As TrendSpider’s main focus is being a charting platform, we also actively share chart setups and ideas every day on our social media accounts! As with anything, nothing is close to being 100% in the markets and all traders should do their own due diligence before trading anything they are interested in. For that reason, the point of this post is to not have traders blindly follow us on social media but to have users 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: After forming an inverse head and shoulders pattern and bouncing off the EMA (50), the price bounced hard to try and retest the blue resistance trendline above. To learn more about moving averages and how they can be used, check out our blog post here.
Change since StockTwits Post: 10%+ within eight days.
Technical Reasoning: After a hard move down in October, QQQ started forming an inverse head and shoulders pattern with heavy buying volume at the “head”. Buyers came in quickly after which pushed up price quickly to test the neckline above. To learn more about different trading patterns, click here!
Change since StockTwits Post: A 2% move up in price within one day of this post.
Technical Reasoning: TrendSpider was able to capture this wedge formation on BPMX in which the price was holding the first level of support here. To learn more about wedges and how they can be traded, check out our blog post here.
Change since StockTwits Post: 14.60% within a week.
Technical Reasoning: This post is a great example of TrendSpider’s multi-time frame analysis used on lower indicators. We have found that when overlaying certain timeframes such as the daily and weekly RSI, a move to the upside or downside through the longer-term indicator can be seen as a bullish or bearish change in momentum. To learn more about this feature, click here!
Change since StockTwits Post: 8%+ within in five days.
Technical Reasoning: After forming a strong head and shoulders on the weekly candle, the price finally found support right at the neckline of the formation. After a couple doji closes on the weekly candle, this moved up hard after earnings and tested the black trendline above at which the price was rejected hard. Learn more about head and shoulder’s patterns here.
Change since StockTwits Post: 12%+ within 5 days.
Technical Reasoning: After the initial move down in October, a hard bounce formed which was likely due to short covering and another round of re-shorting. The SPY continued to move down hard after this to test the trendline support below shown by the purple line on the left chart. Click here to read our analysis over the full month of October during the correction!
Change since StockTwits Post: Down more than 5%+ within 15 days.
Technical Reasoning: This post is a great example of the MTFA (Multi-timeframe analysis) feature which allows users to overlay a longer-term indicator over a short-term indicator. In this case, the daily RSI was crossing through the weekly RSI to the upside which indicated momentum was gaining. This was further confirmed by the MACD curling to the upside. The price continued to move until finding hard resistance at the purple trendline above.
Change since StockTwits Post: 4%+ within one day.
Technical Reasoning: This was a setup that had decreasing price action but higher lows on the RSI and Williams %R, also known as positive divergence. After moving up huge within 2 days, this continued to move up and acted printed over $4… Another crazy mover this fall!
Change since StockTwits Post: Over 25% within two days.
Technical Reasoning: After bouncing hard off the SMA (20) and trendline support shown by the green trendline, the price bounced hard to find resistance right below the EMA (50) which was around $1.32 at the time.
Change since StockTwits Post: 10%+ within one day.
Technical Reasoning: After trading right along the channel resistance found by the TrendSpider automated charting platform, the price moved down hard and broke through all support levels below and ended up bottoming out around $78 before reversing hard to test the $90s above. Click here to watch our recent airline stock recap on the “TrendSpider Thursday Analysis” and see the platform in action!
Change since StockTwits Post: -10%+ within a month.
Technical Reasoning: After a massive move up from the $.50s, the price started to breakout through one of the main trendlines found on the TrendSpider chart around $1.75 and through all Fibonacci levels before topping out around $3.70. This was one of the crazier ones to watch this fall as the price action really didn’t make a whole lot of sense at the end of the day.
Change since StockTwits Post: 55% within one day.
Technical Reasoning: As the price of INO was in a cup and handle type formation with the daily RSI and %R crossing through the weeklies, the wedge resistance was broken and the price moved quickly to $6 from the mid $5s.
Change since StockTwits Post: 7%+ within eight days.
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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.