Bull flag pattern in Intel $INTC continues to develop here. Attempted to break out at the open, but failed to hold on, leaving INTC still inside the bull flag. One of the biggest hold ups to a trade setup like this is the stop-loss placement, as it would likely require a 20% stop, and thus a 40% reward expectation, which certainly is possible in a stock like this, but being willing to take on such large risk is a whole other matter, that I'll opt out of.
$GOOGL starting to break below the 50-day MA and key support going back to the previous all-time highs. At this point, should the breakdown stick, I would expect a bigger move ot land somewhere between 310-320. Obviously, if the market doesn't sell-off with it, I think it provides a shallow floor for the stock here. Its industry is a hard one to get a read on with price reflecting the stock, so no real edge there.
Nvidia $NVDA has what is essentially a double top pattern, though the second top peaks just slightly lower than the first, the construction is still very similar to what you typically see. Having confirmed back on Friday, it managed a steep leg lower yesterday down to a support zone before ultimately bouncing. But further weakness today has price below the 50-day moving average and sets up for a retest of the support zone. Should that break, my eyes will shift to the 200-day moving average.
Incomes not keeping pace with inflation has been the persistent economic issue for tens of millions of Americans for quite some time.
When Congress borrows trillions and runs massive deficits, it is still an effective tax increase β it just comes in the form of higher prices.
So many people think I'm crazy when I say that some of these AI companies can potentially lose 75-80% of their value if we get a true bubble burst.... but just look at $AVGO over the past week, it has lost 25% of its value already.
Apple $AAPL weekly chart is breaking back below the upper channel band. Weakness in technology last week and attempting to follow through lower this week, could take AAPL closer to the lower channel band. A lot of weakness in consumer electronics over the last 5 weeks as well that is starting to weigh on AAPL. Volume over the last three sessions have picked up noticeably on the stock and worth keeping a close eye on.
Intel $INTC bull flag setup for those who have an appetite for heavy amounts of risk. Gapped below and broke its rising trend-line on Friday, but with a crazy 13% bounce today, it is back above that level, and now setting its sights on the bull flag breakout above 120. From a risk management standpoint, there is none, as you'd likely be looking at a stop-loss of more than 25%, which then means you need to justify a 50% move to get in the trade, and be okay that if Friday's lows are taken out, that it was worth the 25% loss that could be had. But let's be honest, at that point, if you were willing to risk that much, are you really then selling for a 25% loss because your stop was hit? I don't think so.