Stocks and triangle patterns

Stocks and triangle patterns

Moderna: rise again to $180?

Modernas weak financial performance made the stock price tumble recently. Yet, we have the zone above $180 as an important strategic resistance that has already sent the price downwards three times since the end of 2020. Currently, the price is supported by the 50-MA and 100-MA. A very likely scenario is that the price dips below them first - that would mean it goes under $145. After that, if bulls press on, $180 may be reached again. Will it be eventually crossed? Very possibly. First, lets watch if the price makes a U-turn around $145.

Recommendation: watch the price movement around $145 and 50-MA/100-MA; if an upward reversal confirms formation, buy at $150 and hold to sell at $180.

Stocks and triangle patterns

Activision Blizzard: things not going good?

Trading under $94, the stock price is at the crossroad - which is visible with the crossing MAs. Above all, it means its quite unstable. But if the triangle formation proves to be correct, the stock price will likely plunge to $88 and possibly much lower than that before it starts making a new long-term uptrend.

Recommendation: if short-term timeframes show local bearish formations, that may be a beginning of a local downtrend - sell above $92 to buy at $88.

Stocks and triangle patterns

Remember you can trade stocks in Forex Trader!

Apple: a strong long-term outlook

Business-wise, Apple has good prospects, both in the long-term and mid-term. What its going throw now is possibly a local drop that may turn out to be a sideways period. However, it already confirmed that zone $137-145 is a resistance channel that was entered several times before - the stock will return to do the same. Therefore, holding may be rewarded by an uptrend that finally breaks $145. That may be long holding, though - prepare for position trading here.

Recommendation: wait for the stock to start reversing - it may happen at the support of $116 - once the reversal is confirmed, buy and hold to sell ta $145.

Stocks and triangle patterns

Tesla: more falling?

$550-600 is definitely a formidable support zone. The stock price is right in that zone now. The first scenario is that this zone sends the price back up again - the possible target for bulls would be at $770. If there is no bounce upwards, then you may expect it to go all the way down to $400. Teslas outlook has enough dark spots to back a plunge this deep.

Recommendation: watch if the stock resurges to the upside from the support channel $550-600. If 200-MA and $550 get crossed downwards, sell at $540 to buy around $450.

Stocks and triangle patterns

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