Needlez33

Needlez33

Too many conditions are being met for a breakout. All that's left for it to be 100% is a little more volume (which is high to begin with but the recent spike is making the rest look diminished). Super high probability of a breakout. Its at the top of it's channel, oscillators are up, and my oh my a golden cross is forming. If you don't want to go balls deep on...

Needlez33 Updated 

Abt has developed an ascending triangle and even though friday's close was less than desired a strong catalyst is going to send this to the stratosphere. Abt began rolling out their rapid tests last quarter so couldn't really capitalize on that. However, all they have been doing since then is selling rapid tests, TO THE WORLD! I suspect this ER will show that...

Needlez33

Man this week looks like it's going to be bloody. The friday close, the bearish engulfing, plus the breakout to the downside from the channel i see SPY hitting 360$. If it doesn't bounce off that, 340$ is next. Oscillators are pointing down too. You should have your full attention to any calls you have expiring the 5th, especially if your security has a beta...

Needlez33

I am long Tesla but in the short term I'd be very careful. Looks like a breakout is imminent from a sorta symmetrical triangle. First stop is $860 and the next stop is $880. The second stop will most likely occur around Wed. Earnings should get speculations going but i plan on taking profits well before then. Happy trading.

Needlez33 Updated 

For the past week Tesla been between 555$ and 600$. Oscillators look good and the breakout from consolidation looks to be on the horizon. Friday's close with today's Futs in the green and the hype for it joining the S&P500 later in DEC. I don't see this dropping to 555$ this week instead i think it will go to 630$. Happy trading.

Needlez33

Looking at the monthly i believe the bottom has been reached and a reversal is imminent. The oscillators point up and the completion of this correction wave looks quite obvious. Last ER was great and Macy's has an internet presence. Sure it's not Amazon but they have shown profits in e-commerce. The future looks good with so many vaccines now seeking approval and...

Needlez33

The 6$ line is solid support gained from the monthly timeframe and the 12$ line is what i call soft resistance (a lot of activity here). What really is weird is how it closed on Friday. Check out the blue line, it was support and now is dead on resistance confirmed on Friday's close. Coincidence? Hmmmm. With all my oscillators pointing up and volume increasing i...

Needlez33

It's wayyy into the symmetrical. It's either going sideways or down. The decrease in volume along with the oscillators signaling a downtrend doesn't look like a setup for a rally in the short term. It can pullback after it breaks out, might want to swing that but honestly call credit spreads are looking good for now. I don't see this passing $425 this week

Needlez33

Yes $MO's investment in Juul didn't pan out like expected. Worry not, last week a bunch of states legalized marijuana. The direction is becoming clear where this is headed. $MO partnered with cronos and invested in $cgc. Marlboro is a brand everyone is familiar with. It's only a matter of time before they release their marijuana cigarettes to the masses. This...

Needlez33

This is the earnings play i have going on. Yes, it's probably not ideal to go in this week with all the election chaos that will undoubtedly affect the market. It's very high risk. So I'm executing an 8$ straddle 3:2 ration because I'm bullish. TA: Looks like a 5th wave development in progress. The oscillators aren't too convincing though but if it can break 9.50...

Needlez33

BA was about to break out of this Descending channel until news broke out about the 11% delivery drop. My oscillators and pointing down, the EMA's are about to cross, and with ER around the corner which is also expected to be bad i'm shorting this already with a $165 P DTE 10/23. I'm looking to sell this around $155 in the near future. Maybe the day after ER. We'll see....

Needlez33

Looks like a breakout is happening from the symmetrical triangle. Check out that channel. Will it pullback? ER will decide that but I'm bullish on this one. I have a 3:2 14$ straddle on this one being that I'm not 100% on this (am I ever?).

Needlez33

So many ppl look at this chart differently. My take is the obvious. Check out this channel that nio almost broke out of twice. Both were over 3 points and it looks like it's gearing up for another attempt. and if the past is any help that's at least 3 points from 22$. My contracts already have been making money but i might take some profit at 25$ and let the rest...

Needlez33 Updated 

I'm seeing $BAC give 2 attempts on breaking out of an ascending triangle. Was the breakout successful? Judging by the throwback and bouncing off support (old resistance) it would seem it on it's way to pass $30. Yes yes i spotted a cup and handle as well and the oscillators look bullish too.

Needlez33

While the oscillators are looking pretty neutral its a no brainer what everyone is going to be talking about on Monday and that's without any tweets from Elon. A breakout looks imminent in this symmetrical triangle coinciding with a 5th wave completion. Now the 5th wave should finish around 489$ but we all know how fomo is going to intervene. If it breaks 500$ the...

Needlez33

Some ppl are only interested in the TA and some are only interested in the Fundamentals so here's the split: TA: Here we see Tesla breaking out of a descending triangle and guys it can't go up forever. Hoped some of you locked in some profits but let's talk about the retracement that have so many in a panic. When should we start worrying? For me I have 2 levels...

Needlez33

Lately BA has been the King of descending triangles. You can spot 3 of them and it's been breaking out. That last small one is actually a retracement to the second one's breakout. BA has solid resistance at $190 and support at $170 only today it seems to have penetrated support. I can't help but wonder if BA's beta is responsible. It has a great start this morning...

Needlez33 Updated 

FB is trying to breakout of a falling wedge and it looks to be either failing at the attempt or consolidating. 264$ shows resistance and I'll be entering call credit spreads 265/267.5 if FB falls to 257$. 245$ was hard resistance weeks ago and it might touch that. I think FB has a bright future so I am bullish long term but for now i see this staying in range for...