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AAPL's Overbought Indicators Hint at Possible CorrectionCurrently, Apple Inc. (AAPL) shares are presenting intriguing signals for discerning investors. Two key technical indicators, Stochastic RSI and MACD, provide indications that AAPL may have reached a point of overbought conditions. Stochastic RSI, serving as a measure of market saturation, highlights AAPL's overbought condition, suggesting that the price has likely reached a level prone to correction or decline. Furthermore, MACD shows negative divergence, indicating the potential weakening of the upward momentum in prices. It is essential to direct attention to the Support and Resistance level (SNR) around 182.34. This level not only boasts a strong history as a previous resistance level but may also play a significant role as a support level. However, it is crucial to bear in mind that trading always involves risk, and trading decisions should be based on comprehensive analysis and well-calculated risk assessments.
NASDAQ:AAPLShort
by fardycurry
short idea $KLIC, United States, Nasdaq, Producer ManufacturingShort entry stop limit order at $45.2 with hard stop loss at $49.35 The industry is setting up for both longs and shorts with a few names setting up short on the weekly timeframe at spots where I like taking shorts. If this one works, I will be adding another couple of names that are setting up. I will update with first profit target as the trade develops, if my stop limit at $45.2 get hit. Happy trading fellow traders. I am momentumftw, trader of international equities
NASDAQ:KLICShort
by momentumftw
Short Trade Idea: Wipro (WIT)The share price of Wipro (WIT) has declined by around 6.88% in the past month. This short trade idea focuses on selling the asset, based on the following strategy: 12-day exponential moving average (EMA) below 26-day EMA: This strategy seeks out assets where the 12-day EMA is below the 26-day EMA. This indicates a potential bearish trend and suggests that the price may continue to decline in the near term. Significant support levels: The asset should also have significant support levels that can serve as profit targets. These support levels act as price levels where buying interest is expected to outweigh selling pressure, potentially causing the price to bounce back. By selling the asset, traders can aim to profit from the expected downward movement in the share price. However, it's important to note that this strategy carries a somewhat high risk tolerance and is suitable for a short investment horizon. Please note that this trade idea is based on the provided facts and does not take into account any additional information or analysis. Traders should conduct their own research and analysis before making any investment decisions. Technical Outlook Technical Analysis: Wipro Approaching Key Support at $4.5 Wipro's stock (WIT) is currently approaching a key support level, just 10 cents away from 4.5. The stock's price action is crucial at this level, as dropping below it could indicate further losses ahead. On the other hand, a failure to break below 4.5 could be viewed positively by market bulls, potentially leading to a retracement. Yesterday, Wipro's stock formed a "Bearish Harami" chart pattern, signaling impending bearish sentiment. This, combined with the ongoing downtrend, suggests that the stock's downward movement is likely to continue. In the past 5 days, Wipro has appreciated by 1.32%. The stock is currently trading with a market cap of $23.99 billion. Yesterday, there were 960,788 shares traded, which is below the average of 1.73 million shares. Wipro's immediate support level is around 4.57, while its resistance level is at 4.62. These levels will be important to watch as the stock's price action unfolds. In comparison to other themed assets, Texas Instruments closed yesterday with a 1.82% drop, Apple saw a rise to 179.23 from 176.65, and Microsoft was up 1.06%. Overall, Wipro's stock is at a critical juncture, and its ability to hold above or break below the $4.5 support level will be key in determining its future direction.
NYSE:WITShort
by NomolosAI
JSW Steel : Rusting Begins?- JSW Steel looks ready for a short-term downturn phase - Look how the PE ratio has shot up crazy from the last time we saw the same price ( Price is not justified) - With the current selloff, The bulls are trapped at ATH making them long-term investors. - We do have a trendline that may give support when the time comes. But until then, It's time to bleed? What are your thoughts? Leave us a boost👍👍👍. Disclaimer: Please note that we are not registered advisors and the views expressed here are solely personal opinions. We strongly recommend consulting with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
NSE:JSWSTEELShort
by TheChartereds
2
TECHNICAL ANALYSIS VIEW OF BITCOIN 6/11: WAITING FOR THE FALL!Hello traders! In the past 2 weeks, Bitcoin price tried to test the 36000 price range and accumulated in the 33000 to 36000 range until now. Last weekend we also witnessed the action of whales transferring a large amount of Bitcoin to the exchange, which signals that there will be large price fluctuations in the coming weeks, most likely a profit-taking action by traders. big. Next week we also look forward to the speech of Fed Chairman Powell and other members. Most likely, combining the above two events, Bitcoin price will adjust sharply to have notable price actions before entering the last month of the year. Let's come to some technical analysis comments according to Wyckoff on the BTCUSDT pair on November 6: Timeframe H1 (BTCUSDT pair chart on Binance): Figure 1: Now is the time to wait for Bitcoin's collapse (source: Tradingview) Events that took place during the distribution phase: - Price has completed forming phases A, B, C and is in phase D of the distribution phase according to the Wyckoff model. - In phase D, the price retested the upper edge of the trading range with 2 LPSY events. Prices increased but volume decreased, demonstrating the weakness of demand. Now, as long as the big guys or the bears are determined to step down, the price will drop sharply. - Possible plan: continue to sell more immediately after the price tests the upper boundary of the trading range or create new LPSYs. Wait for the price to break the lower boundary of the trading range to create the final SOW in phase D, then you can completely close out the position and pull the stop loss of the remaining positions to the entry point, while preserving the positions. Just continue to wait for the following declines to take more profits. Safe trading! @dvd
Short
by dvdtraderhihi
TRBUSDT ------> SHORT (40%)Hi Everyone All I have available is the price chart and that's all I need. And what I see on the chart is an unconfirmed ( yet unconfirmed ) DOUBLE TOP pattern. For BINANCE:TRBUSDT As the momentum decreases and the price ceilings approach each other, and the price approaches the ceiling of the ascending channel , Considering the dominance chart of Tether, Bitcoin and Ethereum , for me a general correction in the market and especially in this chart is predictable . Targets in the order of probability and time $100 $85 $75 and I consider a possible stop loss around the price of $130 .
