$ADTN is getting interesting.
Bouncing off both the weekly and monthly trendlines and now approaching a breakout from the daily falling channel.
Momentum is starting to shift, but I want to see a close above the 20 SMA to confirm the breakout.
Keep an eye on this one. If it clears that level with strength, $ADTN could take off from here.
$TDOC price has pulled back sharply after the earnings and is now testing support near the rising moving averages. From this level, it has room to recover higher.
$GFS looks like itโs found a bottom and is trying to bounce. GlobalFoundries is essentially a chip factory for other companies, specializing in differentiated, high value semiconductor technologies rather than bleeding edge logic processors.
$RDDT was trading in a strong ascending channel until earnings changed the story.
The chart doesn't look as attractive right now, but I believe the long-term trend remains intact and expect it to work its way back toward that channel.
I added to my position on this dip and will continue to scale in if the stock moves lower.
$TSLA appears to be forming a base after the recent selloff.
This is still a speculative setup, but buying pressure has been increasing and momentum has started to improve over the last two sessions.
I'm watching this level for a potential entry, with $297 as my risk level. A close below that would invalidate the setup.
$AA is following a setup that looks very similar to $ORCL before its breakout.
After months of selling pressure:
- Broke the descending trendline
- Reclaimed the 5 & 10 SMAs
- Now trading between the 10 & 20 SMAs
The 20 SMA is the key level. A breakout and hold above it would strengthen the bullish case.
$ORCL is showing signs of a potential trend reversal.
After a steep decline, the stock has:
- Broken the descending trendline
- Reclaimed the 5, 10 & 20 SMAs
- Started forming higher highs and higher lows
The breakout is confirmed. Now it's about follow-through. If buyers keep defending the 20 SMA, this recovery could have room to run.
$CHTR is closed strong today ~$140 (+6%+) after earnings. Stock has been basing after the brutal selloff from 250+ highs. Closing and holding above $145 would confirm a short-term breakout with tight stop-loss around $140. Still in a longer downtrend so watch for follow-through. High risk/reward setup here.
$QQQ update: The pattern from the June peak has evolved into a well-defined descending channel. Price is currently pressing the lower channel boundary near 684. A clean break below opens the door to further downside, while a bounce could target the upper channel line (around 710โ720) for a short-term relief rally.
$AAOI is attempting to rebound after finding support near $91. The stock is approaching a key resistance level at $120. A close above $120 will confirm the breakout, while a pullback to retest support remains possible.
$NBIS is rebounding from a major support zone after a sharp pullback. The next key level to watch is $199. A close above that level would confirm the breakout and improve the bullish outlook.