Hi. I was looking at some US stock charts as usual. Crypto is sad. Try not to despair (if any of you guys are deep in the deep) and stay hopeful. I've stopped allocating to crypto some weeks ago. Started to lock-in some tech-related stocks, in addition to current portfolio of S-reits.
Conversely, my specialty has always been trading short-term. I feel like I need to build nest(s) so. Here goes nothing:
1. Do keep in mind these are weekly candlestick charts.
2. Apologies that the text at top left corner are blur and my intention is to focus on candlesticks.
3. Blue line: 50 moving avg (popular line, imo); Green line: 20 moving avg.
Tesla:
Optimistic - may go upwards short-term. To be safe, just one nice green one and must take profit before it tops out. In my opinion, it is also a good time to take a small position and keep the share(s) for the long-term (1-3 years).
Key reason: it has a very nice looking bounce from the 50MA + overall looks of the chart, and of coz it is a great stock imo. Ps. Do your own due diligence, please.
Nvidia:
No Idea - This is a 50-50 up or down in the next 2 weeks. I don't think it might do the long 'consolidation'. Not touching it.
Google (Alphabet):
Not looking fine - stock price might go down abit before bouncing anytime, sharply (conjecture).
Key reason: based on bungee jumping distance to the 50MA + it may bounce at 20MA which coincidentally lines at a horizontal support.
'Verdict': Good to keep an eye on this chart.
Needless to say: Anything can happen eg news that brings forth knee-jerk or permanent reaction. If you are trading, stop-loss is a must, especially for hard earned money and for the sake of responsibility.
I hope the above notes are an easy read and interesting enough. I'll probably do a comparison 1-2 weeks down the road. Have a nice remainder of the week :)
