hey hey good day welcome to the stocks with Josh show well the markets almost went green today before puttering out in the last hour today is technical Tuesday and we're going to do a thorough dive on some of your favorite stocks but we're going to start off by talking about some crypto and most of crypto is in the neutral or gray area today except for three outliers I like to look at the outliers because when the Market's not doing great and you see a couple stocks doing great it means they might move faster and better than the rest of them when the market picks back up again we saw that xrp and Doge and shib were today's outliers in crypto I also want to cover some interesting articles on the MooMoo app they do not charge for their news as a subscription service but in my opinion it is comparable to many subscription news Services the first article is pro Traders are working the stock options Market this is very important I talked with you guys about this last week that Pro Traders were betting on the market to go down they had a record amount of puts purchased 10 billion dollars in puts expecting a sudden and violent move to the downside could that potentially be triggered by this CPI report that we have a couple days away from us I want to talk with you guys a little bit about volatility we can see the volatility index in the vix or even the uvxy and it is at its highest levels since June now a lot of people consider that when volatility gets to this level that it is signaling a potential buy and go long scenario but what we have to consider is that we're in a volatile environment which means that in the next week or two we might see a move that is so violent that it would trigger buying by itself it doesn't mean enter it just means that very very soon there's going to be a great opportunity for people to enter into stocks long and get a great price for them that in my opinion is what the smart money is doing with those 10 billion dollars in puts they're expect acting a violent move down where as I've said to you guys the analogy other people are going to get tossed out of their seats and they're going to jump into those seats moving forward the second article was by the IMF the international monetary fund this is a group of people that look at the economies of the Nations they take a global view of all the economies in the world now what they said was that they are revising down their 2023 World growth estimate and they cited the reason persistent Global inflation and so this is actually bad news it means that globally all the citizens of the world are going to be less productive make less money and make less products okay and so you'd say well this is terrible news Josh but remember what I said to you guys in yesterday's video in some cases bad news is going to be good news and this is actually bad news that's good news they specifically said that the 2022 GDP will likely remain unchanged there they've called for a 3.2 percent growth in 2022 which means that for the remainder of this year they're expecting that things are going to continue to be strong but they're citing that 2023 is the problem and they've adjusted that down from 2.9 percent growth which is already lower than the growth expected this year so they're going from 2.9 to 2.7 so they're telling everybody that this economy is absolutely going to be slowing down they also said that there is an additional 25 percent chance that their numbers are wrong and that the GDP could drop below 2 percent and here is a quote from the IMF they've said as economies slow down calls for a pivot toward looser monetary conditions will inevitably become louder so this is what they're saying that there is going to be a global outcry for looser monetary conditions and for easing up and for pivoting so I think that what they're saying is they're sending a message to Mr Powell that you need to get ready you can keep hiking as long as you want in 2022 because your economy is strong but in 2023 you better get ready to fire up the old cash printing machines and you better get ready to start easing because we are going to be in a recession in 2023 and we don't need tight monetary policy and here's the thing that's good for stocks the recession is basically inflation solved by itself and that is going to return to a positive momentum for stocks and here's the problem that Mr Powell has he's behind the eight ball he is late to the game and now he has to do catch-up and my I've said it before in my last conversation about him that he has to out Hawk the Hawks he's trying to rewrite his legacy at this point he did not raise fast enough he called it transitory when it wasn't transitory he gave a 10-point basis point rate hike when we were already seeing out of control inflation a year ago and now he has to do what he can do in the remaining months of this year where the market might still be strong because everybody knows that the Market's slowing down and next year he's going to have to Pivot so really this is coming down to the fact that we've got the smart money with 10 billion dollars in puts in an environment right now that's the same as June that is conducive for some negative news that could possibly come out this week we could see a great big leg down and then at that point we could see the smart money beginning to reverse and go long guys hit that like for me and say hi in the comment section subscribe to join the daily conversation that we're having on this channel and hit that Bell so you don't miss out on any of these technical videos because after all today is technical Tuesday and I'm going to go into the charts on as many stocks as I possibly can to sort of catch you guys up on the opportunity that I see in those