Thank you @Onepoint272 for the SPWR call!! I bought some calls Monday morning, then bought the stock this morning when it gapped higher. Looking to hold this baby for a while! I appreciate all the posts in this thread, they are very educational!
It's the perfect example of why Wyckoff believed what he did and why when you enter these kinds of setups, you shouldn't worry about earnings reports.
I agree but have been burnt by many instances of UTAD where earning reports acted as a catalyst. NIO comes to mind where it looked like a perfect setup (even though on a much shorter time scale) prior to earnings and then all hell broke loose.
$TWTR PnF measurement 30.50 + (19 x 0.75 x 3) = $73.25 Appears to be a re-accumulation phase after digesting that giant run to $48 last year Could also be considered a larger BUC
It's a salient point, as nothing is guaranteed and why we set our stop loss below the established creek. I've noticed that if there's a flush below the established trading range (i.e. Terminal Shakeout) before the upside begins - it's not likely you're going to get a UTAD. That would be entirely duplicitous to have both when you really think about it. Why would the CM spend all that time establishing a range, then take it lower one last time to panic weak longs out of their shares (in an attempt to control the float) if all they're gonna do is sell on the first breakout from the creek? Now I say that with one caveat - if it's a monster widespread move above the creek, well then yes I'd be concerned. $NIO didn't showcase a terminal shakeout. Back in February the gap up from the 7's up into the 10's was on the single largest weekly volume flow the stock had ever seen at around 277 million and it wasn't even close. I haven't looked it up, but I'm curious as to what the float was before that because at first glance it looks like stock dilution to me or some kind of financing. The IPO was 160 million shares and the float right now is already 714 million.
Yesterday afternoon the S&P futures showed some weakness in the right hand side of the TR. With an uptrend in the background, that is what the bears needed (a Sign Of Weakness) to potentially reverse the trend. Last night and this morning pre-market, prices sprung back into the range getting stopped at the brand new monthly pivot (light-blue line) for August. Ideally the bullish scenario, of this being a shakeout, needs to see some strength out of the danger zone. 4-hour bars, Thursday, August 1st, pre-market ~ 6:40 am CDT
Still waiting to re-buy the silver miner, AG. The futures are hovering around the new August traditional pivot. 1-hour bars:
Good luck to all of you who are embracing @Onepoint272's SPWR trade. Hoping you all do extremely well. I almost pulled the trigger on it too but by the time I saw his recommendation for the most perfect setup, it was already up like 10-15% if my memory is right. Like @Rock Sexton, I hate getting in late and prefer a good entry... Oh well, lesson learned. Trust those who are better at this than I am.
Palladium looks to be approaching a low supply zone on the 4H chart. The past 2 times price gets to the low volume pocket, it’s seen a nice rebound.
Noticed you're overlaying the volume profile which you know I love to do in conjunction with my Wyckoff stuff LOL. Allow me to make a quick suggestion - obviously you can overlay it over any point in time, but you're better served looking at it in terms of a previous time frame vs. current. For example - when you start a new week you should be referencing last week's profile, but as you get closer to the end of week then you want to be more mindful of how the current week's is developing. Make sense? This is key because just overlaying it over any arbitrary time frame won't give you clean perspective of how the auction went for that stock.
$EGOV Rocketship. Currently up 23% today with a high of $22.45. I backed the chart out a little bit to a long term monthly and it appears as though this is the first ascent after a terminal shakeout (TS) They beat on earnings $0.21 EPS and $91.6 million revs vs. estimated $0.18 EPS and $85.6 million revs Upgraded by DA Davidson to $21
By the way my $ATUS got two upgrades this morning. If you guys can recall @Onepoint272 and myself had a PnF measurement somewhere around $38-$39. It hit a high today of $27.74 on this news. Pivotal - buy rating reiterated with a PT of $40 Nomura - buy rating reiterated with a PT of $35
$FMC got two upgrades this morning. Current price $87.26. Nomura - buy rating reiterated with a PT raised from $93 to $100 Credit Suisse - price target raised from $97 to $102.00
