Loading ...Please share your knowledge on the importance of weekly reversals
Two popular big cap stocks experienced weekly reversals this week, higher high with a close lower than last Friday’s.
https://finance.yahoo.com/quote/TSLA/history?p=TSLA
https://finance.yahoo.com/quote/NFLX/history?p=NFLX
Do these reversals really imply a change of direction? Would it be even stronger if next week’s close is even lower?
Of course, I’m not looking to short any of these big names, fearing a Fed announcement, as and when a decline spreads broader and accelerates.
But I have been observing SRTY since March 2020, and it looks like a good buy at 9.50 to 10.50 range.
Thoughts on SRTY welcome :-), just as a vehicle to generate short term profits and put proceeds into miners 🙂
GL
Harry see’s reversal on NAS…
Of course! How did I miss the biggie, NASDAQ!!!
Weekly reversal, with this week’s close over 1% lower than last week’s close.
GL
DISCLAIMER: Harry’s been more wrong than right lately especially calling for $800 AU then again you can hear for yourself…
https://www.youtube.com/watch?v=nAtnJAYap3Q
The $700 or $800 AU has been a forecast.
The reversals that happened in Nasdaq, NFLX and TSLA are all real.
This could be a good time to short the NASDAQ 100 Index.
Today, the gain from 03/02/09, excluding dividends, reached an astounding 900 percent.
See link to chart below.
With Tesla and Netflix experiencing a strong reversal this week, the perpetual dip buyers may finally go away.
Also, Microsoft declined more than 5 percent for the week.
I am shorting the NASDAQ index via a 2X leveraged inverse fund (QID)… only a small position for now.
http://schrts.co/cyajCMiY
Just to be clear .
You are shorting a breakout and backtest
http://schrts.co/fyPtgUqQ
Thanks for the heads up, Fully.
It does appear to be a breakout and back test.