Short
by thegreatoneinthemetaverse
That time of year again! | SeptemberIf you look at the stock market as a game, each month has different odds for success, the best odds are in December when you have a 77% chance of making money and having a positive return. The odds are in your favor in most of the other months, except September when there’s only a 50/50 chance of profiting in the stock market. It’s September again so any number of articles will remind us that September has been the worst month for US stock markets. September leaps off the page as being the only month with an average negative return, and the magnitude of average loss is serious at -0.8%. September has been the worst performing month because first It has the lowest average return. The average loss in September has been -0,8%, due in part to the fact that the worst month ever happened in a September. A 29.7% loss in September 1931 is the worst monthly loss ever. All of the other 11 months have positive average returns and second 49 of the past 97 Septembers – 51% have suffered losses, contrasted to the other months that have had positive returns 64% of the time. Gold and International Stocks are the best performing asset classes in September with a .48% average return, which is half the average monthly return on the S&P500. Gold has delivered positive returns in September 84% of the time. The best month for gold is January, and the worst is March. International Stocks have delivered positive returns 69% of the time. December is the best month for this asset class and April is the worst month. Preferred stocks have the worst September performance, losing -0.91% on average. These stocks win only 48% of the time, so not a good bet plus September is the worst month in history of bitcoin and crypto market as well Remember trend is your friend so if you got 100X degen long leverage you should be ready for some margin call which stock or crypto you shorting now?
SP:SPXShort
by moonypto
2
I am shorting Bitcoin here.Traders, After some long and deliberate thought, I have decided to re-introduce shorts to my channel. This area is simply too tempting not to short. Previously, you will know, that I decided to only do longs, non-leveraged, crypto-only trades. There was reason for each. But I realize that I am boxing myself in tremendously by doing so. I will probably not be frequent in my short trades, but I do think it is wise to trade short at times ...this area being one instance. Also, I have often toyed with the idea of adding more than just crypto TA to my channel. This option is still definitely on the table. And though I am wary of leveraged trades (less than 10% of traders are profitable as it is, let alone trading leveraged), I may infrequently introduce a leveraged play. For the time being, I really like the odds on a short play here on BTC. We have multiple major levels of resistance all intersecting at around the same area, forming a huge area of confluence that is now acting as resistance. Additionally, the RSI is insanely overbought. And as of now, there are 8 green daily candles in a row! I am shorting this thing to 31,600, our strong support, with a SL of 36k which equals at 2/1 rr. Remember, this is not fin advice. This is all entertainment for your pleasure only. Best, Stew
INDEX:BTCUSDShort
by stewdamus
EURUSD 24.10.2023The EUR/USD currency pair, representing the relationship between the Euro and the US Dollar, is currently facing a bearish trend. This is a result of a combination of factors from both the Eurozone and the US, as well as broader global economic indicators. Here's a breakdown of some key points supporting the bearish outlook: Strong US Economy: The US has been showing signs of robust economic growth with positive job numbers, rising consumer confidence, and a favorable business environment. This has given the US Federal Reserve the confidence to hint at or even implement monetary tightening, which is supportive for the USD. European Uncertainties: Political and economic uncertainties in some of the Eurozone's member countries have weighed on the Euro. Disagreements on fiscal policies, banking sector vulnerabilities, and political unrest in some nations have dented investor confidence. Divergent Monetary Policies: While the US Federal Reserve has been on a tightening path, the European Central Bank (ECB) has been more cautious due to subdued inflation and slower economic growth in the Eurozone. This divergence in monetary policy makes the US Dollar more attractive relative to the Euro. Trade Tensions: Global trade tensions, especially between the US and its major trading partners, can lead to increased demand for the US Dollar as a safe-haven currency, putting downward pressure on the EUR/USD pair. Debt Concerns in Europe: Some countries within the Eurozone are grappling with high levels of public debt. This raises concerns about the overall stability of the Eurozone and thereby affects the strength of the Euro. Technical Indicators: From a technical analysis perspective, various indicators and chart patterns might be pointing towards a bearish sentiment for EUR/USD. This includes factors like moving averages, relative strength indices, and other technical patterns that traders often rely upon. Geopolitical Concerns: Geopolitical tensions within Europe, or between Europe and other nations, can also play a role in creating a bearish environment for the EUR/USD pair.
by mazayafx