Some interesting August charts revisited

Here are a few interesting charts that I had posted on Twitter & StockTwits during early August:

Ripple XRP (Aug 8 chart): And you know where it exactly went!! (below 22 cents)

ChartStorm XRP

Ethereum ETH (Aug 8 chart): “Expect $100 drop” & ETH dropped 102 to hit a low of 257

ChartStorm ETH.PNG

Bitcoin BTC (Aug 7 chart): Went from 7000 to the “potential 6000” and then bounced. Now waiting to see if it can break above the upper Trend Line Resistance

Chartstorm BTC

Semi-conductors SMH (Aug 7 chart). It is getting close to that trend line Resistance now

ChartStorm SMH

AVGO (Aug 7 chart): Hanging in there. I still have a high conviction on that 160 target

Chartstorm AVGO

TWTR (Aug 8 chart): Bearish as long as it stays below 36.

ChartStorm TWTR

BABA (Aug 8 chart): Did touch the 165-166 support zone as expected and then bounced to 180. Now we can expect another test of 166 if the tariff talks with China end in stalemate.

ChartStorm BABA.PNG

TSLA (Aug 7 chart): Broke above 360 only because of that popular (or notorious?) “Funding Secured” tweet but now it has broken below the 50 WEEK MA and even below $300 (currently down 23% from the post-tweet high of 387).

ChartStorm TSLA

Current forecast for TSLA: Still bearish.. Could test the 265-270 zone very soon (see the Aug 30 chart below) and if the trend line breaks, possibly will go to 220-240

TSLA Aug 30.PNG

About Venkat Pulakkad

Entrepreneur, management consultant, blogger & forecaster. Founder of Flourish Research Media that provides insights on markets, trading strategies & risk management. Currently an active trader with 20+ years of experience trading Forex, Stocks & Options. Areas of interest: Trend / Swing trading, Macro-tech analysis, building trading strategies, deploying Risk Management techniques, and helping / coaching traders to become successful traders. Twitter link: https://twitter.com/Flourish_Venkat

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