Post-earnings reaction: $NVDA $CRWD $AFRM $CRM $OKTA

NVDA [Music] well everybody I'm kenton's cat everybody Kenton cat here on Monday I came out video talking about Nvidia as well as a few other stocks that pretty big exposures to it just had its earnings and the earnings were great um you remember on Monday I was saying that I had a hard time really seeing things being pushed way too far because we're simply on the monthly just overextend still a little bit um and we basically just spend the last couple months just going sideways cuz R candle just closed way outside the upper b band on the monthly chart and we generally have something like this uh you actually need some TI kind of cool down it doesn't really matter how bullish the earnings were it really doesn't matter we're not going to keep doing you know stock BuyBacks it it none of these things matter technical matters when it comes to things are just way overextended and really what you're seeing here is the top part was really like around 131 or so I really have a hard time seeing month early Clos at or about the upper Ballo in Japan and there was a huge imply volatility before earnings for NVIDIA so I really thought that Nvidia is probably going to go back down and then probably to end up closing above back above somewhere around where the price was today went it close that's my most likely scenario and uh you know sure enough um right now is kind of finding support where it needs to find I'm going to show a little bit in terms of where I think the support is going to be underneath um but I really do think that most likely we're going to just in a Range bound maybe even for a little bit longer for another month or two for NV media that's entirely possible at this point on a higher time frame because prize is just kind of sideways for about 3 months now it really does remind me of some of the previous prize action kind of like how it was over here from September to November 2020 it really does remind me from uh the prize section around December 2016 to maybe around February 2016 we might have a little bit longer sideways to go here we might have a little bit long longer sideways to go here just like we might have a little bit longer sideways to go here just to kind of cool down a very very big parabolic move right and at this point I really do think that the Binger band the low buing band had stopped to expand I keep talking about this over and over and the little B B really stopped to expand around J 2017 and which is basically the the start of this you know sideways Trend over here and whenever you have Bing contraction that's usually mean that the TR starting to get exhausted you might make another like 2 3 or 4 x but you're not going to make another 10 x right same thing over here I think BL Japan stopped expanding around September 2020 and that really is when the trend starts to get exhausted you might make another like two 3 4X but generally that's going to be a little bit of a TR exhaustion there right when you have a bulling band contraction and so far we have this sideways action here for about 3 months and so far the bulling band is starting to contract right so that does tell me hey maybe we're going to be hitting a little bit of uh um train exhaustion maybe we make another two three 4 eggs maybe it gets up to maybe like 400 or something like that and I think that's probably going to be it for the cycle we're probably end up having a pretty significant correction but that might not happen for another like 12 to 18 months you know based on every single cycle and it this kind of happen I think we might be like around like the mid point of the pool cycle and money is probably end up having to rotate through other assets here too but um incredible company but the technical unfortunately is just um is not going to just keep going up you know without pausing without having a little bit of trans exhaustion without having a little bit of cool down just because that's just generally how Cycles go even though the fundamentals the valuation of the metrics actually with supported be to go up higher but you actually don't want it to go up you know mooning like that you actually want they to take a step maybe make another 2 three 4X and then you know that that's actually not amount a bad amount of gains here uh the other thing I was also thinking about really don't think that project is going to end up shooting up with this earning is because you look at the um ichimoku Cloud analysis you see it just kind of back as the tanken it's still a little bit too far away from the tanken I don't like it to be too far away from tanken because if it is then you are still at risk to you know having a little bit more correction so I think that the tanket over here until it's able to you know go up to match prize is probably going to surf as a little bit of a magnet here for priz not be able to go off that much further and sure enough like if you look at the price right now we had A7 - 7 - 8% um post post earnings it looks it sounds scary right but not really I mean like price was down to like the 90 um Range around here um just earlier this month so this is actually like this vola is actually nothing compared to that so um as far as I'm concerned I still believe in bullish continuation but you might end up having a little bit more sideways and I think there's going to be some rotation too um from these large cap stock like Invidia that's just made of tanic maybe over to a lot of these underperforming stocks like fintech um like the small cap stocks or even may I say it you know may I dare say it even potentially Bitcoin miners there might be some rotation that could happen um from from these kinds of things that I'm kind of eyeing here now if you ask me where where where the support level is going to be I think the best thing to look at is probably going to be looking at the um weekly chart here in terms of uh where you could potentially find support well you look at the super Ichi Cloud you're going to have some support here around 116 which is currently where prize is kind of around right now for those earnings so that that could potentially be a support level it could potentially go down a lot lower though right for example it could go down to some of the lower levels over here the tank is around 113 the kitchen is around 108 so those are some you know potential levels where to go down the BL support bands also right