Robin Hood is performing very well, but the creator advises waiting for technical confirmation near support levels.
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Technical Analysis of Stocks: SPX / QQQ / NVDA / TSLA / AMD / PLTR / SOFI / IREN / HOOD
The creator discusses the current market correction, noting that indices and stocks are testing critical support levels. They analyze the SPY for a potential head and shoulders pattern, highlighting a bullish candle that could signal a bottom if confirmed. The QQQ is seen as weaker, with a bearish bias until a bottom signal appears near support. Nvidia's decline reinforces the bearish outlook for tech stocks.
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Tickers discussed in this post
SoFi is showing a strong bullish reaction above the 21-day MA, forming classic bottom and potential cup and handle patterns, with the creator having a positive past trade and seeing potential for further upside.
Palantir shows a promising reaction above a key point, but the creator warns of a potential dead cat bounce and a persisting bearish bias, advising caution and waiting for more technical confirmation.
AMD will turn bullish with a breakout above 546, targeting the 600s, but a loss of 507 support could lead to a catastrophic pullback.
Tesla needs to break and close above $380 to signal a possible bottom and initiate a rally towards higher levels.
Coinbase is reacting well above a clear support level from September 2024, showing a solid positive move.
Microsoft is making a nice solid bullish reaction above a clear support level, serving as an example of desired stock behavior.
Nvidia is also declining, which reinforces the bearish case for the QQQ and suggests the SPY could also turn bearish.
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