Robinhood is technically stabilizing near a critical weekly support level, with potential for a significant rally if a meaningful reversal above the 21-day EMA occurs, though the trend remains bearish.
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Technical Analysis of Stocks: SPY / QQQ / NVDA / TSLA / AMD / PLTR / MU / HOOD
The creator analyzes several stocks and ETFs using technical analysis, noting stabilization in indices but highlighting interesting reactions in tech stocks. Key mentions include SPY, QQQ, NVDA, TSLA, AMD, PLTR, MU, and HOOD, with a focus on support levels, resistance, and potential trading opportunities based on chart patterns and EMA indicators. The creator emphasizes a preference for pullbacks to better risk-reward ratios before entering new positions, while also cautioning about existing bearish trends in some stocks.
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Tickers discussed in this post
Micron is technically very bullish short-term, maintaining its uptrend above the 21-hour EMA and showing a powerful long-term bottom signal on the weekly chart, with a target of 455.
Palantir is attempting to form a bottom signal near a support level between 128 and 125 after a significant collapse, but remains technically bearish and below the 21-day EMA.
Tesla is reacting well above support levels, showing a decent chance to recover towards resistance, but caution is advised due to the prevailing bearish trend and high beta.
Nvidia is showing strong bullish momentum, breaking resistance at 187 and setting a new target of 196, with pullbacks near support potentially offering further buying opportunities.
The SPY ETF is maintaining its short-term uptrend above the 21-hour EMA, with a bullish bias despite today's reaction, and pullbacks near support levels could present buying opportunities.