Looking at the charts, the amount of pennants that I am seeing right now is unreal. Typically they are continuation patterns, but with most these names reporting this week that's definitely a wild card. Mark my words; we are going to see some monster moves this week.
A thread..
$AMZN With an insane "face ripper" move recently, once it broke above 2000 it was off to the races. Fresh all time highs and no resistance above. Reports 4/30 after the bell.
$TSLA Same story, once it broke above 550 there was no stopping it. Now getting so tight it looks like it is going to explode. All time highs within reach. Reports 4/29 after the bell.
$SHOP Another crowd pleaser, the strength in this name has been insane ever since it broke above the recent downtrend line that started in Feb. This one may already be preparing for the next leg higher.. Reports next week on 5/6
$NFLX Another giant mover recently after breaking out from a multi year resistance level of 385. Earnings last week were a flop now just consolidating and looking like it's weighing another leg higher. "The bigger the base.." ..you know the rest.
$ROKU Has had slow consistent selling pressure and been in meltdown mode until management pre-announced a 50% boost in streaming hours and an addition of 3 million users so far this year. That woke the stock up and it's been gaining ever since. Reports next week on 5/7
$AMD Breakout above 50 was the confirmation of the inverse head and shoulders pattern. Long term chart for this name is insane, from $60 to $2 now back near $60. Reports earnings 4/28 after the bell.
$NVDA Showing another potential inverse head and shoulders, or an epic double top of it fails here. Either way getting extremely tight, just like every name in this thread. Reports next month 4/21
$MSFT Last but not least, this tech giant and wall street darling potentially showing a small breakout to the upside and confirming the continuation pattern these pennants imply. Reports 4/29 after the bell.
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