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Oversold

ROKU is pulled back for re-entryROKU has been downtrending in a retracement of the uptrend from late May to mid June. On the 2H chart, price has fallen from the top of the fair value zone the bottom of the fair value zone. The zone is the area between the VWAP bands of the anchored VWAP. Institutional buyers prefer to buy in either the under valued zone or the lower portions of the fair value zone and then in turn sell high in that zone or above it in the over valued zone. The RSI indicator shows RSI to have descended into the oversold zone where RSI is about 20. On the volume profile price has descended into the high volume area where increased trading volume will support price and likely push a reversal.
NASDAQ:ROKU
by AwesomeAvani
1
TSLA: Is it Oversold?TSLA shares have lost their most important support level, around $230, and we are getting close to our next support, around $206, and such a move was detailed in our last public analysis, the link to which is below this post, as always. As we can see, TSLA shares have consistently failed to react around their support levels, showing great weakness, and so far, we don't see any reaction that would justify a recovery, or that could trigger a bullish move. The RSI is at low levels, below the 30% line, while it lost the 50 and the 200-period moving averages – however, there is no Death Cross yet. What’s more, TSLA has been dropping, losing all of its support levels, without any sign of struggle. A typical crash. It's a fact that the stock is well discounted, in oversold territory. Whether this is a reason for a bullish reaction is anyone's guess. The next big catalyst will be next week's results release. S ince we're approaching a critical support zone, and with the sell-off theoretically exhausted, this could be a promising turning point. Another important question is for how long will TSLA remain detached from the broad market? The indices are clearly bullish, and they have been for a while. Tech stocks are performing well, and the M7 are looking great compared to TSLA. It all depends on how TSLA is going to react now that it is close to the $206 support. Remember, always wait for confimation on the price. Any bullish reaction could trigger a short-term bounce to higher levels, the problem is that the mid-term trend is bearish, and it would be important to se TSLA breaking the 21 ema on the daily chart, along with the $230 resistance, to reverse this bearish sentiment. Only then, I’ll see a technical reason that could convince me of a better recovery – otherwise, we may see just a Dead Cat Bounce. I’ll keep you updated on this, so remember to follow me for more analysis like this. All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
6
Lucid Motors Liquidity GapIt would appear that LUCID GROUP is facing a sell off based on bad new, dilution of shares, lack of consumer demand. However, based on technical, it would appear to be a very aggressive sell-off it was a sell-off. Not beneficial to not allow for market to recover in regards to liquidity. Based on the aggressive downside moves, the probability of a cat bounce appears very high and I am honestly amazed at the open interest on puts that could look to be burnt. 3$ options expiring this week are trading at $.08 a contract at the moment and if there is any level of volatility to the bull side, the out of the money 3$ strike will flip into the money and dominoing into an extreme level of gamma exposure on the short side. People shorting need to close their position at some point, like also contributing to the large put open interest which could be contracts shorted with shorted equity.
NASDAQ:LCIDLong
by kibakilla33
2
Where is the bottom for soybeans? Soybean futures are off to a rough start in 2024. In the first week of trading, March soybeans were down nearly 42 cents on the back of beneficial rains sweeping Central Brazil. Selling pressure permeated into Monday’s session as well, with soybeans trading down into the mid 1230’s. So, the question now becomes, will March soybeans make new contract lows? Fundamental Snapshot : Monday’s lower price action is not all that surprising considering U.S. export inspections for soybeans were reported at 675k metric tons - below average trade estimates. Meanwhile, Brazil has been exporting both corn and soybeans at record paces each of the past two years, and is expected to have a record or near-record soybean crop this year as well. Wednesday, CONAB will release data pertaining to their estimations of corn and soybeans. Currently, they are less optimistic about the state of the Brazilian soybean crop than the USDA, and USDA will release their World Agricultural Supply and Demand Expectations report on Friday. If we see sweeping downward adjustments to production estimates from both CONAB and USDA, it may help soybeans find a bottom. However, if the market is disappointed in the data released this week, we may see soybeans test 1200 sooner rather than later. Technical Outlook : After last week’s precipitous drop, it was surprising that March beans failed to enter oversold territory. However, it did not take long to break into OS territory on Monday’s session. The head-and-shoulders pattern that’s developed over the past fiscal quarter has a difference of approximately $1.20/bu, which puts an operative price target between 1198 and 1208. That also happens to be the 78.6% retracement level between the mid-June lows and late-July highs. Markets can stay in overbought/oversold territory for extended periods of time, so if data disappoints this week, we may see the head-and-shoulders reach its price target. However, a positive reception to fundamental data this week may serve as a launching pad for soybeans to start moving higher. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSH2024
by Blue_Line_Futures
DISH Network Macro technical developments point to BuyHi guys! So this is a look into DISH Network (DISH) technical analysis. This analysis is done on the 1 Month timeframe, thus depicting the Macro price action of DISH. This analysis does not express the shorter term or intermediate term trend but looks to assess the Long term trend. The findings in this idea also support a buy and hold strategy for DISH. Do note that because of that it is possible for shorter term or intermediate term pullbacks. I will do my best to post updates on shorter timeframes to help assess better buy areas. But anyway lets jump right in. As you can see from the Highs of Dec. 2014, we've been in a continual price decline. Depicted by "Major Resistance trendline", that has helped propel the downtrend. We reached major Support Zone, to only break through and continue our downtrend. Till we reached our Downtrend target zone. Here i was aspecting more downside, where price action would have traveled inside this zone. This month however we have had a 45%+ bounce Up. Currently in the process of creating a BULLISH ENGULFING CANDLE. It being on the 1 Month, makes it very Powerful. Note though: This months candle closes Dec. 31st. So nothing has confirmed yet. But if on Jan 1st, we are still looking like this. This ENGULFING candle may indicate a macro trend change. We have also from last months and this months candle, confirmed a Sloping Support trendline. This showcases the Uptrend and a Higher low on the Macro scale. Notice also the 21 EMA (Purple moving average). This will continue to come down BUT it can be used as a target for where price will move to. We've also havent touched it since 2021. So probabilities dictate we will eventually touch it. So keep that in mind. A likely target if this uptrend continues is the $9.00 level. That would be a critical area since breaking above will mean continued bullishness but a rejection could mean that there maybe a probability that we go lower, possibly into the DOwntrend target zone.
