Technical Analysis of Stocks: SPY / QQQ / NVDA / TSLA / AMD / PLTR / SOFI / MU #Finance

all right so today we finally see a correction with the Spy QQQ and many other stocks materializing bearish signals now with this movement some questions emerge such as is this reaction enough to trigger a correction ahead if so what can we expect next so in today’s CashNews.co

we’re going to work through some scenarios using technical analysis and statistics to base our ideas on Welcome to the Finance Hydra Channel my name is Nathan

it’s a pleasure to see you guys over here and yes today’s reaction is quite strong the Spy is materializing a very solid bearish Candlestick today completely rejecting yesterday’s bullish Candlestick pattern suggesting that this is a classic top signal which could trigger a

correction ahead the QQQ also also materializes a beish reaction but in this case over here it is way more intense because because it is not only rejecting yesterday’s candle but we are still below the alltime high near the $500 and we are losing the $493 the previous top level over here

which failed in working as a support level for us today therefore it is suggesting that the QQ could correct to lower levels or next technical Targets on spy and the QQQ are the 21-day EMA the exponation moving average on the daily chart over here the Spy also has a 21-day EMA below the price

acting as a future support level and uh however on spy case over here we see another technical support level the 574 the previous top level over here and uh however if you if you guys ask me such bearish reaction today has a very nice timing because if we project if we project the height of this

congestion in the direction of this breakout we see that spy materialized a top signal right below our technical Target therefore it is a classic bearish reaction under a technical resistance level I did share this technical Target on the 5% projects channel so if you have any interest in joining

us just take a look at our website link in the CashNews.co’s description but so far this reaction over here seems to be seems to be a classic a classic bearish engling Candlestick pattern which is a relatively uh reliable bearish reversal Candlestick pattern because it acts as a reversal

roughly 79% of the time according to bossk’s studies and of course the C is also materializing another bearish engling Candlestick pattern over here and remember this Candlestick reverses the trend 79% of the time if if certain conditions are met and of course I teach you how to trade this

Candlestick pattern and many others in our ebook on technical analysis which is available to the members of the 5% project or educational project that you can try out for free and download or exclusive ebook on technical analysis for free as well which will be yours forever completely free of

charge many many of the little secrets to trading Candlestick patterns and chart patterns are there little secrets that can boost your performance and increase the wing ratio of your trades so just check out our website for more information Link in this CashNews.co’s description now how this

is going to affect our stocks because we see a quite reliable bearish Candlestick pattern over here on the spy and on the QQ however they are still bullish all right the trend is still bullish so any pullback to our support levels could be just another buying opportunity how this is going to affect

Nvidia for instance Nvidia is also materializing a bearish reaction below the all-time high we broke the 136 yesterday but uh today we once again failed in breaking this key point and that right now we are correcting sharply however it seems we just reached our next technical Target around 130 the

previous top level over here now acting as a support level for us another example of the principle of polarity in technical analysis previous top levels are going to work as future support levels and vice versa therefore it is a very technical movement but uh if the indices continue to drop if

their bearish signals actually work and we see a sharper correction ahead we still have more downside for NVIDIA and other stocks over here and in this scenario Nvidia could easily retest the 21-day EMA in the next few days Tesla conversely Tesla is is going up today right Tesla being Tesla again

right we are going up 0.04% not that much but it is still stabilizing its price after the collapse uh thanks to robot Taxi by the way so this movement over here is just a signal of stabilization it is too soon to tell if Tesla will actually reverse from here we will actually Bounce from from here

but if we lose the 21 week EMA over here which is acting as a support level for us then nothing will prevent Tesla from retesting low lower levels like the $200 or even the 182 down here which is our next technical Target on the weekly chart so it is a critical moment for Tesla it feels like it is

now or never only if we see a very meaningful powerful bullish reaction on the daily chart we could avoid a sharper correction over here on the weekly chart and again the timing for a bu for a bullish reaction is just perfect because we are right above the 21 week EMA a technical support level that

is acting as a support level again for Tesla’s price so right now if if you want to see Tesla being bullish again we got to see a quite powerful bullish reaction as soon as possible over here on the daily chart all right meanwhile we see AMD AMD this one is just collapsing it is losing our

support level at the 21 Day EMA we are also trying to lose our next technical support level the $158 down here the previous bottom level over here by losing this bottom level then AMD along with the 21-day EMA AMD will officially enter bearish territory again suggesting a sharper correction to even

