Good afternoon everyone and welcome to
another ProCharts video. My name is Jake
Sweeney, pro trader here at Verified
Investing. And first off, before we even
dive into for today's video, I just want
to give this huge thank you to you guys,
my community so far that I've been
building over the past couple months.
Just getting into the our, you know, our
first year of trading live.
Um but my last video that I did, guys,
got um the most views I've ever got so
far. So I just want to, you know, thank
you guys so much for watching these. My
objective of these videos is to give you
guys key support and resistance levels
where I study, cuz I study technical
analysis and charts all day every day.
I'm trying to give you guys some alpha
where I think these stocks where price
is going to bounce in favor or or um,
you know, in favor of the buyer or
seller.
Um and then also developing patterns or
breakouts that's soon to become. And
collectively do that and just kind of,
you know, continue to help each other to
make money in the stock market. That's
the overall plan. So anyways, guys, got
a good one for you today. Let's dive
into it. We're going to be covering just
some stocks today. First one we got
going on is Target. Another great run up
since their earnings.
Um
they're now up
Since their earnings, they're up 12%.
Another 3% today. But overall what I
have on Target is I had this long-term
parallel channel that Target was trading
in. And then with this push here with
the catalyst coming up, price was
starting to push above the midline of
this trend line, which do act as
support. And as you see, price got a
bounce here and then sharply moved into
the top
upper boundary of this parallel channel
and hit it a few consecutive times and
broke through. And now we're
continuously pushing up. And now where
do we got to find resistance levels
where price is going to test as it's as
right now you can't see any resistance
here. So, we got to go back a few days,
a few weeks into 2024 to see where I
have some more resistance levels. So,
for Target right now it's at 17044.
Let's zoom in a touch more.
All right. So, right here 17047.
So, first there's this pivot top shelf
here at 17740.
Should find some resistance here. I
would kind of use this level as maybe a
day scalp. And then that's also lining
up with a Fibonacci one 0.5 retrace at
17621.
So, $1 range for a
day trade here is where I would short
Target. On a swing basis, I'm looking
for Let's zoom out so you could see
this.
This pivot top shelf here
um price got down with this above
structure and then buyers stepped in
before this level could get tested and
then pushed above. From here price gap
down hugely. And then as price tried to
revamp it as you see here, let's zoom
in. All these weeks here, one
two, three, four coming up into this
level and then getting shut down. So, on
a swing basis level, this 18117
should be major resistance for Target to
the upside. So, kind of two levels of
attack of how you want to play that
short there. So, currently having a nice
day. So far, I want you to test kind of
see this this uh candle body right here.
Moving over here also kind of lines up
um with these top of these candle bodies
and then the top of this parallel
channel.
If price don't should come down as it
should, you know, that's healthy for
these stocks. When it comes back down to
test this, look for support here as a
bounce. So, this treat this as a trend
line. So, price could, you know, kind of
loosen steam, some momentum,
uh cool down, and then get a bounce off
this
upper parallel channel. That would
happen around 162, 163,
kind of depending on as this is dynamic
going up. But, all right. That was
target. Got Next play looking at is
Tempest AI. Another great run just since
recent lows of late July and August,
we are up 70, 80% on Tempest AI. So, a
great run, but currently down 6% today.
As we see having a sharp move up,
gapping up, and then having a 3-day
surge up, you know, price buyers today
were they couldn't they couldn't hold
the the steam. So, they came down about
6%. Where I'm looking for support is
this wide-range red bar candle at 61.88.
And also, as you see here, price um
bounced off this level just on last
Thursday. So, look for this level as
near-term support. And then also, I have
this rising support trend line from this
pivot low getting plenty of hits.
And should this come into play, if this
support trend line breaks, look for this
support trend line anywhere from
56 to $60 to the upside for support for
Tempest AI.
For resistance,
um right now today, price got shut down
by this pivot. What I'm looking for um
tomorrow, this 74.83 dollar pivot could
be a nice fade level for a day trade
should price push up a little sharply
from this level.
There could be a 9, 10% move to the
upside, so definitely extended. On a
swing basis, I'm looking for this
wide-range red bar candle here at 80.40,
and then this gap fill 82.23. This would
be my fade zone on a long-term basis for
Tempest AI as it continues to grind.
All right.
GEV, now this is a this is more of a
longer-term play, but what's noticed to
me is
on this trend line I was going to hit
five times. So, after these trend lines
get uh you know, after they act as
support, only there's only so many more
hits that this trend line will give a
bounce to the upside and will break to
the downside. So, right away, we have
five now hits on this trend line. So,
and the the hits are getting more
frequent. Just today, we're bouncing
pretty cleanly off it, you know, a nice
recovery to see for GE Verana, the
energy beast.