stocks moving forward go ahead and comment the stock that you want covered next week on technical Tuesdays so let's get into those charts okay right now we're going to start with the SPX and I'm just going to point out to you that according to our plan we had these three days down and now we are looking at a one day up and as I told you guys yesterday that I am hoping or anticipating some form of a move to come back and retest this line of resistance in which we have two Touches at at the moment I'm looking for a third if we get a really bad report ahead of us it wouldn't surprise me if we simply Consolidated in this area where we're currently at and then we flushed down so it is not guaranteed that we're going to get a move up but as I've said before we are looking at a past drop when we had this initial drop and we moved had this massive move down we spent a couple days faltering and creating a double bottom we also had this sort of this small run up and then a repeat run down and then we got another move up and an area of consolidation and that's the same thing we've seen here we're moving down we've hit a spot of support we've run up we've come back and tested it and now the question is are we going to move up and get another area of consolidation before we move down or are we going to get a move up and somehow come up with an extremely low inflation report and get some sort of a breakout and maybe even come back up and test a higher level of support which might be this one here which we also have two touches on so we're going to be just keeping an eye on these things the other big thing that I pointed out to you guys the other day was this bullish Divergence on the S P I love bullish Divergence because it's one of the most powerful and simple signals that the market gives us we always keep an eye out for bullish Divergence and that's what we've got right there on the on the s p 500. okay now we're looking at a daily chart of the U.S 10-year treasury government bonds and as I've pointed out to you guys in the past these also have a inverse relationship to the stock market which means that as these move up the stock market moves down we have potentially a double top here we saw that it came back up to this area of resistance it got rejected and I'm simply going to point out to you there's some additional move room for this to move down tomorrow now if that CPI inflation data report comes out really bad then this could be an opportunity for it to move much higher and the stock market were to move down but if it did not come out bad this would be an opportunity for the U.S 10-year to possibly break this line of support and create a new trend going down now as we pointed out the SPX heads bullish Divergence I want to point out that the 10-year treasury bond yield actually has bearish Divergence so we're at the exact same height as we were just some weeks back which is right here okay but we have lacked the momentum of buying on coming back to that exact same spot here so this is actually bearish Divergence which means that the 10-year Government Bond could begin to be setting up for a breakdown which would be an absolutely bullish moment for stocks I want to cover Quant with you guys I haven't talked about it on this channel much in the past I have been purchasing Quant consistently with my other top cryptos but I want to say that I wish I had purchased more because Quant has been defying the downward trend of these markets from its June lows it has absolutely been moving up and only up and even though the market is currently sitting on its lows here we have Quant pushing right up to its very top looking for a breakout hitting this area of resistance and possibly if we get a breakout we could be going back to all-time highs on this stock but I am not saying to go and buy Quant I actually would say be careful at this point because it is if it fails this particular breakout it could easily come back and test this trend line and I would actually tell you that you'd be much safer looking for an entry around 120 dollars if you haven't gotten into it before and you'd also want to make sure that it held this in addition to all that we have this other very bullish story which I've talked with you guys about many times when the red 100-day moving average line crosses over the green 200-day moving average line that typically begins to say that there is going to be a much longer transition up for the crypto and so that's what we've got right here that's a very bullish signal and as you guys have heard me say before the that when you're above the 50 percent mark on the RSI what do I say the Bulls are in charge clearly the Bulls are in charge of Quant so this is one to keep an eye on not just now but looking forward into the next Bull Run look at this bullish momentum it's incredible so now we're looking at ticker tall t-a-l tall education you guys know this was the trade that I brought to you guys unfortunately on this trade we've had a breakdown we were trading this very solid trend line and we we entered in right around here looking for a very strong move to the upside breaking up to around the Eight dollar Mark was our Target but it really just hasn't gotten it it failed this movement it came back down and it was feasible that we might have considered getting out I had never entered a full position but I thought to myself I had entered around 20 percent here and my game plan was to enter 40 when it came back here and to accumulate in this range But ultimately I had a stop loss set I had adjusted it quite frequently when we saw this breakdown my stop loss of four dollars and forty cents got triggered we saw this massive move down yes we got a little bit of a green day but I