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RMBL Indecisive and Volatile On the daily, RMBL is indecisive which is indicated by the Doji candles. The bears have not been able to push the price down since Aug.21 past support at or around 29.10. With big tech sell off last week, RMBL touched support on Sep. 8, 9, and 11 but the bears could not push it lower. Bollinger bands are wide open indicating volatility in price, so no squeeze there. To enter this trade long, a bullish confirmation candle is needed and currently there is not one. It is currently trading just slightly below the 20 day SMA. Once a confirmation is made and an entry, I would set my stop/loss right below the support level of the hammer candle from Aug. 21, at or around 27.08 in case shiz hits the fan. This stock is trending upwards and the sector is hot right now and Covid has changed consumer behavior so I believe this to be very bullish long term with a $50+ price target by December.
NASDAQ:RMBLLong
by VelvetBarbie
Oversold, signaling reversal with upcoming catalystOn Aug 28th this signaled a reversal demonstrating a similar pattern, oversold after two red days with a long-legged Doji candle, indicating this pattern may result in upside again. Support below can be used as entry upon re-test, short-term resistance above can be used for profit targets upon rejection. Fibs drawn are a retracement of the recent move high to low. Above the 0.5 fib is particularly bullish with targets above. Note the upcoming catalyst, inclusion on the S&P 500 slated for 9/21.
NASDAQ:ETSYLong
by SpinTrades
Amazon.com Bounces at the 50-day SMAThe Nasdaq-100’s sharp pullback last week brought all kinds of solid names back to earth. And one of the most prominent is Amazon.com. Jeff Bezos’ e-commerce giant triggered some alerts on TradeStation yesterday and Friday after dipping down to test its 50-day simple moving average (SMA). This provides a fairly straightforward momentum setup. AMZN is also holding the top of a bullish triangle around $3,250, which it broke three weeks ago. Next, stochastics show an oversold condition. Finally there are some potentially bullish fundamental considerations. One is limited exposure to China – unlike chipmakers or Apple . That may reduce its risk given the political backdrop into November. Second, AMZN has the highest share price in the Nasdaq-100 and the second highest in the S&P 500 (after homebuilder NVR). Tesla and AAPL just delivered stock splits. Will AMZN follow? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AMZNLong
by TradeStation
Shopify Has a Bullish TriangleShopify has been one of the strongest tech stocks since early 2019, leaving Amazon.com and even Tesla in the dust. It’s been quiet recently, consolidating in a tight range, and now that pattern is morphing into an ascending triangle with breakout potential. SHOP began July by moving above $1,000 for the first time, having tripled from early April. It tried to gap higher following a strong quarterly report on July 29, but MACD was falling so the sellers knocked it lower. (This looks very similar to Nio about three weeks ago.) But now MACD is starting to turn positive. SHOP has also held above its August 20 high and 8-day exponential moving average (EMA) yesterday. Those three patterns suggest the short-term momentum may be turning more positive again and moving back in unison with the longer-term uptrend. This may be a sign of momentum buyers returning. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:SHOPLong
by TradeStation
1
Etsy Has Deepest Pullback Since its Rally BeganE-commerce has grown dramatically in the era of coronavirus, as most traders know. A lot of the attention has obviously focused on the big names like Amazon.com, but smaller player Etsy has risen even more. ETSY crushed forecasts the last time it reported on August 5, with revenue more than doubling from the previous year. The stock ran into the news and then drifted lower. It’s now approaching some interesting levels. First, ETSY’s low today of $116.63 is slightly above its early-July peak. Second, it’s barely $1 above the 50-day simple moving average. That’s the closest it’s gotten to the 50-day SMA since early April. The shares are also oversold based on stochastics. Given the short-term weakness, traders may wait a little longer before doing much with ETSY. There could also be opportunities nearer $110 if there’s one final push to the downside. Still, ETSY’s been a very strong name in an important corner of the market. It may be time to start watching it around these levels.
NASDAQ:ETSY
by TradeStation
AFTER LOCKDOWN IMPULSE SHOPIFY IS RANGING - SHOPIFY - DAILYThe price has clearly moved up from February this year. There is a strong correlation between the pandemic global issue and the increase in price. 2020 has been a game changer and we have noticed that the market went up before finding a strong resistance illustrated by the horizontal red line. Market price is still evolving along the main blue trending line, but might need to push down to the lower level of the new horizontal range created before testing again to break the red resistance. Overall there a strong probability to see the market price break the red support line, any point close to the bottom support line of the new range is probably a good long entry point.
NYSE:SHOPLong
by Diallo_Charts_Ideas
7 Reasons to buy DXLG now!DXLG Destination XL Group, Inc. is a leader retailer in Big & Tall men's apparel. Company is publicly traded since 1988 The Monthly chart shows a buy setup in 7 different aspects 1) Massive buy volume in the month of July. Buyers are mostly institutions as you can see in the following link. As of today 70% of shares are held by institutional funds. i.imgur.com 2) Absolute third bottom since 1998. The last time DXLG was at this price was during 2009 crisis. This is the definition of buying the dip. 3) Tom Demark Sequence reached 9th sequence. For those who know about TD Seq , numbers 8 and 9 indicate a reversal 4) 3 different divergences are formed at this level. MACD , VWMacd & MFI . This means price has to be higher according to these indicators but instead it went lower and created a divergence 5) Williams Vix Fix Indicator is used to identify the bottom of a trends. As you can see from the green bars that we reached the bottom and a reversal is imminent. 6) SToch RSI is bottomed and now picking up 7) MACD in the red area heading towards green Cash Runway Analysis Stable Cash Runway: Whilst unprofitable DXLG has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level. Forecast Cash Runway: DXLG is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 50.4% per year. Company got hit hard by COVID-19. Brick & Mortar stores had to close temporarily but sales continued through website and Amazon.com In a medium term trade(1 - 2months) you can target a reasonable profit of over +25%, the longer you hold, obviously the more profitable it gets according to the past data. As you can see the stock traded between $0.3 / $15 in the past. Please do you own due diligence and remember it's a chaotic year, so always look for safe plays.
