Over the summer, we started actively posting charts on StockTwits that we thought were interesting from our platform. As with anything, nothing is close to being 100% in the markets and all traders should do their due diligence before trading anything. For that reason, the point of this post is to not have traders blindly follow us on social media but to understand some of the logic that was behind our reasoning for the post and direction we thought the stock may go. There are plenty of charts that did not go as our post expected but for this particular blog, we focus on explaining the logic for these correct moves. Below are some timestamps we have captured over the last few months!
Technical Reasoning: Price found support on the moving average below and moved up quickly towards the next level of resistance which was right around the $2.80 zone.
Change since StockTwits Post: 11.16% within 5 days.
Technical Reasoning: The TrendSpider platform identified the next major area of resistance at the red trendline above in this image which was right around the $2.63 mark. Click here to learn more about how our system identifies trendline!
Change since StockTwits Post: 4.37% within one day.
Technical Reasoning: The TrendSpider platform identified a falling wedge formation here as the price was trading within the middle of this wedge. Heavy selling had started and looked likely to continue. Selling did continue to the lower .20s after this was recorded. Click here to learn more about trading wedge formations
Change since StockTwits Post: -18.33% within a week
Technical Reasoning: GoPro bounced hard off the price channel in mid-August after a nasty selloff. The price did not make it to the yellow resistance above but came close.
Change since StockTwits Post: 23.12% within a little over a month.
Technical Reasoning: Ethereum moved hard to the upside after hitting the mid $150s which was the wedge support area. This ended up moving all the way up to the mid $250s to test the wedge resistance. This was rejected hard and moved back the low $200s within days.
Change since StockTwits Post: 16.44% within a week.
Technical Reasoning: HUSA had just previously broken out of the symmetrical wedge identified by the TrendSpider platform and then moved up right to the red trendline above that the system picked out as the next level to watch at $.285-.29.
Change since StockTwits Post: 29.11% within one day.
Technical Reasoning: In this image, NVAX was breaking out of the price channel (yellow trendline) and had a gap above to fill around the $1.97 mark. This gap filled a day after this timestamp was recorded.
Change since StockTwits Post: 5.86% within a day and gap fill within two days.
Technical Reasoning: This chart was created by one of our technicians right after we introduced lower indicators. This backtest included our Multi-time frame analysis on the lower indicators. One of the main things we look for is a short-term RSI or %R cross through a longer term (usually daily vs. weekly). Click here to read more using multi-time frame analysis with lower indicators!
Change since StockTwits Post: 6.88% with 15 days.
Technical Reasoning: This stock was a huge momentum play after an insider buy around .42 was announced as well as a conference presentation the following week. We identified this momentum during the day after an intra-day selloff from the $1s and looked to be moving back up. Click here to learn more about variables in the market that move price!
Change since StockTwits Post: 15.73% within 4 hours.
Technical Reasoning: CRMD is a textbook example of when the price bounces off the moving average with a bullish candle formation. This ended up moving to test the upper .70s above after this timestamp was recorded. Click here to learn more about using moving averages when trading!
Change since StockTwits Post: 32.73% within a week.
Technical Reasoning: This is a textbook example of using more than just one strategy on the chart. If a trader was solely looking at the moving average breakdown here, they would have missed the reversal which was signaling on the Williams %R and RSI. Click here to learn more about how you can use our candlestick pattern detection and find candlestick patterns quickly!
Change since StockTwits Post: 42.14% within 10 days.
Technical Reasoning: This chart of GE shows the price about to break down through the purple support line. One of our technicians manually chose these two black trendlines as the main price channel to watch for further downward movement. The price missed the target below by around 25 cents. Click here to learn more about building your own custom charts!
Change since StockTwits Post: -4.08% within a day.
REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis provided for educational reasons only. TRENDSPIDER IS A CHART ANALYSIS PLATFORM. IT IS NOT INTENDED TO BE TRADING OR INVESTING ADVICE. ALWAYS DO YOUR OWN DUE DILIGENCE USING MULTIPLE SOURCES OF INFORMATION AND/OR SEEK THE ADVICE OF A LICENSED PROFESSIONAL BEFORE TRADING OR INVESTING. Please read our full risk disclaimer on our website by clicking here.