as a neckline. A breakout above the neckline could confirm the bullish reversal. * Volume: The volume appears to be increasing during the formation of the double bottom, which is a bullish sign. * Moving Average: The 50-day moving average (MA) is currently below the price, indicating a bullish bias. A break above the MA could further confirm the uptrend. Trading Strategy: * Wait for Breakout: A conservative approach would be to wait for a clear breakout above the neckline with increasing volume. * Stop Loss: Place a stop loss below the recent low to limit potential losses. * Target: The target could be based on the height of the double bottom or technical indicators like Fibonacci extensions.
NSE:SWANENERGYLong
by TradeAXN
AUSSIE will be the last to move on interest rates. Buy AUD CHF Do you ever wish you could make that BIG move in a trade, over maybe a couple of months but for big-bucks. Timing is everything for these big moves. They don't make it easy for us retail traders to capitalise on these big moves. AUD CHF is a very high time frame double bottom right now. Recommended to scale into with tiny lot size, so you can watch it, and then master how to trade these huge double-bottom systems for the big money in the markets. AUD is returning to the strength it had through 2023. This is a way to get in at the bottom. * Trading is risky. Not to be taken as investment advice. For education and illustration purposes.
Long
by Easy_Explosive_Trading
Analysis of CAD/JPY – Potential Reversal and Bullish MoveOn this CAD/JPY daily chart, we can observe the formation of a potential double-bottom reversal pattern near the 102.86 support zone. The price has rebounded from this area, indicating strong buyer interest and a possible shift from the previous downtrend. This pattern suggests a possible bullish reversal if confirmed with a breakout above the recent highs. Key Levels: Support: 102.86 – This zone has been a strong demand area and has provided solid support for the price. Resistance: 115.76 – The first resistance to break is at 107.23. If this level is breached, we could see further upside toward 115.76. Technical Indicators: Moving Average: The chart includes a moving average (blue dotted line), which is currently slightly above the price. If the price manages to break above the moving average, it could signal a continuation of the bullish momentum. Momentum Indicators: The lower panel shows the TDIGM oscillator indicating a positive upward curve. This suggests that momentum is gradually shifting in favor of the bulls. If this trend continues, it would further confirm the potential for a bullish reversal. Bullish Scenario: If the price breaks above 107.23, it would confirm the double-bottom pattern and could lead to a strong upward move toward 115.76, providing a solid risk-to-reward ratio for long positions. Entry: A possible long entry could be placed just above 107.23, confirming the breakout. Stop-Loss: The stop-loss can be placed just below the support level around 102.86 to manage risk effectively. Target: The first target could be set near 115.76, offering a favorable risk-to-reward ratio. This setup is showing potential, but as always, wait for confirmation before entering any trades. Bearish Scenario: If the price fails to break above the 107.23 resistance and falls back toward 102.86, this would invalidate the bullish setup and could lead to further downside, potentially breaking the support and heading lower. Happy trading!
Long
by MrVNpt
Alikze »» CELR | Triple Bottom🔍 Technical analysis: Triple Bottom - In the weekly time frame, a triple bottom has been formed at Fibo 0.78. - According to the return candle in the mentioned area, we expect at least this motivational wave to continue its growth until the neckline. - This climb can have at least 50 to 60 percent profit yield. 💎 Also, if the 0.78 area is broken, the bullish scenario will be invalidated. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»«««
Long
by alikze
Micron – Ready for Breakout After Earnings?Micron ( NASDAQ:MU ) is handling the potential double bottom formation well, with a key breakout level approaching at $109. I wouldn’t jump in until it crosses this level, as I want to see the stock approaching its 150-day moving average, currently around $112.19. Once we see that breakout, I’d expect a solid trade with a target around $136.50. While I’m not in Micron for the long term yet, I believe this setup could make for a strong short-term trade. Technicals are lining up: RSI is bouncing back from oversold, volume is increasing, and a bullish engulfing candle just appeared. All signs point toward an upcoming breakout, but it will be key to see if the earnings report can provide the final push. Earnings Expectations: Revenue and Earnings Beat: For the stock to break out, Micron needs to deliver a revenue beat of 2% or more . This would signal they are navigating the current semiconductor environment effectively. Raised Guidance: Investors will want to see next-quarter guidance raised by at least 3% , especially in AI, cloud, and memory demand sectors. Inventory Management: The market will look for signs of reduced inventory and stable or improving pricing for DRAM and NAND chips. AI Partnerships: New developments or partnerships in AI could serve as another catalyst for growth. The market is waiting for a clear sign of recovery. A beat on earnings and a strong forward outlook could be just the push Micron needs to break through the $109 resistance and begin a new uptrend. What do you think? Will Micron’s earnings be the catalyst we’ve been waiting for, or is the stock still too risky at these levels?
NASDAQ:MULong
by elka_graph
4