Mag7 Tech Stocks - Edition #21
Ukraine - Russia war escalations might be f'n sh up as markets could risk off and head over to precious metals like Gold and Silver. Thank you Biden Administration....
Adding up to the war uncertainty, the Roundhill Magnificent Seven ETF $MAGS time at mode bullish trend is also getting close to the end of the month expiry date. We have now a clear bearish range expansion and engulfing bar in the 3-day chart that is showing weakness in the tech sector#nobueno.
Any retrace back towards $49 should be a re entry although do keep in mind December tends to be a low volume month as most traders and big players simply lock in profits and go on Holidays. Might as well play it safer.
🚀🚀🚀 Tesla $TSLA - MACRO F'N BULL
Insane strength behind Tesla nonetheless taking into account global uncertainty of war escalations it could be smart to take some profits at market price although this should be the one stock to simply hodl with a long term investment scope.
Ideal re entry point should be at around $160.
🚀🚀🚀 Nvidia $NVDA
Long entry has been hit. Bullish market structure is intact nonetheless stop loss has been placed tight at the most recent low on a daily doji candle. With all the uncertainty going on I'm not willing to risk much here and I'm expecting a quick bullish price action move above previous highs. First sign of weakness and might as well close the trade. Plus the bullish time at mode is also close to expiry by the end of the month.
🚀🚀🚀 Alphabet $GOOGL
3-day chart printed an ugly bearish expansive and engulfing bar. Will take some profit off at around $180. If price breaks above this level we are all good but better safe than sorry. Stop remains at break even.
🚀🚀🚀 Amazon.com $AMZN
We are now long as our entry point has been hit. Price has perfectly retraced to $200's level. Price now must show strength rather quick by making a at least a higher high on the 4-hour chart.
Apple $AAPL - NEUTRAL
Price has found a temporary bottom. Stock is currently trading within a range. Short upon weakness at the highs or long upon a strong break above previous highs.
Meta Platforms $META - BEARISH
Nope, price keeps showing weakness and its more than likely to continue.
This a free fall to low $500's.
Microsoft $MSFT - bearish
As previously said, not worth trading right now.
Previous report HERE:
Luis Ricardo Guizado
Disclaimer
Not financial or tax advice. Zelf Trade is not a financial institution. No content on this Newsletter is financial, accounting, legal or tax advice. Zelf Trade content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
