SOFI is approaching a support level, presenting a potential buying opportunity after a previous profitable trade.
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Technical Analysis of Stocks: SPY / QQQ / NVDA / TSLA / AMD / PLTR / DELL / SOFI
The creator discusses the current market downturn, noting that SPY is showing bearish signals with a double top and potential head and shoulders pattern, suggesting a pullback. QQQ, however, is still resilient, maintaining key support levels and staying above its 21-hour EMA, indicating tech stocks are holding strong despite some individual stock declines.
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Tickers discussed in this post
Dell is in a strong bullish trend but showing signs of losing momentum, with pullbacks being normal but a loss of key support could signal a sharper correction.
AMD is up over 4% and maintaining a bullish bias above the $486 support level, but the creator advises against buying at current prices due to a poor risk-reward ratio, suggesting waiting for a pullback.
Tesla is showing a bullish reaction above a double support level (purple trend line and 21-day MA), but confirmation is still pending.
Palantir saw a significant decline of over 6%, highlighting weakness in some individual stocks.
Nvidia experienced a collapse of more than 3%, contributing to the overall market downturn.
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