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@mraveragetrader Obviously we have the benefit of hindsight but Biden winning the election was a sell the news event. This can be seen with the climax rally that ensued in January/early February. The market always seems to do what the least amount of people expect.
@DBclouds99 Yup, market consolidation is not helping many of these watchlist ideas. It’s important to wait for the candle close. Price action on $DVN is also crashing into the 20.52 support where the bulls might step in.
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@AOTtrades A very clear rejection of the mid 17s. Breakout on high bull volume ➡️ bearish engulfing ➡️ shooting star and dump. The bulls need to change that daily trend yet again. Fortunately, the volume still favours upside, despite the price action.
@monsterstocks1 It's interesting to see the psychology behind the 21 and 50 day lines. $PLUG is a good example. 4 touches of the 50 day during the fall of 2020 represented institutional accumulation on good earnings, and once euphoria hit, the 21 day became the bounce level.
$H - I am saving the best for last here. Hyatt is poised for a solid move if the bulls can capitalize. Clear respect of the 50-day & key Fib levels, high bull volume, and a notable bull flag gives me strong conviction for a run higher.
$NIO - With Tesla getting some traction, it is a fair bet to assume a rotation into beat-up EV names. NIO is set up very well to capitalize. Similar to BIDU, the bulls must reclaim the 50-day before a notable move can begin. However, buying these levels has great R:R.
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