Watching if NFLX breaks out of this range 340-380. 200ma has been support at the bottom of the range. 380 has been the resistance for the last 3 quarters. Next ER July 17.
Picked up some shares of AMT this week Weekly sticks show ~30% upside based on the cause built in the 2018 range... the recent pull back was on expanding volume, which isnt a good sign, but the daily chart is showing a 3rd bounce off the 50ma... also the decline is most likely sector oriented, as REITS have run up high and just recently fallen out of favor Fundamemtal wise, the cell phone tower company could be a "picks & shovels" type play on the 5g hype.. that is if it doesnt melt our brains first
I'm still flat until I see a confirmation of the major market that we are going up. I have waiting too long to get caught in chop here. Once the pullback to support and an new breakout above 3000 I'm in with all guns blazing.
ISRG ran from 150 to 550 in 3 years, now double-topped and reporting this week. On Thursday, the operating chief stepped down effective eoy.
I'm still paper trading, haven't yet gotten my feet wet, but tempted, I like both of the following for gains, constructive criticism is welcome.
I would suggest turning your volume "on". There are only 2 data elements to a chart, price and volume. All other indicators are based off of these. How price and volume inter-relate is important for judging supply and demand and effort versus result, particularly at the edges (support and resistance). I like ALLY. I did a little point and figure work using daily data with a 50-cent-box and a 3-box reversal and got a count that projects a target to $39. Then I used 65-minute data with a 10-cent-box and 3-box-reversal (shown below) and got a base count to nearly the same, $38.70. However the stepping-stone count only projects to $33. So it may rest at $33 before proceeding to $39. That $33 also agrees with an ABCD-up measured move. Where the CD leg = 1 x AB leg is at a target of $33. The other purple number, 1.272, 1.618, 2, are Fibonacci extensions, e.g., CD = 1.272 x AB. You can gage how far it might extend based on comparing the volume at the B point with the volume when it breaks above the B point (on a regular vertical bar or candlestick chart). In this case it appears the volume was lighter on the break, therefore the rule would say it is not likely to extend beyond 1 to 1 ($33) on this move without resting. 10-cent-box by 3-box-reversal P&F with 65-minute data:
I was mistaken, the daily volume of the break above the B point was about the same as at the B point. Still shouldn't expect much more than 33 on this rally. Daily bars:
ALLY: I was thinking entry should be at 31.68 or there abouts, then gain a little, then price tightening for 8-10 days and then up again? I'm paper trading so I'm recording my entries and exits to gauge the accuracy of my analysis. I could pass on the first entry and get in after a flat base has developed, if that happens. Once in I would stay in as long as the price stays above MA10. I should ad that at the moment I do not subscribe to a chart service and each of the free ones have limitations on how many indicators may be employed at any one time, to this end I use several different platforms. For instance, at Yahoo I have volume and aroon and RSI, and at Swingbot I have MACD and directional indicators and PSAR. So I switch back and forth for comparison. Is there a service that is reasonably price that would allow 5-10 indicators on a single chart?
tradingview.com is free You can put 5 indicators on one chart, save that as a template then make another template with the other 5 indicators. So you can't put all the indicators on one free chart, but you can save a few templates.
I'll probably buy the $13 sub from Tradingview and set it up as you opined, it seems to be the best value.
I use Tradingview, obviously, for my after-trading hours work. The real-time intraday data is not that great though, unless you stick to the very liquid stocks or unless you also buy a subscription to a data package. When I need good intraday data to execute a trade, I use the TD Ameritrade-Think or Swim platform on my phone. It has a great assortment of unlimited indicators but all I use is price and volume. Although indicators are great for scanning, I think you will eventually discover that they lag price since all indicators are based on price and/or volume. Once I learned to read price and volume action, I found that the indicators introduced too much noise for me and analysis paralysis.
