Picks for 8/9/2022

The market will likely take a breather to consolidate after rallying off the bottom in recent weeks. I will be watching:

QQQ to retest the $314-$308 range before moving higher in to year's end.

SLI - ADX of 46 with D+ angling up indicates a strong uptrend as yesterday's candle took out the .78 Fibonacci level as it approaches the POC (12month)

OBV confirms the uptrend and short and long term Force Index suggest the rally up should continue.

Looking for a break above 6.33 with volume to avoid a potential double top .

Target: $7.91

XAIR - Yesterday's tall upper wick and failure to hold the .61 Fibonacci level leads me to believe we will see it pull back to to $9.46 or under.

ZOM - This continues to look strong. Next target: .4274

LVO - Watching for a break of resistance at $1.43

Also watching: VERI, XBI, AMWL

29 views0 comments

Recent Posts

See All

PYPL - The 8/3 gap was filled on 2/1 at 89.63 and tested again. The most recent candles have been relatively large and green closing above the .5 fibonacci level. The 9 EMA crossed the 20 EMA shows

AES - AES made a "golden cross" on 9/1 and the daily candle made a bullish engulfing candle. In addition the Bullish Engulfing candle closed above the (weekly) descending trend line of the triangle. O

DCPH - Price is working its way to the end of the wedge and closed above the 1.61 fib level after pulling back from a bull flag . OBV crossed its 20 day EMA , D+ crossed D- on the ADX and the MAC