Market generally weak. Leaders slowly withering. Be careful. Your typical buy on dip text book mentality will have to be adjusted as I think we’re gonna experience more significant dips.
I’m gonna take a vacation first and drink beer on the beach, while waiting for clearer signs and better opportunities.
20.50-21, with a sell on rally opportunity at 24-25
One of the titans of our market, you’d be thinking that these stocks are invisible, but you may want to reconsider that mentality. break below 200 you’d see it around 185
Just like URC, this is one of the favorite stocks of “long term peeps”.. Unfortunately this previously unstoppable name is also showing weakness. Almost same structure as URC, break below 200, and watch it near 180.
If this doesn’t hold 10.00+ successfully and break 10.80-11 then it seems like it’ll range down 8.00-9.00
Pardon the lines lol it’s just for illustration, this is one of the view remaining top dogs of the market, simply because it has always remain superior vs peers and ALI remains strong… but even this name is showing warning signs on my system.
if it closes below 800, watch 750.
The structure sucks, signals sucks. break below 5.00 and you’ll see this near 4.6-4.7.. but then structure just sucks.. seems like any rallies from initial supports will be chances to sell till it stabilizes near the 4.00-4.20 mark.
This just looks ugly.. Failure to re-take 40 and 41, then this means it’s dead for the mean time. I expect it near 35-36.
Structure reflects most of the leaders.. slowly weakening failing to take out critical levels.. initially 7650. If it still sucks watch near 7400.
That’s all, chill2 muna.. Broad market will definitely be more challenging. The game is now on stock picking, mostly on the speculative side, if you really want to out perform in the coming months.
I like to keep my shit simple, no need to make it fancy.
Note: this aint a reco to BUY/SELL, take these as references, and for entertainment.
Act on your own JUDGEMENT
Your money is your RESPONSIBILITY
Always have a TRADING PLAN
Feel free to subscribe if you want to hear more of my thoughts.
Charts are provided by: Investagrams.com
For those who have queries, questions, suggestions, trashtalks, you may hit me up on my FB PAGE