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Today’s newsletter will cover the following stocks:
Bilibili Inc. (NASDAQ: BILI)
BILI is resting on the monthly support at 19. The only concerning thing about this chart for now is the bearish SKDJ crossover, which could signal downside ahead if it is unable to hold its monthly support.
The weekly timeframe shows BILI with a series of higher highs and higher lows since 2024, with a short-term support trendline (in dark blue).
The daily timeframe shows BILI in a short-term inverse head and shoulders consolidation pattern, and a near-term falling wedge pattern into monthly support on fairly low volume. BILI needs to hold this structure to see a longer-term retracement back into the 28.43 daily bearish imbalance and the 33.78 quarterly bearish imbalance over the next few weeks and months.
If BILI loses 19, then it could push back into the blue support trendline. The support levels are at 18.60, 18.10 (quarterly bullish imbalance) and 17.78 (daily bullish imbalance). Below these imbalances, the risk-to-reward weakens for bulls and strengthens for bears, who can then play the structural breakdown into lower supports.
Oscar Health, Inc. (NYSE: OSCR)
OSCR is currently bound by the new resistance trendline (in red) with prior rejection at 22.56. Interestingly enough, it filled the quarterly bearish imbalance at 21.58-22.56 and then pushed lower. It is still playing out the bearish SKDJ crossover from several months ago.
OSCR weekly timeframe shows a structural breakdown of the green support trendline that has held since 2023. If you’ve been following my posts for the past few months, I’ve continually emphasised that a structural breakdown is usually not good news for bulls. Given the fresh bearish SKDJ crossover on the weekly, it could now capitulate lower below the weekly imbalance support at 12.43 to fill the imbalance at 11.52. In the long-term, it could head as low as 9.37 to attempt a resistance-to-support flip, but if that does not hold then the stock is in deep trouble.
Ultimately, if OSCR is unable to reclaim the series of resistances from 18.89 and higher, and is unable to break out from the red resistance trendline, the chances of OSCR making new ATHs is highly unlikely.
U.S. Global Jets ETF (NYSEARCA: JETS)
JETS is an ETF comprising several stocks which I’ve charted before - namely DAL and AAL. I’ve been watching it closely as a sign of consumer purchasing power and their willingness to spend on discretionary travel.
It has been trading in a descending channel pattern with a series of lower highs and lower lows, having not made a new ATH since 2018. The key level I’m watching to the upside is the 27.69 weekly bearish imbalance and a breakout above channel resistance.
Until then, the focus is on whether JETS can successfully hold its 21.10 monthly support. A breakdown of this level could see a retest of 19.89 bullish monthly imbalance.
If JETS loses the short-term ascending channel (in dark green), the risk-to-reward weakens for bulls and strengthens for bears, which could see a deeper move into the 17.50 monthly support.
$Oscar Health, Inc.(OSCR)$ $Bilibili Inc.(BILI)$ $U.S. Global Jets ETF(JETS)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$ $GameStop(GME)$
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
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