Member Kudos Over Recent Calls
by Mike Paulenoff
August 28, 2022 • 12:00 AM EDT
Mike Paulenoff called this past week's sell-off in AAPL ... and the market in general.
On Thursday Aug 18, with AAPL at 173.84, Mike told his MPTrader members: "I am in the 'camp' expecting the latter downside scenario, notwithstanding The Street's newfound love affair with the company."
The next day, he wrote: "AAPL is pressing on key initial support at 171.60/90, which if violated will point to 168-166 next [and] put downward pressure on SPX, SPY, ES."
He updated his downside target to 164.80-162.80 this past Monday, Aug 22, after AAPL broke key support, and by week's end AAPL closed at 163.62, but weakened further in after-market trading to 162.47.
MPTraders members expressed their appreciation for this and other of Mike's recent calls.
"That's some really, really great charting Mike. Fabulous work this week," wrote member FJB.
"Super charts Mike, singlehandedly kept me out of any deep trouble this week. Thank you!" added Mary.
Member ksim summed it up: "Not only kept me out of trouble for the last 6 weeks, but I have made enough money, playing both long and short, to keep my membership for the next 500+ years! Thank you very much for the great guidance."
We invite you to join Mike's Live Trading Room at MPTrader and see how his calls might benefit your trading!
A 40+ year veteran Wall Street technical strategist, Mike hosts an interactive, real-time discussion forum to help traders & investors evaluate and navigate markets, opportunities, and potential hazards in an increasingly challenging financial landscape.
Back on December 30, one of our MPTrader members (FJB) posted a comment that focused on the name ChargePoint Holdings (CHPT), the day after the CEO purchased 1.4 million shares at 8.28 in a show of confidence in his company's future. Within an hour of FJB's introduction of CHPT into our discussion forum, Mike Paulenoff posted his chart analysis.
This past Wednesday Jan 18, TSLA hit a recovery rally high at 137.50, nearly 36% above its multi-year bear phase low at 101.20 on Jan 6, and nearly 26% above the price TSLA was trading at on that same morning when Mike Paulenoff posted the following Coverage List heads-up to MPTrader members:"TSLA's new corrective low at 101.20 this AM looks like it ended the most recent downmove from 114.
Back on December 9, Mike Paulenoff alerted MPTrader members to the ongoing climb in XME (SP Metals and Mining ETF), and the potential for a much larger up-move based on his technical setup work, writing:"My attached Daily Chart spanning back to the Pandemic Low at 13.86 to the April 2022 high at 66.63 argues that all of the action for the past 6 months can be construed as an accumulation period and pattern in the aftermath of a significant 50% correction of the bull phase.
On November 7, exactly eight weeks ago, Mike Paulenoff posted the following heads-up to MPTrader members concerning a potentially opportunistic technical setup in BA (Boeing).
Last Monday morning (12/12/22), with TSLA reeling to the downside from suspected -- and later confirmed -- major sales of stock by Elon Musk likely to finance ongoing operations of TWTR, Mike Paulenoff posted the following cautionary analysis for MPTrader members:TSLA is pressing toward a full-fledged test of its 11/22 low at 165.