There pose a risk!!! 🚨
Hey all! hope you are doing well after the massive sell off on Thursday scare of AI over bloating. ![]()
As it is a Saturday and there is no trading day, here are some of the opportunities and risk I'm seeing.
Daily chart and explanation below: 👇👇👇
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Here are my takes on bullish and bearish indicators.
Bullish indicators ![]()
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1. Currently price is standing above 20 MA which means there are some bullish signs. Green doji as a supporting evidence Potential above 133 end of next week! 🚀🚀🚀
2. Trade volume in the green which indicates some level of confidence by institutional holders.
3. Not so perfect formation of a cup ☕ and handle ☕indicating a bullish sign.
Bullish Target price : 131 to 133 end of week. If above 135 prepare for stonks 📈📈📈
Bearish indicators :🐻🐻🐻
1. MACD still showing a bearish trend. This indicator indicates that it may test for break of support at 125 - 126 range.
2. Long top candle wick indicating a bearish trend potentially hammering down favouring the bears. Further evidence to support this case from weekly chart.
3. Warning! ⚠ : free fall may reach to 100 based on weekly chart.
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Bearish price target: 117 - 118 end of week. If hold true prepare for free fall 📉📉📉 worse case to 100!
My opinions: voilatility ahead! Trade with caution and trading opportunities.
In my humble opinion, I'm seeing that next week could go either way. Trading opportunities are between 125 and 131 next week.
If you are in the long, thread carefully and take some profits if it hits above 134 range or stop loss if it breaks below MA
If you are short, be prepared to take immediate buyback if reach around above moving average. Safer range would be below the MA line.
That's my pennywise 🤡 🤡 🤡 opinion. Happy weekend and may trades be ever in your favour on Monday! 💰💰💰
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Casual social trader and investor. Love to read charts for trade and love to read financial report to invest.
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Aaron Invests (AI) OP : Don't forget to leave a comment for your justification cheers!
AllenWhight : Only fools panic!
Lau Yong Chang : Hi @Aaron Invests (AI), thank you for your sharing, greatly appreciated. What do you think of the two long red candles (on the day of ATH) and on Thursday? Do you think they might indicate some bearish bias (due to the long run up in prices) despite the price is holding about the 20MA? Thank you.
Aaron Invests (AI) OP Lau Yong Chang : Absolutely, there is a bearish bias that it may tank at the same time feeling bullish. So I decided to buy the dip bit by bit instead of worrying a free fall.
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If it free fall instead of cut loss I decide to buy more and double down. As we can't really time the market perfectly. Is better to be time in the market instead.
Lau Yong Chang : Thank you, greatly appreciate your insights.
Aaron Invests (AI) OP Lau Yong Chang : Welcome. Some disclosure. This time I am all in but I have to practice some back up plan. I have other stocks that is covering this loss so I'm all good.