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GBPJPY Bearish Retest| 200DMA| .50 Fibonacci| Support ConfluenceEvening Traders, Today’s analysis – GBPJPY – putting in a bearish retest, price is to test support, the next technical trade location. Points to consider, - Trend bearish retest (Daily S/R) - Support confluence (.50 Fibonacci & 200DMA) - Oscillators diverging - Volume below average GBPJPY has had an initial rejection from its Daily S/R, putting in a bearish retest. This allows us to have a bearish directional bias. The local support area has technical confluence (.50 Fibonacci & 200 DMA); price is likely to respect this area leading into a bounce. Both oscillators are diverging from price (double bearish divergence), this indicates weakness in the market as price struggles to close above Daily S/R. Volume is currently trading below average; an influx is likely to occur at support confluence as this is the next trade location. Overall, in my opinion, any rallies are to be sold into for a short play. Price action is to be used upon management/ discretion of trade. Hope this analysis helps! Thank you for following my work! And remember, “Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
Short
by The_Alchemist_Trader_
EURNZD Daily S/R | Support Confluence| .618 Fib| 200 DMA Evening Traders, Today’s analysis – EURNZD- deviating from local swing high, daily S/R is the next trade location with technical confluence. Points to consider, - Consecutive HH’s and HL’s (bullish) - Swing high resistance (respected) - Daily S/R confluence (.618 Fib & 200DMA) - Oscillators below 50 mid-point - Oversold bounce continuation The macro trend for EURZND is considered bullish with consecutive higher lows and higher highs. Price action respected swing high, now trading towards daily S/R. This area has strong technical confluence with the .618 Fibonacci and the 200 DMA. Price has a higher probability of bouncing here. Both oscillators are below 50, not officially overextended. Oversold conditions will coincide with price testing daily S/R, leading to a probable oversold bounce continuation. Overall, in my opinion, EURNZD, respecting daily S/R will allow for a valid long. Price action is to be used upon discretion/ management of trade. What are your thoughts? Thank you for following my work! And remember, “Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
XRPBTC Range Support|S/R Flip|200 DMA|Volume Influx| Swing Low Evening Traders, Today’s analysis – XRPBTC- impulse break back into structure with the immediate target being range resistance. Points to consider, - Swing low failure (local trend change) - Range support confluence (.50 Fibonacci & 200 DMA) - Range resistance target - Oscillators diverting to neutral - Clear Volume influx (temporary top) XRPBTC’s immediate trend has a bullish bias as it has confirmed a swing lower failure pattern with an impulse move up, higher targets probable. The range support has multiple technical confluences, the 200 DMA and the .50 Fibonacci. This area is highly probable to be respected upon an S/R flip retest. Range resistance is the local target, breaching this key technical level will change the macro trend, establishing a higher high. Both oscillators are diverting with a valid volume influx node present, this indicates a temporary top being in as price trades in a corrective manner. Overall, in my opinion, XRPBTC is heading for an S/R flip retest of range support. This will allow for a valid long with defined risk. Price action is to be used upon discretion/ management of the trade. What are your thoughts? Thank you for following my work! And remember, “Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas
Long
by The_Alchemist_Trader_
2
Bitcoin already above 200 Day MA on CME FuturesThe 200 Day Moving Average is a significant level for all assets and certainly for Bitcoin. The main event for Bitcoin currently is a test of the 200 Day Moving Average resistance which it is currently under. However on the CME Futures chart BTC is already above its 200 Day MA. We can see from these charts that this Moving Average bears significance on the Coinbase chart, however it also has signficance on the CME Futures chart where it cuts a very different path. There have been seven significant touch points in the last three months on the CME chart (shown here by the yellow arrows). Not only has BTC passed the 200 Day MA on the CME chart already, it also retested it yesterday. In summary, getting over the 200 Day Moving Average is a significant moment for any asset. The fact it's already happened on the CME suggests BTC could be even more bullish.
