readthechart
@readthechart
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Joined July 2023
similar to $AI, $IOT also shows support on different levels. Entered some positions, once it breaks out ~$27.5, pattern will get confirmed, at least downside risk is limited. good ratio on RR.
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$AI, https://t.co/fsgkRe3hXv, ever since their last earning report, price has been consolidating, now it is supported by 20EMA/MA, both of which are going up (yellow dot in graph will go up). and it is still testing the big spike after last quarter ER. RR is very nice now
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$NIO patience paid off. This breakout could bring out some nice movements, hourly bullish pattern could trigger cascade on daily and weekly. ride with the momentum is at ease. flip side, if for next 2 week, lines reversed. will exit until market settles another good pattern.
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$SPY, $NQ a quite normal pull back. $VIX is almost flat. actually a long waited pull back, glad it happens early.
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shorted some $TSLA for fun, at $270-$300 it has been tested multiple times last year, and tesla just stepping into it now. daily charts suggests it may take a month for a decent converge. I will wait for better pattern to buy again.
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The outlook presented in earnings reports does not necessarily dictate the behavior of stocks to a significant extent. It may just be an FYI. a -7% negative expectation
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When there are still people discussing a recession, stocks have the potential to continue rising. However, once the conversation about a recession subsides and fades away, stocks may experience a slowdown in momentum. $SPX, $QQQ
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