Market Update For $TWTR & $WFC
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Last week we looked at Twitter and Wells Fargo Stocks there is not much surprise here. Price did exactly what we expected. See last weeks prediction video HERE:
Twitter moved down from weekly supply zone to weekly demand zone. As the big institutions pushed this move during the overnight session causing large daily gaps for the majority of the move. APA Zones kept us from being on the wrong side of the move.
Looking at Wells Fargo: The move from supply zone at 45.19 down to 43.40 is still underway and expecting for it to complete this week. So while we did make a new low last week we are looking for the trend to the downside to continue based on price action and APA Elite software.
On Tenet HealthCare(THC), we are retesting weekly demand from 2012 at $20.40. We are in a downtrend and I’m looking at price finding resistance at the daily supply zone at 21.96 or 23.75 and continue down. Lets not assume the trend is over until price says it is over.
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Traders spend tens of thousands of dollars on education trying to learn the answer to the million dollar question…where is actual supply and demand? Once you know where these levels ACTUALLY are you must be able to locate them the exact same way every time to have consistent trades. This is what veteran traders do.
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