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- Last Update: 13 May 2022, 9:53
ADBE is very extended on the daily and weekly chart but in a strong uptrend. I am waiting for a pullback to previous support before entering.
This chart pattern could be considered a cup and handle or an inverse head and shoulders. Either one you chose, AMBA is breaking out above the resistance line.
AMZN had a strong break above a large ascending triangle. This could be a big move considering the base was fairly long (1 year).
ATVI broke above the Ichimoku cloud resistance and the cloud turned to green which confirms a bullish uptrend. The 50 period MA is setting up to cross the 200 MA. I think this one will reach the prior highs.
Resistance turned to support for BABA. Holding strong so far. This is also an ascending triangle breakout.
BDX had a strong break above the ascending triangle but then plunged because it guided lower but it did beat earnings on top and bottom. It rebounded on strong volume is showing support and the pattern appears to be intact. Technically, it is still breaking out but it will be interesting to see if it holds support.
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