underneath around like 110 111 somewhere around there so you still have plenty of these kinds of support levels underneath so even if it goes down like I really do think that you're going to end up finding support here I think this is like the big move with vix going to like R in 60 I don't think this is going to be easily replicable um and we probably going trying support anywhere from the current prize over here all the way down to maybe 110 and 108 somewhere around there it's probably going to be a slow as a media goes and the closer it gets to some of the levels down here the better R reward ratio I think it's going to be but yeah uh that's kind of where I'm seeing here for NVIDIA and if you are talking about um another way to kind of look in terms of where you think support levels going to be you look at daily chart right now price is kind of right around the 20-day moving average so basically it just kind of went way too far way too fast for like you know 12 days in a row and it's got a little bit of rolling Overlook you know little to like maybe a little bit of a distribution here for a short-term run here going back down to um retrace back to the mean um before you know further bullish continuation right now all I I got to say this if it hits the lower Ballo Band hits the upper Ballo band and retrace back to the mean here at the 20-day and it bounced from the current area and it keeps on bouncing up that's a very very bullish setup I I I generally love these kinds of setup where if it hits the lower bulling ja van upper bulling ja van and then retrace back to to the 20 that could potentially set explosive move coming up right so I'm actually not bearish at all based on priz action um could it go down potentially further sure it can right but you know I already told you if it gets down to um 110 to mod8 range that to me would be a pretty decent uh risk reward ratio over there so that's kind of what I'm seeing with inv viia um I don't have too much else to to say about that I want to talk about go stocks that have just gone through earnings today the CR strike which um has been capturing a lot of people's imagination in terms of the volatility that it was bringing with CRWD this big giant red candle for the month of July just because of some you know fundamental questions about their company um because of you know some update that didn't really work out for them now all I got to say is technically speaking I think this down move is not unexpected because things have just kind of gone way too far way too fast if anything you've gotten through like this also look at actually a very very beautiful five waves here 1 2 3 4 five and I think downtrend is kind of more or less completely expected it's just that this candle over here is just absolutely brutal and it really caught a lot of people off guard because of how bullish this stock has been right now do I think that it's probably going to end up going further down probably not I think that the round the price 200 is probably going to be the bottom I do not think that it's going to end up making another like three wve down like that uh I think that that's probably going to be bottom because of a few reasons one is if you look at the ichimoku cloud you have the leading span a here this is like the immature cloud the cloud hasn't really been formed yet but it's basically bouncing right off of the the peak right there of the uh monthly Cloud right it's also bounce off a very very strong volume support Zone and I have a hard time really seeing it go really punching through to like the 100 so I really have a hard time seeing that but right now um it's got a very strong support Zone over here but right now it's also hitting some pretty strong resistance here right the strong resistance you're talking about is going to be around like 250 to around 270 very strong resistance both on volume shell it's just basically have to range bound here maybe a little bit before breaking out um but yeah very strong resistance here I'm going to show you in terms of why I think it's strong resistance here a little bit you're also seeing some resistance over here on the seichi Kon on the red line right here got got rejected right there and if you also look at the weekly chart you can also see that the subii cloud has been serving as some pretty strong resistance here initially kind of stuck in range between the sub Cloud the kidon and the tanken and right now we're kind of broken underneath of that here um I do think that around the the volume shelf over here the bottom of volume shelf over here around like 250 is going to be you know some pretty decent um support here if it breaks down a very strong support zone is going to be around like two um 30s somewhere up there is going to be pretty you know pretty strong support level why do I say that well if you look at the ichim moku cloud the bottom of the weekly cloud is going to be around 240 and it could potentially wake down to like the the High 230s potentially and that would be a very strong support zone right there I think there's a high probability that it might end up going down further just because with this big joh down move over here in high volume we have a little tiny move over here it got rejected here again that's another area of uh resistance right got rejected over here on relatively low volume right so I can totally see it kind of retracing back down to like 240 or even 230s to kind of cool down this uh 3-we up kind of thing on relatively low volume so yeah it it is what it is is unfortunate I'm going to go back to the monthly here I'm also going to tell you as to why I think that the stock is still bullish because on the bulling band is still basically just hit the 20 month moving average and it bounced up right so I think the 20 month moving average over time is going to end up keep pushing price up higher and you might end up kind of get stuck inside a range um you know between uh maybe like 230s to maybe two 50s 260s 270s for a little bit until the 20 mon M average catch up and maybe eventually it's going to push price up through this um resistance Zone over here and allow price to go higher over time that's kind of how looking at it earnings um really weren't that bad to be honest um so that's kind of what I'm seeing with with Crow stri now I also can totally see let's actually Bing ja band here doesn't really tell me anything here on the um weekly here but on the daily I can