US Dollar Bear, How to Profit
Using technical analysis we review 4 charts and find ways to profit from a bearish US Dollar chart pattern, being Euro currency, Gold, and Gold shares using GDX ETF. Of course everything involves risk however this is strictly educational in natures and is not financial advice.
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BGFV has just come out of a 50% correction and now ready for the next bull move.
The stock is trading above both moving averages, the RSI is above 50, and the DI have crossed into the bullish zone. However it only has one analyst with a strong buy rating.
Lean Hogs have been in a 2 month consolidation after reaching multi year highs.
The DI's have crossed upwards, and the RSI has broken the trend line, the price is above both moving averages so everything is looking like a breakout to the upside.
Most traders would still wait for the price breakout of the triangle.
After a brief correction from recent highs the December contract for Coffee broke through short term resistance of 190.00 on Friday on good volume.
As shown by the moving averages and the upward sloping trend line coffee is in bull mode. The DI's and the RSI are confirming the move.
Will we get back up to the recent highs?
Billionaire Jeremy Grantham is our very special guest on today's episode. He is the co-founder and long-term investment strategist at GMO, one of the world's most well-respected asset management firms. Jeremy is an investing legend and studied market historian, who successfully identified and sidestepped the major corrections such as the Japanese market in 1989, the tech bubble of 2000, and the global financial crisis of 2008, and even called the bottom in 2009.
Is this finally the bottom that we have been waiting for?
4 analysts have it rated as a Strong Buy with one year price targets between $21-$30.
The ADX just turned down, the RSI just crossed above 50, and the the stock is now above the 50sma, so we now have an opportunity to get in early on a new bull move.
Ultimate longterm target could be just under $200. Will it happen?
NLST after a 5X jump in under a month the stock corrected into a triangle pattern. Notice how the ADX line called the top?
We appear to be at the decision point as to where the stock will breakout. The DI's and the RSI now at 49, are saying a break to the downside. Wait for confirmation.
TSM the world's largest chip maker has just bounced off of strong support, RSI is showing that is oversold, although other indicators are lagging. Could be a good risk reward trade with a tight stop.
5 analysts have it rated as a strong buy with one year price targets of $105-$149.
IYT shares broke the uptrend line from the March 2020 lows just a few weeks ago, with the ADX line falling off a cliff and confirming the move.
With the RSI below 50 and the stock trading below the 50sma it's not looking good short and intermediate term for the transports and therefor the rest of the market. Watch closely.
All indicators are bullish from here.
MJWL is a penny stock that went from a 100X advance to a big correction quickly. It may have finally found support at .08 where it had previous resistance/support, we also have the RSI down trend line was just broken, although it's still in bearish territory.
The downtrend line on the stock has still not been broken, all other indicators in bearish mode.
We could be in the early stages of a bounce off of support, but we have to wait and see if it's a long term trend change.
BTBT jumped 5X and has now pulled back the full 62% fibonacci retracement. We have a green candle today and the RSI bounced off of 50, so the question is, will this be the bottom before the next big up move?
AMC looks like it has finally bottomed. Between July 19 and August 5 it formed a bullish divergence with the RSI, warning of a bottom. The stock found support at $29 and bounced up with the 10 sma moving higher. Today the DI's have crossed into bullish zone, same with the RSI, all on good volume.
NSC stock just broke through the down trend line signalling the end to the intermediate correction, all indicators are go. Support for the stock is around $252.
From it's May bottom at $14.64 FUBO more than doubled to $35 before pulling back. This recent correction shows a Fibonacci retracement of about 50%, if this new bull continues the next target is $45 which would be almost a 50% advance. Today's close wasn't great so a minor pullback to fill the gap is possible. All indicators shown are bullish.
FUBO has 8 analysts covering the stock of which 6 have it rated as a "strong buy" with one year target ratings from $28-$60.
After Tuesdays close FuboTV Inc. (FUBO) came out with a quarterly loss of $0.38 per share
versus the Zacks Consensus Estimate of a loss of $0.54. This compares to
loss of $2.82 per share a year ago. These figures are adjusted for
non-recurring items. Is this a new trend for future earnings?
AFRM is looking like it has finally bottomed after a 60%+ fall from recent highs. Once it breaks the resistance at $70, the first stop will be $80 and then possibly new highs. All indicators: RSI, moving averages and DI's are bullish. A total of 9 analysts are following the stop of which 5 have it rated as a "strong buy", one year price targets are between $55-$102. Technically a good risk/reward ratio play.
Penny Stock Report Bullish Chart Patterns
Penny Stocks ASTI, DMGGF, FTFT, HSSHF, RGBP, RSHN, WPRT
Trading Penny Stocks For Profit
Everything that was discussed is educational and should not be viewed as financial advice.
Discussion was about stock chart patterns on penny stocks using technical analysis.
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Today we go looking for trading opportunities in commodities using profitable chart patterns with technical analysis.
We check out the charts for the US Dollar Index, Corn Canola, Oats, Lean Hogs, Lumber.
How did the indicators do in the past? Could we have made money trading?
How much money could we have made trading?
6 charts to put on your watch list.
These are the 20 most shorted stocks as a percentage of the float. Most of them have a good reason for the high short interest, but are there any that are overdone and provide investors and traders with a buying opportunity?
