Beam Therapeutics $BEAM can’t close above its descending weekly moving average resistance band.
The ascending MA support cluster closes in from below.
Spotify Technology $SPOT further compresses under its descending weekly moving average resistance band.
A big move may be in the cards very soon.
Resistance: 25/26/28-week SMAs @ $485.38-$491.19
SPOT @ $479.77
Support: 175/196-week EMAs @ $420.71-$436.62
eToro Group $ETOR could not close above its weekly MA resistance band. Price set slightly below its ascending support band.
Price, however, is still above the once-resistance-now-support 16/18w EMAs.
Adding an updated chart with fresh MA lines:
R: 47/58w EMAs
S: 9w EMA/14w SMA
In case SolarEdge Technologies $SEDG breaks below $50, it’s good to know where its best respected weekly moving average support triad is.
SEDG @ $55.18
Support: 36/38/42-week SMAs @ $42.17-$43.02
Gorilla Technology Group $GRRR bounces elegantly off its ascending daily moving average support triad.
The weekly MA support cluster carries price up nice and slowly, potentially into the descending resistance band.
A ‘meeting’ may be coming.
Look at this beauty.
Jumia Technologies $JMIA continues tightening while respecting its weekly moving average support and resistance clusters.
The description from last week’s post still applies.
A wild move may be brewing.
Teck Resources $TECK bounces off its daily moving average support triad right into resistance.
If the last 2 times that happened before in the past year, price broke above resistance and soared.
Let’s watch if the pattern repeats for a 3rd time.
If D-Wave Quantum $QBTS breaks below $20, market participants may start buying at the weekly moving average support cluster area (85/88/95-week SMAs) @ $15.84-$17.55, as happened in the past.
Watch the MA resistance triad as well (5/6/7-week SMAs @ $22.69-$23.92) for a reversal.
Has TeraWulf $WULF revisits its daily moving average support once again and ends the week above it.
So far the pullback is perfectly normal.
WULF @ $21.97
First support band: 122/138-day EMAs & 396-day SMA @ $11.16-$20.36
Lam Research $LRCX reports earnings in two and a half weeks (July 29) AMC.
Good to know where its daily moving average support band is.
LRCX @ $350.33
Support: 100/104-day EMAs @ $291.97-$294.56
Last week’s volatility did not throw Rivian Automotive $RIVN outside the range of its weekly moving average support and resistance clusters.
Note these clusters converge. Price may keep ping-ponging for a while.
Rocket Lab $RKLB touched the upper line (40-week SMA) of its weekly moving average support band before bouncing.
On the daily, it hasn’t touched the MA support band.