NASDAQ:DXLGLong
by Kryptolinks
FSLY- When the momentum stock loses its momentumTrend line is temporarily broken and there was no strong bounce back after the price crashed to the confluence zone of POC, 50 SMA and fib 38.2 level, indicating a weak demand at this lvl. There is little sign of decreasing selling pressure at this moment. If FSLY doesn't get back above the resistance and supply zone of 90 convincingly in the next days, party may indeed be over. Generally speaking, when you see the momentum stock decline significantly after the positive earning, this should be your first warning sign that investors are disappointed that the stock fails to live up to their lofty expectation. This is especially true for momentum stocks with lofty valuation. Market tops are often made when stocks react negatively to positive earning or when stocks stop going up on positive news. It is possible though that the short-term negative sentiment is caused by the TikTok news, but it is undeniable that the growth of enterprise clients for FSLY has slowed down recently. The overall macro is still good for Fastly though as E-commerce is still thriving. I am also bullish on the cybersecurity industry as whole and another market-leading CDN in the edge computing space you can capitalize on is NET. Thank you for reading through my analysis! Don't forget to click the like and follow me :)
NYSE:FSLY
by Libratus
Alibaba: Entering an expansion phase towards $400.BABA is currently consolidating on the 1D chart (RSI = 59.048, MACD = 6.230, ADX = 19.815) but the important news of the month is that it broke in July two very bullish long-term patterns (the blue Channel Up and the dashed Higher Highs trend-line since Jan 2018) to the upside. This resembles the expansion phase that Alibaba had is 2017. If an identical +140% sequence is completed then it can make a new high around $400 by late 2020-early 2021. Our Target Zone when we'll start taking profits is 370.00 - 410.00. ** If you like our free content follow our profile to get more daily ideas. ** Comments and likes are greatly appreciated.
NYSE:BABALong
by InvestingScope
MELI and SE CorrelationMercadoLibre ( NASDAQ:MELI ) and Sea Limited ( NYSE:SE ) are two highly correlated stocks in the same sector (Internet entertainment/e-commerce). Since SE had a 50% increase in the second half of 2018 (marking the beginning of the market-cap similarities), their correlation began, and SE's large moves (or lack thereof) are highly likely to be precursors to moves from MELI, making it a rare case of a leading indicator unlike most (i.e. RSI and MACD which are lagging indicators). As these moves take time (usually about 3-6 weeks), these plays are for multi-week/month traders who seek consistent returns. I've annotated the correlation plays within the last two years which should serve as a framework for anyone seeking to take advantage of these opportunities in the future. TL;DR: SE and MELI are highly correlated, and, as annotated in the analysis, SE is a leading indicator for MELI generally speaking. The areas of big moves by SE are usually precursors for big moves by MELI, and areas of consolidation by SE are usually indicators that MELI's big moves will reverse. Ideal time frame: 2-6 weeks per trade. As always, do your own due-diligence, never risk too much per trade, have your own plans and targets, and be responsible. Chart image without volume:
NASDAQ:MELI
by Ricardo_N
NET - MOMENTUM TRADE SLINGSHOTCLOUDFLARE (NET) met expectations 2 days ago on my previous post and broke out from a Blue Sky Set-Up. It paused yesterday for profit taking and is currently set-up again to continue it's move to hit a round number target. Needham just raised its price target to 38, a mere 3% away from it's current price. NET is a clear beneficiary of the shift to work from home and e-commerce on increased demand for cybersecurity. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices. Current set-up is a slingshot which could potentially result to another Bullish Marobozu similar to the breakout candle. Possibilities are: (1) it pauses for another day (today) with low volatility or (2) continue its range expansion and hit 38-40. Pauses can extend to three days with tightening ranges and decreasing volume indicating a healthy profit taking before proceeding to make an explosive move which is otherwise referred to as a Boomer Set-Up. Best approach to prevent early participation if explosive breakout doesn't materialize is to buy at the break of the yesterdays high supported by volume acceleration. This can clearly observed and managed on the 15-minute chart.
NYSE:NETLong
by TradingMavericks
Short SHOP Overbought on low volume. Short 750, Stop 775, Target 1 670, Target 2 590. Shopify has benefitted from an increase in stores on the platform during the pandemic but this short term metric does not justify a longer term price. Yes, it's been necessary for traditional brick and mortar only to migrate to e-commerce but this is priced like those customers are going to be around for the net 20 years, not just implementing an emergency strategy to survive in this extraordinary time. Great first quarter results, and a sound business, but a little too rich at this time.
NYSE:SHOPShort
by SilverEagle