totally see prize going back down to 250 right which is going to be the daily the 20-day moving averag is just pointing up they could over shoot down here a little bit to like the 240 and 230s but I you remember how I said I like the combo lower Bing upper Bing band retracing back to the mean it able it was able to find like some kind of support here at the mean I think that could build up you know some pretty bullish move over the next you know several months to like a year or so um but yeah so far um Crow stri is probably going to require a little bit of patience here I don't think just going to necessarily make a vshape recovery just cuz it's hitting some resistance um from multiple sents you know you're talking about the the um suichi um kitchen you're talking about the weekly suichi Cloud you're talking about the weekly ichimoku Cloud on the top of the cloud here you're talking about a big chin volume shelf right so you're going to have to take some time to kind of correct this move and and that's okay there's nothing wrong with it um after made a big down move like that there was a lot of technical damage damage has been done and it bounce where it needed to bounce and it's do need to work up some stuff and it might get boring here for a little bit but that's okay then that's Crow strike for you the next one um I actually have a stake in AFRM his stock and I've actually been dcing um into this stock and so far it looks like it might finally be working out this brutal downtrend for about like 8 months has been absolutely brutal on like no volume at all and I basically just think the lower it goes and I don't know where it's going to go like could it bounce at this level around 30 possible could it bounce from a lower level possible could it bounce right here around like 25 possible price made the way down to like 22 on this big giant you know nasty um down move over here on like no volume at all um and this down basically is like very very non-committal ni saying though we have a little bit of a very very nice reversal pattern here it's just the three white soldiers and um so far initially I was worried that hey maybe the tr's a little bit exhausted but the volume is not really telling you that but volume tells that hey maybe there's some juice left here for a firm because the down ballum has like nothing right so I think there's a lot of accumulation by whales behind the scene and you can see every single time where there's a little bit of a you know buying pressure here a very very nice volume here so I think Wells have been really kind of buying behind the scene here and you have three white Soldier really signifying probably a trend reversal with earnings kind gone up for about like 15% I mean granted this is a firm it could just be a Pitch Wick and then just go all the way down but so far you have three white soldiers it favors for the bullish continuation and it could be working out so far right um couple other things to look at a firm if you're looking at it's underneath a lot of resistance so I can totally see it being like awake and then it just kind of breaks back down to like 20 34.5 to kind of close the week it can totally close back down to like 34.8 you know at the upper bll inch B there to close the week and um you know it can totally um just end up um you know retracing back down here a little bit right the ichim cloud says there's a little bit more room to kind go up and it's nice to kind of went inside a cloud back test of the cloud and with great earnings um really you know beat expectation it can go up a little bit higher but I just think that Weekly probably end up leaving a little bit of a wake up above because I think we simply have just kind of made a very very big move and uh you're going to hit like some pretty strong resistance up above I would like to see it hit the resistance and just kind of go sideways down a little bit maybe back to 30 wait for the 20we moving average and kind of flatten back test that and then the next move could you know could be very powerful maybe by the end of the year to early next year that's kind of where I'm seeing a firm uh I don't expect anything to happen quite just yet I do expect at some point it's going to probably end up retracing back down and it's going to probably end up testing the bler support band on the way up and uh you know we'll see when that happens I don't know exactly you know it could even back test the bottom of cloud here again eventually before the next move up I can totally see that happening but regardless I think like to me I think anything that's under like $35 I I would love to buy more um now that it's like you know post uh Market hours is like 36 point something it's a little bit too risky based on what I'm seeing you from the technicals I think we're hitting some you know pretty strong resistance so I probably won't buy anymore but it retrace back down to like the low 30s I think that would be a good you know um maybe possibly Last Chance opportunity to accumulate and that's kind of how I see a firm and even on the monthly um chart here there's really nothing bearish about it the 20-month moving average just got back tested and is rising and all this downtrend here is on low volume if bounce where it needed to bounce here on the volume shelf there's really nothing bearish about this chart like superi sure y resistance maybe we're going to get back over over this you know over next upcoming months or so the um ichimoku CL out here we have claimed the um the kitchen and I think the tank and up here the Blue Line's going to be a little bit of resistance so it's probably going to take sometime range bound here for a little bit before breaking out I can totally see that if it goes back down I don't think it's going to go back down to like the the mid-20s or low 20s anymore I think the the this ship is probably sailed if it does great I'll keep accumulating I mean like this is a very nice chart it's I've been bullish really ever since like April I I mean I don't know like it's been just going down low volume but hey whatever like the more I accumulate on low volume going down the better risk reward so um yeah I'm just going to buy whenever your pre going down underneath like 35 again especially it goes down to low 30s I think it' be a good buying CRM opportunity another one that has um earnings after hour is um Salesforce actually Salesforce has been um pretty bullish um in terms