can't say I'm very bullish on this stock simply because it hasn't performed for me but I think it's extremely important that I point out to you guys something that we should keep in mind about this stock if you have it and you're holding it and you haven't gotten kicked out of it which is where this stock is at currently I'm going to point out to you that from its June Lowe's tall education is currently 136 percent above its June lows so this is one of the reasons why I've I've mentioned to you guys that there are a lot of companies that had been beat up too hard in the past already and are not going to go back to their June lows here we are where most stocks have moved back all the way to their June lows or hit a 52-week low we saw that in a lot of the big tech companies but here these guys are a hundred and thirty six percent above their June loans so even with this drop I wouldn't say that tall education is doing very badly my guess right now is that it very much very likely might come back up and test this line of support and it might become a line of resistance so I'm expecting that this likely will get back to around the 5.14 mark pretty soon at the moment I haven't gotten back into it because I've simply got my eyes on other stocks and I've been moving my money around in other and Investments that I'm slightly more bullish on in my opinion tall education is still looking bullish but I haven't made money on it yet so I'm trending to go back to things I have made money on okay this is Fuel Cell Energy fcel you guys know that I got into this around three dollars and six cents the other day when it was on its lows we are actually not doing so well with fuel cell overall from the standpoint of it currently sitting on its June lows right here and so this hasn't had tremendously bullish momentum however I have liked this stock and I had made a ton of money on this a year ago when it had run up so much and I've been thinking that I wanted to get back into it at some point and when it came down here it was a falling knife we saw it come and hit this Mark back in February and we saw this nice beautiful dead cat bounce but eventually that got completely eliminated in June and now I consider this a a period of consolidation and so anytime it comes down to this three dollar Mark I've decided I'm going to add to my position I want to caution you I've done some technicals on this and I think that it has a truer range of support around two dollars so keep that in mind if you want to get the very best price to make the maximum profit and you are not afraid of missing out then you would consider accumulating this at two dollars if it comes back there I myself am imagining that this might be a level of accumulation and consolidation and I'm going to try to pick it up every time it hits this range or begin to buy between this range and the two dollar range increasing my buys as I go down you guys know how I taught you how to do that with the verb you know if you start off and you buy two hundred dollars here then you would buy three hundred dollars here and you would buy four hundred dollars here and this will end up giving you a much more dominant price moving average so that's what I'm doing right now with fuel cell I do have a stop loss in directly because it popped up to 311 and it gave me a little bit of a range I put a stop loss in at my Buy price which again I think was 306 if I recall so I could easily get flushed out of my position and the reason why I have it in because I just told you guys I'm going to accumulate around three dollars is we're moving into such a violent potential move in the markets that if this broke through this three dollar support level which has been here for a long time I would then expect that we are going I will hold off a little while and see where that new price down could be could it be the two dollar range so right now I've got a stop loss set at 306 if we hold the three dollars then I'm going to just add to it over time if we get a break I'm going to see if I can get a better price around two dollars that's the game plan with fuel cell I can't tell you that there is very bullish Divergence on the RSI if you look at it there's that flat movement which I pointed out to you before that would show neutral neutral action on the r on the RSI not bullish Divergence so this is simply in keeping with the price movement above which means that as the price is moved up or down the buying momentum has stayed consistent with it the only thing I will tell you is that in the area of support we're actually sitting on an area of support right here this area around the around the 40 percent Mark has been a buy range in the past for people getting into this which is kind of what we've we've covered here that this has been a historical level of support the three dollar range we have to see if it holds up if it breaks through my stop loss will kick in I won't lose anything and I will then be looking and eyeing two dollars I like fuel cell I like the momentum that it has it doubled in price from three dollars to six to to almost seven dollars when it moved so this thing likes to move it has an audience and that's the type of stock I like to get a great price at because if it turns around or a good news story comes out it's not going to move from three dollars to three dollars and fifty cents it'll move from three dollars to six dollars from two dollars to four dollars so that's what I'm doing with my fuel cell trade all right this is Sun opta s t k l ticker s-t-k-l and in general I just want to say that this is an example of a bullish chart we had back here this period of consolidation this sideways movement and price compression which I've talked with you guys