APPLE 🟩🟨🟥 True Facts About Justin Bieber's Love of Apple💬Apple closed some stores for COVID related reasons in some states, but it also opened stores due to re-openings in other states. That is sort of mixed news for Apple.
Meanwhile, the fear in the market over a bearish IMF report and some rising COVID cases is legitimate.
Overall, however, there is logic and reason to bet on Apple.
Apple just made a string of bullish announcements at their recent digital-only keynote and Apple's chart is generally very bullish and tends to respect support/resistance levels.
Let's take a look at some Apple levels that the bulls will need to deal with to keep this tech giant's bull run going.
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Support:
S1: The S1 S/R flip and pivot point is a logical place for the bulls to find support if they should need it.
S2: The S2 orderblock is good backup support for the bulls. The market is a bit jittery right now, so it wouldn't be shocking to see a further correction and a reaction at S2.
S3: Finally, the S3 S/R flip and price pivot point at the previous all-time high (ATH) range should hold if a more substantial correction ends up being needed. Apple has every reason to keep running, but no asset is immune to the eventual correction after a big run.
Resistance:
R1: The R1 orderblock at the recent swing high and all-time high is the only identifiable level of resistance for Apple. As the only current level, it'll be important for the bulls to break this one and find support on top of it.
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Summary:
There are two likely paths for Apple.
One path we see the bulls quickly take out the all-time high and then find support on top of previous resistance.
The other path we see a continuation down, likely after a rejection of R1.
The path downward becomes more likely if the virus fears ramp up, as without fear it is hard to see why investors aren't rushing back into Apple.
Resources:
www.cnbc.com + www.cnn.com + www.npr.org
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Techstocks
Salesforce $CRM "cup w handle"$CRM has just cleared $184.80 handle buy point yesterday. RSI broke the trendline too and the volume was more than average.
12 months Consensus Price Target: $198.50
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ADVANCED MICRO DEVICES ($AMD) 💻 | New all time highs!?👨💻 AMD has been making advances in technology, earnings, and pure bullish price action on the whole. Despite some consolidation recently and the chance of more consolidation in the near-term, we still see upside potential for this titan of chips.
Support.
The S1 bullish S/R flip is a key support level for the bulls. Although rejection at this level could lead to "bearish" consolidation as indicated on this chart, we don't think this alone will jeopardize the uptrend. If we do go that direction, the S2 S/R flip and order block cluster should see a reaction and could present an excellent buying opportunity assuming we see continued strength in tech. Below that we have S3, which is a support of last resort.
Resistance.
The R1 orderblock and S/R flip cluster at the previous swing highs are bound to act as resistance unless the bulls can blast through it here. If breached, it then could become relevant as support. Meanwhile, the R2 bearish orderblock formed from the previous All-Time-High swing high is our next level of resistance after R1.
Summary.
AMD bulls want to see sustained momentum not only in AMD, but in tech as a whole. There is a pathway to a new ATH here, but any faltering and the odds of seeing consolidation, perhaps all the way into July 28th earnings, then becomes likely.
Resources: www.earningswhispers.com
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Nvidia is this sustainable?Hello everyone.
So from a fundamental perspective Nvidia has great products and technology, the profit margins are also great. But a 70/1 P/E ratio? Does that seem sustainable? I mean how many years would it take for the P/E to normalize with the price staying the same as it is, to let's say 20/1 which is still high relative to historical standards. Maybe there is something out there that will quadrupple the earnings of this company in a short time.
But let's we what the charts say shall we?
Well from a technical perspective the stock is overvalued, the red middle line is the average of the trend. And as you can see the price is way above the growth average. Pretty much confirming that what the P/E ratio tells us. The problem is in this sort of mania the price could go up even more before eventually going down. It's not safe to short here. Just keeping an eye on this stock is the plan now.
Also it goes without saying, I would never buy a stock at these technical levels and these valuations.
JUMIA - African Amazon Makes Another BreakoutOur previous objective of $6 is almost reached. A confirmation pullback pattern could form using the $6 resistance. If not, the next resistance is at $7.
Today's breakout represents a strong mid-term buy signal as we can now see a cup and handle pattern combined with a breakout.
We also note that the rally that started on 20 March point could be the start of a new Elliot Wave.
APPLE ($AAPL): Should We Buy the Dip (if We Ever Get One)?✨ New charts every day ✨
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Apple is coming off of good earnings and their new series of upcoming iPhones was just leaked (so far there seems to be a warm reception). With a strong uptrend and a monster of a company, it seems unwise to do anything other than look for a long position. With that in mind, one could argue the tech sector is a little overextended and running right into resistance here, not only is that true for the sector, it is also true for AAPL as well. The bet here is that despite tech and Apple being bullish overall, a pullback for Apple if not the whole sector is in the cards first. The goal would be to find an entry at support and ride this monster of tech back to resistance if not beyond to new all time highs.
Resources: appleinsider.com + www.earningswhispers.com
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1. Fractal Trend is showing a strong uptrend (Aqua bar color) on the 2 hour chart. The pullback to the S1 and S2 support levels should still be contained within the uptrend and not initiate a trend change (bar color change).
2. With this strategy, we we want to enter long on bullish order blocks plotted by Orderblock Mapping (Blue) and bullish S/R levels plotted by Directional Bias (Blue).
3. There are two really clear levels of resistance from the range formed in the earlier part of the year. We are looking at those Bearish levels (Red) to initiate a healthy correction to our S1 and S2 levels.
4. With that all in mind, we will exit positions if Fractal Trend changes color, at any point. This will help to lock in profits and limit risk if Apple can't retain its uptrend.
AAPL - Trade IdeaApple stock is in indecision zone. Fundamentals for stocks say recession / bear market but FED QE infinity is bullish for stocks. that is macro larger term view though. Here we see that APPLE stock is in an indecision point here under the 100 day MA. would like to see it break above this. then retest and have long entry at green 283.03, probably add 12 cents to that and make it 283.15 for front runners and then have my stop close due to high volatility in markets currently. Stop in Red on chart. If breaks red supply zone can enter short upon bearish retest. would place stop on green long entry. looks like more volatility coming and decent move either way just need to wait for the breakout and for market to choose direction. If we break down chance we are in larger range and can belong near 200 day MA at $248. would again place a tight stop as we can hit much lower rather quickly. stops will preserve capital in this market, but there is a lot of money to be made with the extreme volatility with proper risk management.
This is not financial advice but for educational purposes only.
Nasdaq waiting - Key level8000 barrier on Nasdaq
BULLISH SCENARIO
If the price manages to break completely the Key level @8000 & trade above it, bullish scenario will be confirmed.
To enter a buy trade we’ll then need confirmation on multiple time frames M5, M15, or H1 (i.e Breakout and Retest of the KeyLevel.
BEARISH SCENARIO
If price fails completely to break Key Level @8000 (meaning if the price trades below @8000.xx ) we’ll then wait for confluences like Rejections/Pinbars to sell in lower timeframes.
We are staying Neutral at this moment until more price action takes place.