of what had happened I'm going to show you as to what I mean by that just look at the monthly chart here we put the ichimoku cloud it bounced from where it needed to Bounce It basically just went to the ichoku cloud bounce and it back test each mile Cloud when vix went up to like you know 60 and above right and there's really not a whole lot of volume and they really tested a lot of support U support a lot of demand underneath so far is getting a little bit rejected or intending good now to post after earnings I don't see prize closing above 10 can probably for the end of the month if it does that would be great that'll be a very bullish development um but I can still see kind of range Range found here a little bit right now it's at the top of the range Until It Breaks and close the month above the tank in here for good anding it's going to be around 265.0 6 until it really close about the month there um I'm still a little bit skeptical in terms of whether or not is broken above the range so so far I'm just going to treat that this at the top of range right there but I do think that around um this Wick over here around this candle over here around 212 that was probably the bottom good going to show you a couple other things here too like if you look at the um subishi Cloud let me see yeah I thought I saw something there but never mind same thing here with subich Cloud just went through and then found support right right now it's stuck in a Range here in subich so I think that it's probably going to end up you know needing some additional time but the one thing that's very striking is that it keeps on finding support here the 20- Monon moving average and short my moving average is pointing up so it really tells us that the the move is probably going end up you know going up higher over time and that's kind of also what earnings was saying too and also a very interesting thing is that it bounc at the volume shelf right here where where it's supposed to bounce it and uh so far I see more signs most likely um for the bullish continuation for Salesforce I really don't see it you know getting down that much further anymore but it has to kind of break about the the current range which is going to be around like 270s it was able to break about 270s for good um maybe even up here like in the mid 270s if it breaks about this range over here for good then you're talking about price going back to like the 300 um which was going to be you know double testing this High over here to see how it got rechecked where it got rechecked here in the previous all-time high none of these things are surprising overall this is just a big giant cup and this is the handle for it and uh we're going to slowly kind of break back above over next coming like 6 to 12 months um to see whether or not in 6 to 12 months we can break about this alltime high and go higher this this is a still a very bullish chart for me as far as I'm concerned so um one last one I want to OKTA talk about and I'm going to end the video here this stock Oka also had his earnings today and the bottom line is this is um definitely you know a little bit of a lagging but is channeling up right a little bit of a lagging stock here but is channeling up is finding support where need to find support at um it's uh right here in this big CH volume shelf over here after hours it to go down and where did it go down to at this Vol shelf over here so it's finding support is channeling up and there's nothing to really say that this chart is particularly bearish or anything like that um yeah so I think Oka is probably to do end up doing pretty well it's finding support here at the 20mon moving average where supposed to If you're looking at the um ishim moku you can see like initially it reclaimed the tank and back test the Kion almost perfectly right now it's kind of prising I get back underneath the tanket here we went close to month you a little bit below tanken or not close the month a little bit above if it Clos the month above the tanken here on the monthly which is going to be around 90.8 to that would be a pretty bullish development for the stock because it's a nice Hammer candle that generally signify it probably has bottomed and if that's the case then the next um half a year or so it's probably end up Cloud up here going back to the triple digits after is able to break about um you know the 11 Zone it could hit like the 130s 140s here at the bottom of the cloud over here and that's going to be some pretty strong resistance confluent with confluent with this resistance Zone over here at the um volume shelf so there are quite a few things to um to kind of think about here on this chart basically all it did is um kind of have like a very very nice um Zone over here resistance broke through back test pass right so generally these things should give you some um pretty nice um bullish continuation it did end up kind of reclaiming the uh the 20 we moving average here the price has kind of gone um sideways for a very very long time but this is still bu building a relatively bullish structure so I still think that most likely OCTA is going to have some bullish continuation here after had to back test on the um level over here looks like want to back test this um horizontal Zone up here one more time and this is going to be some you know very very strong support here so yeah um that's kind of what I'm seeing here with OA if you look at the um isimu Cloud um you can see that you know currently um prize looks like it wants to back test the bottom of the cloud and bottom of the Cloud's going to be around like what is it around 89.7 s and that could be where price would end up SE off the bottom of the cloud hose which is going to be confluent with this volum shelf over here um yeah and and there's nothing really that bearish about it it's just going sideways um but I think that is important to think about this as a strong resistance Zone over here and now back testing as some you know pretty decent support so um yeah not a bearish chart um but it might take a little bit longer to kind of break back above the 110 range up here that that's going to be resistance again so if it finds support down here around like 89 or 90 it's going to probably end up being range bound here between 90 to um to 110 before further notice so that is the the last stock that I want to talk about the head earnings today anyway thank you so much for listening have a good bye