about and eventually we got this beautiful breakout and the main thing I want to point out to you is that ultimately led to a crossover of the moving averages the 100 above the 200 and we have maintained it it has been steadily moving up we're in another range of potential consolidation but as long as we stay above this 100 day moving average I'm expecting a new leg up on stkl so what we want to keep an eye on for this one is that we don't lose the 100-day moving average and break beneath it that would be bearish if we broke beneath the 100-day moving average and there's where your stop loss should be set directly beneath it as the stock moves up you can move up your stop loss if the stock moves down and touches it your last Zone would be around nine dollars and that's when you'd want to get out because if we lost the 100-day moving average then we're probably going to lose momentum on the trade and come back and get back to the seven dollar range or even the 650 range so we need to be mindful of that right now the stkl trade is in motion and I want to point out here the same thing I pointed out on tall that this is actually a 121 percent up from its June lows and that's the type of companies that we want to be in right now because if they're doing well when the Market's falling apart it means they'll do better when the market recovers okay this is chargepoint ticker chpt and we have been trading this for quite a while and we have a defined range that I deter determined quite a while ago between ten dollars and fifty cents and thirteen dollars and as you guys can see this is held up very well if you have taken a position in charge point at around thirteen dollars or below you've had a couple times and a couple opportunities to make that a profitable trade a pretty profitable trade we identified that the sell Zone was was between Seventeen fifty and nineteen fifty but one thing that I want to point out is that you can see that the sell Zone and the buy Zone have been getting lower so here are the things that I want to point out to you one I want to point out that the RSI is flat we don't have bullish Divergence that doesn't necessarily mean that this isn't an ideal environment to buy I also want to point out to you that we're getting a nice area a line here of support this could continue forward we're getting a little bit of a squeeze zone right now though if this doesn't continue forward and we get a break we could begin to see that lower low that we had back at around ten dollars and fifty cents but in general if you have purchased it between thirteen and ten dollars and fifty cents it has proven to be a profitable trade for you guys so I would be keeping an eye on this and that you have the entry point of 13 that you would then slowly Fade Into Your Position by buying gradually from 13 down to 10 of course considering that your largest purchases would be around ten dollars now we could see this line of support hold and we could see it come back up and retest this line of resistance that has been slowly descending that's where we're looking at right now with chargepoint this has been a profitable trade as there's been more than one opportunity to get in and out at a good price I want to take a minute and look at ethereum and regards to all cryptos Bitcoin is really the one that you normally want to look at globally but I will tell you that I'm actively involved in a large ethereum trade I brought it to your guys attention a while back I bought right here at 1280 which had previously been resistance as the crypto moved up we found that it came back to 1280 and has been support so I have a large position right now sitting at 1280 and I'll be honest with you I'm a little bit nervous because we're definitely moving into a period of what I'd call compression now compression can be extremely bullish or bearish what it basically means is that the price range is tightening up and it gets it's get ready for basically it's going to shoot out one way or the other and so we don't know which way all this is going to go we know that there's going to be some volatility ahead with this inflation report but 1280 was my position where I chose to buy and I am positioned to see where it's going to go the bullishness I want to point out on ethereum right now is again that even though this price has remained consistent right or flat we see that there is actually less selling so so we see a bullish Divergence on the RSI so if there wasn't bullish Divergence on the RSI then this would look more like this it would basically be looking more similar the selling patterns or the selling pressure that measures the RSI would look very similar to the flatness of the price but that's not what we've got we have the selling pressure is diminishing even though the stock price is staying the same so that is bullish I'm going to refer to it as mild bullish but I also see that we have compression here so we are getting geared up for a pretty large movement this was a period of of consolidation but not quite compression but you see that after it it gave us this nice move up carry on network ticker p-e-r-i I originally made this call for you guys back on July 18th when the stock was here and as you can see that in general if you'd bought it that day and held it you would largely been up around 33 to 30 four percent so on perion we have both a descending line of resistance as well as an ascending line of support and we've sort of been in a stage of consolidation and price compression and I believe that it's very possible that if we continue this bullish momentum and that 100-day crosses back over the 200-day which we had here okay if we get another crossover we would then come up and test this 2640 range we