Thinking about which financial instrument to add to your portfolio is always a challenging task, especially in a market where almost everything is overbought. You may already own these three stocks, but if you don't they have good technicals and fundamentals to get in or to add up.  Starting first with Ferrari. At first, sounds like an exotic stock, but the race-car manufacturer is still on track. And it's not because of the newly born millionaires from the latest rise in the price of Bitcoin ...  Let's take a look at what's under the "hood" of Ferrari. Technically we have a well-for ..read more

I've recently published my short-term view for SPY in Commonstock (by the way you should check it ASAP it's an awesome place!) and I've laid out two potential scenarios for the price to develop.  Friday we saw big activity in volumes and the price pushed below the internal support line. With the two cases currently we are taking the path of the bearish one. On Thursday we've closed in a pinbar which was an additional price action confirmation that we are heading into a reversal. If the current conditions remain I would expect for the price to fall down towards the $360 zone. It is a psyc ..read more

Making a different kind of post here as we had a really impressive week especially for a couple of stocks that caught the eye.  First starting with Luminar Technologies $LAZR. For some time this stock has been on the radar of investors and traders and there is a reason. Not only promising perspectives for the company but the presence of a symmetrical triangle. Volumes are low as the figure is still forming and Yesterday we closed with a slight breach of the figure. I would wait for further development of the price as the volume on Friday's push wasn't that impressive. But definitely keep ..read more

Taking a look back at XLE we can see that the ETF has returned to test the area of breach of the symmetrical triangle (or the current support of the descending trend line). Pick up in volume shows that the activity has risen and market participants are getting excited. A breach was made a classical follow-up test was made. Currently, we are sitting at the support and overall there was no attempt in Yesterday's market session to push below it. The dip was bought and XLE closed firmly with a fresh high for the day. Even though here RSI and MACD are laying out the perspectives for a deeper corre ..read more

The wise approach to trading is to trade what you see and your mind to be in the "here and now". Often young traders drop out of that state because lack of experience and discipline and start to wonder, unwinding their imagination and starting to chase ghosts. That's why technical analysis can be deceiving and trick your mind to see something which is not true and in reality formed by the price movement. The ability to differ basic trading patterns and the "ghosts" comes with experience and looking at charts for a long enough time. As we know price is moving up and down and in this transition ..read more

In my previous post, I've mentioned that there is a correction coming for Twitter and that was catalyzed after the social platform banned Trump's account. Price has landed perfectly on the uptrend major support and formed yesterday a nicely looking pinbar. RIS has turned from oversold zone and if you are more aggressive current price is tempting enough to enter long. I would wait for the additional confirmation from MACD. My long-term target is $58 if bullish conditions are confirmed ..read more

It took some time for Boeing to break out of its bullish wedge, but the support held well, and we see some more stubborn attempts from buyers to push the price up. RSI is rising above 50, MACD has crossed over and the histogram is moving slowly towards positive territory. Earnings are after 7 days. so keep that in mind. An impulse above $216 will confirm the continuation of the bullish trend. My long term target is $250 ..read more

Today we saw the earnings report for Bank of America and it did not meet the investor's expectations. So far the earnings season (for the banks) starts a bit off. The EPS came above expectations at 0.59 versus 0.54 expected. Revenue though came in with a miss - 20.1B against 20.56B expected. The main cause for the miss cited is the COVID-19 pandemic. RSI is already crossing from overbought territory, though MACD's crossing is lagging. The histogram is showing a divergence with the price which is in line with RSI's early divergence with the price. My expectations are for a drop towards the tre ..read more

Holidays are over and it is time to get back into the markets, refreshed and with new strength. I am making another revision of Disney as the price on Friday closed at the internal trend support and played out the small bearish flag. Volumes were higher than Thursday as there were 12.23M shares traded against 8.951M shares on the day before Friday. The activity had increased before the weekends, but with that dip buying before the close, it looked more like long position covering. Now two options are on the table that will be crucial if confirmed by the price action. 1. Price dips inside the ..read more

GDX's downtrend has cast a shadow over gold's price and last week we saw a determined continuation of the downtrend for the Vaneck ETF. The ETF's price broke through the support with an average volume of 26.52M for Friday's trading session and buyers made no attempt to by the dip. We've closed with full-body under the support and below the $36 level. In the days before the drop on Friday, we saw some increase in volumes as some selling started to accumulate. RSI remains below the 50 ballast line and MACD has made a bearish crossover. The histogram is below 0. The perspectives for the ETF rema ..read more