Lots of support at $200 -- however so far buying pressure has kept it up.
Also a descending wedge has formed + a bull flag descending channel. Both of which are being tested with the current candlestick -- need confirmation for breakout.
Important: This has an expiration leading up to the FOMC meeting on 11/02
Considering the consumer confidence report just came out and the market seems to be bullish in general it might be possible that we push through the double resistance points at $217-220 and $223-225 and make a jump through the gap in the volume profile.
1h+ext and 2h+ext stochastic is over 60 -- however be warned, 4h+ext has yet to receive stochastic over 60, although this could change if bullish momentum continues.
Look for confirmation of breakout over bull flag and downward wedge. Look for confirmation above $225 resistance channel with increasing stochastic on the 4h+ext chart.
PT1: $235 (+8.31% -- Up through the first gaps of the volume profile on smaller time ranges -- this would hit close to the 0.382 fib retracement as well, so watch for resistance cues as well as resistance from the $235 chunk at the volume profile.
PT2 (max): $265 (+21.47%) -- Up through the second major gap of the volume profile -- this would hit closer to the 0.618 fib retracement as well, so watch for resistance here.
Stop loss: $208 -- Confirm rejection off of the previous supports
Not
Look for support above $215 for tomorrow's open. Tech earnings were particularly poor in AH; there is a chance that Not
Bulls need to clear $231 to gap up the volume profile to continue the run up to PT2.
Consider taking profits ahead of FOMC meeting or de-risking.
İşlem kapandı: hedefe ulaştı
PT1 hit this morning. Closing this out. Hopefully y'all took profits as well. At this point small potential that FOMC is bullish for the macro -- if so, we might see a run up again past $230 but right now there's tons of calls against the bulls at $230, $240 and $250 for this week so I would recommend taking profits and de-risking.Feragatname
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.