probably would move up and then we would begin to have to work against it to get a breakout and to eventually move to all-time price highs that's what's going on in perion of course an area of consolidation and compression like this could break down and we could go back and test our long-standing historic line of support which is around the 1760 range which at the moment that would probably be an opportunity to buy because this stock has overall been moving bullish Sofi Technologies Sofia's Technologies is nothing that I've actually ever traded or owned but I get a lot of requests for it so I'm just going to give you some brief observations on the technicals what I want you guys to learn and take away from this conversation is just some very simple things here look on the RSI where do we have all of the momentum we have the momentum which is controlled by the Bears we know that because it has largely been on the bottom half of the chart this is the 50 percent mark this is the 30 percent Mark and this is the 70 mark up top anything below the 50 means the Bears are in charge we know that very briefly the Bulls made a move for it right here which got a little bit of curvature of the 100-day moving average but largely the momentum has been flat there is not bullish Divergence on the charts however what I can say is that we are at an area of support and so this could potentially be an air area where accumulation would be wise if you were bullish and you were expecting that we would get another move to the upside and the potential of the 100 Crossing the 200 but at the moment I would say that there is not strong bullish technicals coming from Sofi so you've just got to keep that in mind if I were owning it myself or bag holding it I probably hold off on buying any more and see what happened after Thursday if we had a massive breakdown then you have to ask yourself if you want to accumulate because remember what when a line of support gets broken through it then becomes a line of resistance so imagine Sofi at two dollars and imagine that your goal is for it to break back above its long-standing line of support at five dollars or 497. you've got to keep that in mind so if we get a breakdown on Sofi I'm going to tell you that it's likely to go to two dollars if this this area holds then and we get another move to the upside then we would get this 100 day moving average line to begin to curve up and eventually cross over the green 200-day moving average line and that could open up to an environment of it returning to more of a bullish state but at the moment to be clear it's bearish in my eyes so hey we're going to be looking at Tesla now and Tesla is a controversial stock as I've told you guys before I identified quite a while ago that Tesla was in what I'm referring to as distribution which typically precedes an area of decline we saw that in recent days Tesla has dropped from you know around 320 all the way to 215 and so we have to ask ourselves are we at a place of support where we could potentially see a bounce and here's my thoughts I want to just point out one thing on the RSI that we are in oversold territory and every single time that we have come down and been and broken over that 30 percent Mark and officially entered into oversold territory it has been a good idea to buy Tesla because a big move up has followed so when the last time we got oversold and we were at 220 well then there was a hundred to 120 dollar move to the upside impending and here we are again we're in oversold territory and so if I had to personally make a buy I either wouldn't touch it or I would go long on Tesla and imagine that this is an opportunity and that we might come back and retest this 320. we could be in an extended period of of accumulation or reconsolidation in Tesla and so it wouldn't shock me if we got a number of moves in that range between 2 220 and 320 or 210 and 310. so that's kind of what I'm expecting I wouldn't go against Tesla right now because there could be an easy violent move up upwards on Tesla but in that same breath if we officially break this current range right now that we're sitting at which is around the two dollars and 215 dollar range then yes we are likely going to go and hit a 180 dollar Tesla if I were to buy Tesla for me right now would be gambling because I don't think the charts are extremely clear but if I were to and buy it I probably would choose to go long because I don't think the Tesla story is over I think it has a lot of bulls and bears that fight over the direction and I think there's more Bulls than Bears who are who are going to be interested in fighting over the long-term direction of Tesla those technicals in this video today were sponsored by MooMoo as always you can get a link in the description of the video so that you can download the MooMoo app and join my community over on MooMoo if you open and fund your account you can get up to 15 stocks but if you put in just one hundred dollars you're guaranteed six chances at stocks valued at two thousand dollars each get the exchange get the free money and find me over there for more conversations about stocks and crypto that's it that's all we've got time for today I'm again I'm expecting tomorrow to be bullish and I'm expecting Thursday to be volatile but we covered some great stocks again let me know in the comments section what you want me to cover next week on technical Tuesdays I'm covering crypto tomorrow as the day I'm hoping will be bullish and I'm going to bring you guys some interesting insights into the crypto market right now I hope you enjoyed the technicals today as always peace and blessings my friends we'll see you tomorrow
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