Friday came a little too fast this week for me. Short week, and I’ve missed it. Monday can’t come soon enough.

Today the “carnage” that was the red of yesterday saw a bounce. Heatmaps today painted with green.

$AMD caught my eye first. Spotted it last night actually, looking through some option flows from the last few days.

https://twitter.com/TraderMentality/status/883300035948978176

$PAY is one that looks great. We’re at the .618 retracement on the daily. The chart forms a falling wedge showing some positive divergence. Additionally, the .618 level has held multiple times, and allow a level of support for form near the current price. After today, this almost looks to be forming a complicated inverse head and shoulders at the break of this wedge. POC @ in lower 18s.

https://twitter.com/TraderMentality/status/883300758443053057

$LPL had some heavy put action goin on. Checked it out on the weekly, and voila! A huge coil that’s taking shape.  And though I’m zoomed pretty far out in the tweet, I’ve posted a chart below to show the revdown on the weekly

https://twitter.com/TraderMentality/status/883302361367666688

Looking closer at the same chart, you can see that we have a rev-down off the upper supply line of the wedge.

Revstrat Down

$FINL was also a nice find.  Great look that’s holding support at the .618 level on the weekly. Could be a great long term play if we see it reverse and break to the upside. Positive divergence notable on the RSI and MACD.

https://twitter.com/TraderMentality/status/883305836491046912

Spotted an ascending triangle or coil look (however you want to see it) on the $BABA daily in the middle of a breakout from the cup and handle. Could be the next push higher into the completion target of the pattern.

https://twitter.com/TraderMentality/status/883348941856686083

Jumped in some $TSLA calls again today, but a little too early. Stopped out pretty quick. Will wait for a better opportunity. I like the name long term despite $180 targets and noise from the public. I agree that there’s a massive religious style cult following of shareholders that may never sell just bc of Musk. While I also agree Musk is a genius, and should voted leader of the human race, still… never marry a stock.

That being said, I like it once wave 4 is in and we begin the ascent to wave 5. Aside from the elliott wave play, into a possible wave 4 low, caught a yearly chart posted today by @Robintheblack showing a nice revup from year to year with this year being the breakout candle.

Hope everyone has a great weekend! Subscribe for free if you want to receive a notification each time something new is published.

Today was a Good Day

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