SLOPolarBear

SLOPolarBear

I expect this pattern will take about (6) months to develop. There's a lot of denial going around these days, and I think that has contributed to numerous traders (say, half the country?) eager to put us back into that bullish ascending channel where we were up until Covid-19 arrived. The other half of us are gazing at these charts shaking our heads in disbelief;...

SLOPolarBear Updated 

That was a fun day. I suspect the market will pop up green tomorrow AM and re-test previous ATH's before jackknifing. Major support/resistance levels from 2-day chart (helps eliminate a lot of the noise). Short @ $357. First target, $335.

SLOPolarBear Updated 

ZM has been ranging for 12 days now. On Balance Volume, Volume-Weighted RSI, and price action holding above the point of control as we tiptoe to the edge of this wedge/pennant. Looking to open a position on breakout with big volume. Short term price target: $510. Would prefer to see price action teeter above this pattern and maintain accumulation for another...

SLOPolarBear

I chose the 4-hour chart for this pitch since it's a perfect blend of all of the time frames leading into next week. A handful of indicators show price divergence in the lower time frames: 1. Volume-weighted RSI 2. Increasing selling volume 3. Accumulation/Distribution Each of these indicators are fairly bullish AFTER the retracement, which is why I'm...

SLOPolarBear Updated 

Not exactly the cup and handle William O'Neill prescribes, but certainly worth consideration. The dimensions of the C & H are textbook, and the handle is shaping up just as you would expect -- prices narrowing into a tight consolidation pattern, scaring shorts out of their positions, slowly adding fuel to the uptrend that we saw today. The handle is also fairly...

SLOPolarBear Updated 

Nice little continuation pattern developing over the past 7 days. Impending breakout to the upside or downside before the end of the week. Low volume pullback this morning found support at $470 and has been incrementally rising as I write this. This supports the bullish rising wedge forming with the higher lows, confirmed by RSI and volume. Red line shows point of...

SLOPolarBear Updated 

The bulls returned today with a vengeance. Prices held above POC throughout the majority of todays trading session. Waiting until 15m to close to see if we get a massive end of the day dump (it is a Friday before a presidential debate, after all!), otherwise looking to close my present short. At these levels and volume, it seems likely we'll retest $525-530 highs....

SLOPolarBear Updated 

Short Term: Momentum dying 1) RSI divergence - As another user noted, RSI has been declining since September 1 high (88) to September 23 higher-high (76). 2) OBV - On-balance-volume is currently testing the $460-470 support, if we break thru, next line of support is $420. Hoping for a strong gap down tomorrow AM. Stepping back, a fixed range volume profile shows...

SLOPolarBear Updated 

Playing this one tight. $488 is my short term price target. Not expecting a massive breakdown similar to September 2-4. But I sleep better being short despite the bullish uptrend, scalping pullbacks when they're too good to pass up. Volume profiles have served me well with this particular stock. I'd honestly love to see this turkey fly to nosebleed valuations...

SLOPolarBear Updated 

Watching KO (Coca Cola) and PEP (Pepsi) for breakouts later this week. Value stocks haven't got a lot of love in the past 2 quarters, despite producing positive cash flows and looking healthy, despite the pandemic. Open a position at the bottom of the 2nd hour of the trading day when both of these stocks are typically trading at their daily low. If you only trade...

SLOPolarBear

I'm not shorting KO currently, but all indicators show this stock is going to re-test it's lower support line in the next few days. The market has been kind of sluggish this week. The buyers are all on vacation it seems. Would love to see a big fat red gap-down candle tomorrow that busts through the support line <$46.80. That would give . the stock a lot of spring...

SLOPolarBear Updated 

Okay, not a very good one. Nonetheless, will be watching Apple this week to see if it can stay above $440. Lots of volume following positive earnings, but it quickly fell off. The volume just isn't there in the head formation ($440-450). BUT, we may see an uptick this week and test previous resistance levels. Right now, I'm thinking the price will fall back into...

SLOPolarBear

The price breakout on July 29 caught my attention. I decided to wait a couple days to get some confirmation that the price would hold at the new level. Starting on Jul 31, I've been opening positions based on volume and price analysis at or below to 20-DAY EMA, closing positions based on BUYING volume falling below average. At any other time in history, I would be...

SLOPolarBear Updated 

NIO has been seen by critics and investors alike as a knock-off of Tesla. It's a Chinese company with access to huge market, and a lot of Chinese dollars have been betting on the success of this fundamentally flawed company. I love the bullish pennant forming on the daily/weekly charts. There's a few big red flags that scream market manipulation (check out the...

SLOPolarBear

Coca Cola has been in a long consolidation period since March. You can tell she has been aching to break out. The volume during this period combined with occasional price tests tells me the insiders are loading up on this stock. On the daily chart, we can see low volume price testing (that candle was much too big relative to the volume) on Jul 31 and again on Aug...