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First of the week! Let’s review some names:
Applovin Corporation (NASDAQ: APP)
APP rejected off its 1.618 Fib extension at 670.09 and has since fallen back into its long-term dark green support trendline. Holding this trend is key for any upside continuation.
If APP reclaims 397.92 next week, it could retest the H2 2024 prior ATH of 417.65. APP still needs to break above the 2 resistance trendlines, and most notably the uppermost ATH resistance trendline for a chance of retesting ATHs.
Otherwise, if APP loses its support trendline, it could retrace deeper into the 330.22 Fib level next.
Note that the monthly chart, as things stands, could potentially form a bearish stochastic crossover which, in some cases, could possibly result in a deeper correction. Bulls will likely be keen to avoid a structural breakdown here.
The support trendline will likely be a key battleground for both sides.
Corsair Gaming, Inc. (NASDAQ: CRSR)
CRSR has been consolidating and forming lower lows in this yellow descending channel for the past 6 years.
It managed to defend its 2024 prior ATL at 5.60 following a surprise earnings beat, but closed below the secondary red resistance trendline. A weekly bullish divergence on RSI is playing out, while the weekly stochastic just formed a bullish crossover following this week's explosive price action.
Should CRSR break out of its yellow channel and above the 8.21 quarterly level, it could see a reversion back into the 10s.
Datadog, Inc. (NASDAQ: DDOG)
DDOG is consolidating in an equal highs and higher low pattern. It formed a new ATH late last year before trading in a descending channel consolidation pattern back into half-yearly support at 104-107.
It closed the week at channel resistance. If the 133.93 Fib level is breached and holds next week, then DDOG could see further upside into the 146-152 monthly imbalance next.
Otherwise, DDOG could come back into the 115 monthly level.
Note that there's a bullish divergence on daily RSI and a bullish weekly stochastic crossover. However, the monthly chart is trying not to form a bearish stochastic crossover at the end of the month.
For the time being, bulls and bears are locked in a war of attrition.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$AppLovin Corporation(APP)$ $Corsair Gaming, Inc.(CRSR)$ $Datadog(DDOG)$ $Apple(AAPL)$ $Meta Platforms, Inc.(META)$
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