lower levels our next technical support level is $148.1 all right this is going to be our next technical Target it is quite frustrating to see such reaction on on AMD because we failed by just a few cents on closing this Gap over here 17453 uh October 99’s high was 174.50 cents all right so

we were very very close to close this Gap over here so it is quite frust stting to see such bearish reaction but uh if you ask me there is still time for a reaction but uh right now we don’t see any bottom signal there is not a single bullish reaction that could frustrate this bearish cesti

pattern over here yet unless if we see a very miraculous reaction on the spy on the CQ again frustrating the idea of a bearish angle thing Candlestick pattern on the daily chart because there is still I know guys I know if certain if certain conditions are met we have literally 79% chances of

actually triggering a sharper correction however if we see a very very good meaningful bullish reaction like tomorrow or in the next few days on the Spy QQ we could we still could reject this bearish reaction over here this bearish technical Candlestick pattern over here all right in this scenario

we could see many other stocks reacting above their support levels like Nvidia like Tesla like AMD over here avoiding avoiding the breakout of the 158 so there is still time for a reaction if you ask me in my humble opinion I would like to see a sharper correction ahead because if we see a sharper

correction this means more more possibilities more buying opportunities if we see the indices if we see more stocks approaching their support levels it feels to me that many stocks are quite far away from their support levels like paler for instance palter is another is a very good one it is

another stock that is on my radar but uh we got to see a pullback first if we see paler approaching the 21 d ma approaching the $38 again that that would be just fantastic any bottom signal in this area could be just another buying opportunity because the trend is still bullish oh but Nathan what

if what if we lose these support levels over here then Palante will reverse the trend then all right we can work with short positions but right now as long as the trend remains bullish we got to work with long positions this is how I have been surviving in this game for more than 10 years by the

way always working always working with patience always working strategically using technical analysis always knowing where my target is my stop loss is before I place the trade therefore we got to work with intelligence in this scenario so let’s see if a pullback will actually materialize or

not meanwhile Sofi Technologies one of your favorite stocks you guys always ask me to analyze this one and uh more often than not I forget about it but uh right now right now we see Sofi going up roughly 1% it did a very nice bullish movement over here this morning but uh right now it is losing

momentum could this be a top signal yes it could in fact this Candlestick over here could be a possible gravestone do G Candlestick pattern or even or even a shooting star Candlestick pattern either way they are both bearish Candlestick pattern suggesting a possible pullback what if we see pullback

next Nathan if we see pullback then $918 will be our next technical support level what if we lose the support level the 21-day EMA which is right now close to the $853 will be our next technical support area all right right now right now if you ask me we just hit the $10.49 resistance level the

previous top level from December last year so seeing a top signal below this resistance level is not surprising at all is this a good moment to buy of course not we are near a resistance level Buy near support levels sell near resistance level if we see a pullback to the $9 or to the $8 again

fantastic maybe it will present another buying opportunity but right now right now this stock requires a lot a lot of caution because we are making a top signal below a very important resistance level Micron is materializing a very sharp bearish reaction we are still above the 21 Day EMA we are

trying to maintain the bullish bias but uh if we lose if you ask me if we lose this candle low the Candlestick from October 10 which to me was a ignition bar if we lose this candlestick’s low over here which is very close to the 21-day EMA by the way it is done all right Micron will probably

correct to lower levels maybe to close this Gap over here around $968 cents so this is it all right it is a very simple situation if we lose we lose if this one works out if this one reacts above our support area fantastic as far as I know Micron has a technical a technical double bottom chart

pattern on the weekly chart by breaking the 111 over here we could materialize another very nice recovery to the 145 again but uh so far we got to see a better decent reaction now another alarming signal speaking of weekly chart another alarming signal is that on the weekly chart we got to see the

Spy avoiding a classic top signal over here because if we see a top signal on the weekly chart on the Spy we could trigger a pullback on the long term a long-term pullback that could last a few weeks over here all the way back to the 565 or maybe even the 21 we EMA if the Spy actually loses its

double support area over here around 574 and the 21 Day EMA the is also trying to materialize a bearish reaction suggesting a sharper correction on the weekly chart of course the weekly candle is not closed yet we are still today is still Tuesday right I I almost forgot today is Tuesday all right

so so there is still time for a reaction if you ask me on the daily chart in order to avoid a mat a materialization of a top signal on the weekly chart which could be very very dangerous so so for now let’s pay attention on our key support and resistance levels I’m going to keep you

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