COINBASE:BTCUSDLong
by mastaplan
$SPWR On The Comeback Trail$SPWR is due for a rebound and after topping Q3 earnings, we believe the recovery is just starting. After the RSI got just below 30, $SPWR has been oversold and due for a bounce. Key to watch is the 200 dma of $9.20 a share. Here are the highlights from Q3: SunPower (NASDAQ:SPWR): Q3 Non-GAAP EPS of $0.07 beats by $0.05; GAAP EPS of -$0.11 beats by $0.16. Revenue of $499.7M (+12.7% Y/Y) beats by $24.41M. SunPower (NASDAQ:SPWR) traded higher after-hours following better than expected Q3 earnings and revenues on strength in U.S. and international distributed generation markets. Q3 adjusted EBITDA climbed to $42M from $8M in Q2 and $6.7M in the year-ago quarter. SPWR says it achieved record residential and new homes bookings in Q3, with strong traction in California ahead of the 2020 new home solar mandate, and record shipments into international DG markets. The company says it is tracking to a Q4 agreement on a potential investment to expand Maxeon 5 production. SPWR expects Q4 revenues of $520M-$720M, in line with $631M analyst consensus; gross margin of 16%-19%; adjusted EBITDA of $74M-$94M; and MW deployed of 445-645 MW. For the full year, SPWR maintains adjusted EBITDA guidance of $100M-$120M. As always, trade with caution and use protective stops. Good luck to all!
NASDAQ:SPWRLong
by OptionsGains
The Worst Looks To Be Over For $MAT$MAT is trading higher after delivering strong Q3 earnings and putting its accounting issue behind it. Here are the highlights from Q3: Dolls sales were up 5% during the quarter off a double-digit jump in the Barbie business, while the vehicles category saw a 13% gain off a stellar quarter for Hot Wheels. The company's adjusted gross margin rate improved 390 bps to 46.9% of sales to smash the consensus estimate of 42.6%. Mattel (NASDAQ:MAT): Q3 Non-GAAP EPS of $0.26 beats by $0.07; GAAP EPS of $0.20 beats by $0.02. Revenue of $1.48B (+2.8% Y/Y) beats by $40M. On the accounting issue: The positive news from Mattel is that the accounting investigation didn't find any fraud and the company is now free to go back to the debt market. During the earnings call, Mattel stated that it intends to refinance $250M worth of senior notes in a move that should lower costs. As always, trade with caution and use protective stops. Good luck to all!
NASDAQ:MATLong
by OptionsGains
1
$KDMN Set To Keep Climbing$KDMN is set up well both technically and fundamentally. The FDA just approved CLOVIQUE (TM), A Room-Temperature Stable Trientine Hydrochloride Product. This bodes well for the company as it moves forward. According to the press release: Product Offers Room Temperature Stability, Improving Convenience for Patients NEW YORK, NY / ACCESSWIRE / October 21, 2019 / Kadmon Holdings, Inc. (KDMN) today announced that the U.S. Food and Drug Administration (FDA) has approved CLOVIQUE™ (Trientine Hydrochloride Capsules, USP), a room-temperature stable, branded generic product. Trientine hydrochloride is used for the treatment of Wilson's disease in patients who are intolerant of penicillamine. CLOVIQUE is the first FDA-approved trientine product in a portable blister pack that offers room temperature stability for up to 30 days, potentially providing patients more convenience. In a recently published survey, approximately 30% of Wilson's disease patients cited product storage as a medication-associated inconvenience of disease management.1 "CLOVIQUE is an innovative treatment option that can be stored at room temperature, which is an added convenience for Wilson's disease patients," said Harlan W. Waksal, M.D., President and CEO of Kadmon. "We are pleased to offer CLOVIQUE to patients in need as part of our goal to develop novel therapies for chronic, rare diseases." Kadmon has immediately commenced commercialization activities for CLOVIQUE through Kadmon Pharmaceuticals, its wholly-owned commercial operation. In September 2019, the FDA approved Kadmon's generic Trientine Hydrochloride Capsules USP, 250 mg, available in 100-count bottles. The FDA had determined Kadmon's Trientine Hydrochloride Capsules to be bioequivalent and therapeutically equivalent to the reference listed drug, Syprine® Capsules, 250 mg. About Wilson's Disease Wilson's disease is a rare genetic disorder causing excess copper accumulation in the body that results in neurological and metabolic adverse events. About Kadmon Kadmon is a biopharmaceutical company developing innovative products for significant unmet medical needs. Our product pipeline is focused on inflammatory and fibrotic diseases as well as immuno-oncology. As always, use protective stops and trade with caution. Good luck to all!
