RMStockTrader

RMStockTrader Updated  May 20

Apple bounced straight of major support at circa $170, with the SMI now also rising we could see a few weeks of short term respite before continuing down to test the major support line again. Also notice a backtest of the rising trend at around 21%. Long term view is still bearish, don't think we've seen the yearly bottoms yet. Will be interesting to see how this...

RMStockTrader Updated  May 20

Yesterday's historic bounce reacted a little to perfectly to the monthly trend-line pictured. Whether coincidence or not, this break in momentum will likely provide an interim bottom to the downtrend and give us a few weeks of reprieve before continuing with the bear market. $37,000 the level to watch. My outlook is generally still flat although it is useful to...

RMStockTrader Mar 12

Based on seasonal data mid to late March marks a positive shift for the S&P 500. VIX has held above current trend to aid the latest correction on the S&P 500. A clear break below the trend line on the VIX could offer a significant opportunity for a counter trend rally before markets continue downwards.

RMStockTrader Updated  Oct 5, 2020

US Oil has had an incredibly strong recovery since reaching negative territory back in April. It now seems we're running out of steam and levelling off, offering the potential of more downside. Following price action it now seems we're being squeezed into a flag pattern and approaching a boiling point (technical flag patterns have been proved to react well on both...

RMStockTrader Sep 3, 2020

After the historic bull run across the commodity market it seems we have finally seen a long awaited pullback. My medium/ long term projection is still favouring more bullish price action although as it stands all pairs are range bound. It seems as though Copper in particular has been scooped up by Chinese investors as well as being influenced by a boom in home...

RMStockTrader Updated  Aug 26, 2020

I've been holding this trade since Tuesday (today being Thursday) but Twitter finally seems to be gaining some upside momentum. Trading within the given channel we had a number of confluences align, starting with a perfect tap on the 0.382 fib retracement level. At the same time we also had a tap of the dynamic support (50 EMA) and 3rd bounce of 4 to complete the...

RMStockTrader Updated  Aug 18, 2020

As hard as it is to predict the movement of any index fund at the moment without a deep dive into the fundamentals - it appears DJI has formed a well respected ascending trend line with several higher highs and low tests. Within the current economic bubble we can expect a crawl up to our recent highs of 27500 (at least) before re-assessing.

RMStockTrader Updated  Jul 20, 2020

Bitcoin is still battling between $9000 and $10,000 without much clear direction. Following the unfortunate BTC scam on Twitter the crypto space has gained much publicity - whether this is good or bad for the space remains to be seen. In the meantime my bias remains bullish with a test of $9300, a breakout would further confirm this run, our next stop being $9550...

RMStockTrader Updated  Jul 8, 2020

June has been a choppy month for Gold to say the least - with many rallies failing to break through to any substantial levels. We've now broken through a well respected resistance level and tested once, potentially turning this into support. If we can hold this rally our fib retracement shows substantial upside gain, taking the price of Gold to our first target of...

RMStockTrader Updated  Jun 22, 2020

Being the baby brother of Gold, Silver has followed the upward momentum to meet 17.500. Unlike Gold, Silver tends to trend sideways before breaking out, providing us with an opportunity. We can reasonably expect to trade between the boxed levels (16.800 - 17.800 approx.) before a potential move higher.

RMStockTrader May 5, 2020

M&S have had an unfortunate ride with the sudden exit of their CEO followed by Covid-19. Nonetheless, we are trading far below its intrinsic value. As seen we are reaching the final quarter of our descending channel as well as nearing a return to normality from the Corona virus. We can reasonably predict that a break of the channel resistance will take us to our...

RMStockTrader Updated  Apr 2, 2020

Walmart has been trading within it's ascending channel since the start of 2019, obviously throwing around corona volatility since the start of this year. We are now approaching a potential neckline region and tap of the lower channel before recovering slightly into a right shoulder. Profit taking between 118. - 120.

RMStockTrader Updated  Mar 26, 2020

Beside the fact that Coronavirus is crushing stock prices - Dominos has been in a long painful correction since better than expected Q4 earnings, taking it's price to ATH and testing new ground. Price has broken through the descending channel shown, turning this into the upper axis of a flag pattern, the lower axis being support at 334. A close below 334 will...

RMStockTrader Updated  Jan 10, 2020

As seen on the right (1W) Facebook has been ascending since Christmas 2018 and is now approaching the 2018 high of 218.7. We have a slight retracement on the 4H giving us an ideal entry to TP @ 218 and tight SL @ 210.5. If TP is hit it will provide a better buying opportunity - if we reach 218 we will then re assess reaction to the previous high.