DLong
by SafofAllTrades
GBPNZD - Getting OverSold!Hello TradingView Family / Fellow Traders, 📈 GBPNZD has been overall bearish, trading inside the falling channel in red and it is currently approaching the lower red trendline. Moreover, the zone 1.985 is a robust demand zone. 🎯 Therefore , the highlighted red circle represents a significant area to consider for potential buy setups, as it marks the intersection of the blue demand and lower red trendline. 📚 As per my trading style: As GBPNZD approaches the red circle zone, I will be actively searching for bullish reversal setups to capture the next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
EURNZD - Wait For The Bulls ↗️Hello TradingView Family / Fellow Traders, 📈 EURNZD has been overall bearish, trading inside the falling channel in red and it is currently approaching the lower red trendline. Moreover, the zone 1.73 is a robust support level. 🎯 Therefore , the highlighted red circle represents a significant area to consider for potential buy setups, as it marks the intersection of the blue support and lower red trendline. 📚 As per my trading style: As EURNZD approaches the red circle zone, I will be actively searching for bullish reversal setups to capture the next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
2
Bitcoin(BTC): First Weakness In 60 Days = Liquidity Hunt StartsThird Week: We are seeing a nice rejection happening near the $44,500 zone, where the last weekly candle closed with nice and good dominance from bears. With that being said, we are seeing the first weakness kick in since October 16th (2 months of straight green candles). Now that the first weak link has accrued, we are seeing a nice start of downward movement, which can easily reclaim a lot of FVG zones on the lower timeframes, where also the majority of liquidity is! The start is nice, so let's see if we can keep it up from this point!
BITSTAMP:BTCUSDShort
by SwallowAcademy
1
EURAUD - Wait For It ⏱Hello TradingView Family / Fellow Traders, 📈 EURAUD has been overall bearish , trading inside the falling channel in red and it is currently approaching the lower red trendline. Moreover, the zone 1.6 is a robust support level. 🎯 Therefore , the highlighted red circle represents a significant area to consider for potential buy setups, as it marks the intersection of the green support and lower red trendline. 📚 As per my trading style: As EURAUD approaches the red circle zone, I will be actively searching for bullish reversal setups to capture the next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
1
USDCAD Trendline Break PullbackHi Traders! USDCAD has come a long way down since the 3-month trendline break, and there is a possibility that the pair is oversold. Here are the details: After the trendline break, the market had an aggressive push down and has looked to have consolidated around the 1.33498 level, which is now the support area. If there is a hold above here, the market is likely to pullback upwards. Preferred Direction: Buy Entry Level: 1.33900 Stop Level: 1.33410 Target Level: 1.34879 Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
5
🔄 Ethereum (ETH) Analysis: Oversold Conditions,Potential RetestAn analysis of Ethereum (ETH) highlights oversold conditions, potential retest, and resistance levels, providing insights for market participants. Key Observations: Current Price: Ethereum is noted to be trading at around $2,290 and is considered oversold on the daily timeframe. Potential Retest: The analysis suggests that the price could be on its way to test the $2,400 - $2,500 area of resistance once again. Resistance Levels: This is the same area where the price faced rejection last week, indicating a key resistance zone. #Ethereum #CryptoAnalysis #OversoldConditions
Long
by Richtv_official
1
Ripple(XRP): Multiple Selloffs = Soon Drop?We've observed significant sell-offs, characterised by long wicks, which indicate selling pressure. The market appears to be bouncing, forming a series of broken zones, yet no significant movement to lower zones has happened! As we navigate through this choppy terrain, we're keeping a close watch on the intersection of the Bollinger Bands' middle line and the major support trendline. A decisive break below this confluence has intensified selling momentum, pushing prices towards the lower Bollinger Band or beyond. Our gameplan is to wait for some sort of re-test in the upper zones (closer back to the middle line of Bollinger bands). Once we are near that zone, we are going to look for a potential further downward movement, and we will catch it as well if we can.
Short
by SwallowAcademy