KLong
by OptionsGains
$FLL Looks Set To Keep Climbing The Charts$FLL has not been a great investment for long-term holders, but the worst looks to be over. The price action the past 2 days has been positive with both days green on higher than normal volume. $FLL looks to be a worthwhile punt at current levels. Full House Resorts, Inc. owns, develops, operates, manages, leases, and/or invests in casinos, and related hospitality and entertainment facilities in the United States. The company owns and operates the Silver Slipper Casino and Hotel in Hancock County, Mississippi, which has 920 slot machines and 26 table games, a surface parking lot, approximately 800-space parking garage, and 129 hotel rooms; a fine-dining restaurant, a buffet, and a quick-service restaurant, as well as oyster, casino, beachfront bars; and 37-space beachfront RV park. It also owns and operates the Bronco Billy's Casino and Hotel in Cripple Creek, Colorado that has gaming space, 36 hotel rooms, and various acres of surface parking, as well as 1 steakhouse and 4 casual dining outlets. In addition, the company owns and operates the Rising Star Casino Resort in Rising Sun, Indiana, which has 917 slot machines and 25 table games; a land-based pavilion with approximately 30,000 square feet of meeting and convention space; a 190-room hotel; a 56-space RV park; surface parking; an 18-hole golf course on approximately 311 acres; and 5 dining outlets, as well as a leased 104-room hotel. Further, it owns and operates the Stockman’s Casino that is located in Fallon, Nevada, which has 225 slot machines and 4 table games, a bar, a fine-dining restaurant, and a coffee shop, and approximately 300 surface parking spaces; and the Grand Lodge Casino that has 270 slot machines and 17 table games, which is integrated into the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada on the north shore of Lake Tahoe. Full House Resorts, Inc. was founded in 1987 and is headquartered in Las Vegas, Nevada. As always, trade with caution and use protective stops. Good luck to all!
NASDAQ:FLLLong
by OptionsGains
2
$MU Is A Buy On Dips To $40$MU selloff looks to be overdone in our opinion. Other analysts agree with this assessment. Needham raised its Micron (NASDAQ:MU) target from $50 to $60 after Micron's earnings report. Taking note of Micron's downside gross margin guidance - attributable to the excess NAND inventory and related pricing - Needham nevertheless sees several upcoming catalysts for the memory cycle, including 5G and a normalized supply/demand. More action: Piper Jaffray raised its MU target from $36 to $46, but notes concerns over NAND supplies and ASP pressure. More action: Rosenblatt jacked its price target to $80 from $60. Micron Technology, Inc. manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels. The company provides memory products for the cloud server, enterprise, client, graphics, and networking markets; memory products for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer SSD markets; other discrete storage products in component and wafer forms for the removable storage markets, as well as 3D XPoint memory products; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its internal sales force, independent sales representatives, distributors, and e-tailers; and Web-based customer direct sales channel, as well as through channel and distribution partners primarily to original equipment manufacturers and retailers. The company has strategic collaboration with BMW Group. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho. As always, trade with caution and use protective stops. Good luck to all!
NASDAQ:MULong
by OptionsGains
ES1!: Watch for the breakdownWith the ES1! trading around the 2,750 region, it is time to revisit and look for another set up. This time round we are looking at an ascending wedge formation with the apex coinciding with the 200-days moving average. Ascending wedges are by definition a bearish pattern while the 200-dma happens to coincide with a congestion zone between Nov to Dec. I know there is some hate in relation to moving averages but I personally feel there is some information value especially when taken in context with other forms of support/resistance. Since I called for taking money off the table around the 2640's region, the ES1! has rocketed up another 100pts on diminishing odds of rate hikes, a second US government shutdown and higher Chinese tariffs. So what will be the bogey man this time round? I don't really know, but the whole backdrop of slower growth in the absence of tax cuts and global trade tensions just suggest buying at these levels appears to be misguided, especially with a debt refinancing wall round the corner. It is too simple to use traditional PE and PB ratios which would suggest valuations are cheap; These indicators are not adjusted for rates nor debt. Once adjusted, valuations remain elevated near the +1 standard deviation levels. My preferred stance would be to position for a risk-off trade with an initial ABCD target of 2260.
CME_MINI:ES1!Short
by WellTrainedMonkey
BTC strong resistance on 200 day EMAHi all, lets analyze hourly chart for BTC where we are now struggling with STRONG resistance at 200 day EMA. Breaking the level and then finding the support on top of 200 day EMA could be considered as good indicator for the end of the bear market. Currently BTC is in uptrend, having 7 consecutive higher highs and higher lows. Breaking the below the previous low at $7728 would mean a collapse of this uptrend pattern and thus bearish movement could be anticipated (this could also be a catalyst for dropping over what some analysts see as bear flag forming on 4h chart). Very important development on BTC is going to unfold. Be alert!
BITFINEX:BTCUSD
by ms100jke