The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (75907)	12/22/2024 6:03:05 PM
From: Magnatizer	Read Replies (1) of 79296

QMCO has quite a bit of data, multiple splits and a ton of overhead to work through before it even sets a MIM. Going to skip it or now. Might to the weekly on it IONQ Before I even draw a CCI trendline I'd like to note the freaking wiggle on this thing. Not sure I've seen 7 signals in 3 months before. That said, now the CCI has failed to regain +200 so it has negative divergence through all of the move since the end of Nov tradingview.com Broad view tradingview.com Key areas Upper 9s to mid 12s contain 6 tline cross horizontal channels. 2 of which were recently formed and never fully tested. The balance provided many great battle grounds, red elipses: tradingview.com Interestingly this last move up just ran right through that zone. Entered the zone Oct 10, took a VERY minor pause for a few cross bars then rocketed out of that zone heading north tradingview.com This looks a bit like SOUN's current formation, FWIW Currently it's coming off a retest of a cross horizontal and using the plethora of uptrends from the 7x wiggle as supports. I missed the buy zone which would have been the retest of the cross horizontal. If it does retest this horizontal I'd now expect the top support to fail and look at the bottom for an entry. Overhead is a key uptrend who's initial formation created quite a few battles which the bears ultimately won as noted with the blue rectangle here tradingview.com Here is the current chart with the blue rectangle outlining that uptrend channel. low 46s is the current bottom with lower 60s the top. tradingview.com There is one more interesting uptrend channel. Formed in the same time zone as the one I just covered but it was immediately lost after formation. What make it interesting is the last gasp IONQ made in that upmove (Sept23) it sniffed the bottom of this zone and repelled quickly. The bears were anxious to defend it, I suspect they'll do the same if it's seen again. Current value Mid 70s (bottom) to mid/upper 80s (top) tradingview.com

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