Um but, what I'm curious to see is what
I'm going to be watching end of day is
if price can reclaim this 948 level. If
we go to the 1-minute,
as we see here, just at the open, price
was above this level and now has since
faded. And if we turn on view up,
price is still staying above this, which
is a good sign for GEV, but I'd be
curious to see if this 948 level, if it
gets um if we have a daily close below
this level, then support-wise,
I'm looking for this top here, 894,
um 894-93, a horizontal support level,
and then also the nice swing trend line
here from this pivot top of uh July
31st, August 1st, 2025.
Going through this
price action here, you know, this is a
less steep trend line, more long-term,
um but if price got down kind of with
there's pivot top correlating around
840-850,
right in this area, should price flush
down from this trend line here, this is
where I will be waiting.
Kind of in that zone. Sorry, that's not
the tool that I wanted to do. Let's try
that again.
Yeah. And this kind of this zone where
this pivot consolidation shelf is and
then with this rising long-term support
trend line,
this is where I would scoop some up to
go long GE V.
All right. Enough with that. We're
looking at Costco next. I am honestly
checking out a day trade. Honestly, if
price continues pushing up to this 978
pivot top and also lining with the 382
Fibonacci at 979
52, this $1 tight zone is where I would
fade Costco. So, I will be watching that
later today.
Also, if you didn't know, I do trade
live every day in Apex live day trading
room. We do have some links down below
and you know, I just want didn't want to
I just want to know if you'd like to see
me trade more action in live and see how
it and how I would maneuver through
trades like this. Um, you check those
check that trade room out.
Be awesome to have you there and to have
some more fun there.
But, going back to Costco, I do have
this down sloping trend line out here.
So, we we talked about this could be a
fade level here, but this
this down sloping trend line that has 1
2 3 4 and four hits now.
Should price push up past this, I kind
of I love this trend line as kind of
back up resistance and just at 981, if
that would happen today, would be
another test. Price right here was could
not get high enough to challenge us
again. So, that has four clean hits, so
respectful. To the downside, I'm looking
for the support trend line from the slow
pivot from
uh July 10th. 1 2 3 four hits as well.
So, kind of now developing a wedge
pattern here on Costco as we're getting
tighter consolidation price action.
Still still, you know, a few days out or
weeks from executing on a uh
uh coil base for a wedge, but just
noticing the trend lines converging. All
right. Couple more guys. We're looking
at Take-Two. This is the the beast
company that makes
the long-awaited GT6 arrival. And since
the pre-order high, we've been starting
to grind down and still selling off the
past 2 days as there was some news that
there was some leak with the gaming
footage and uh
Grand Theft Auto negated it and
whatever.
Um still selling off. So, it's kind of
flat today, kind of printing a doji
candle, which is kind of like a standoff
between
uh sellers up here and buyers down here.
It's kind of an indecisive moment. So,
curious to see on that, but I'm looking
at this down-sloping trendline
that now has got seven six to seven hits
repeatedly right in this action. So,
curious to see if this would and should
break to the upside. If it does, it's
going to have to get past this pivot top
here at 246.25.
Um
and could be a level to fade to the
downside. And here, we have this
up-sloping trendline one just two hits.
Um so, look for this level and actually
no, I don't like that. Excuse me. Um
yeah, when I when I talk have a valid
trendline, I like three hits. So, yeah,
that was my mistake on that one.
Um support-wise,
I'm still looking at this 227.02
for support for Take-Two, TTWO.
JPMorgan has been uh
the find the whole financial sector has
been killing it and um JPMorgan is not
just uh lagging a bit behind. It did
have its uh sharper moves earlier this
month. Um but I'm looking at a potential
fade setup should it push up to this
kind of zone here, this 366. So, I like
this as it's the top of these two pivots
here, which would be double top after a
healthy pullback. So, on a sharp move up
into this level,
this could be a nice uh fade. And then
you also this kind of a day uh day trade
if uh
volatility picked up in JP Morgan. And
then also on a swing basis, if price
tried to reclaim this parallel channel
and could test the lower bounty of this
also with this up-sloping trend line
here from this April 21st pivot, 1 2 3 4
5 6 hits. So, these two areas right here
from
368 to 371
um
they these two levels here could be a
tight
uh
zone to fade in JP Morgan.
To the downside, um Thursday and Friday
price got a nice bounce off this 351.24
pivot. If this does fail to the
downside, this nice white wide-range red
bar candle left a unfilled gap, which
should offer some major support here at
344. Also lining up with this pivot top
here at 343. So, some good support there
for JP Morgan.
All right, guys. Last one I got for you
guys today in the books, looking at
MSTR, having a great run off Bitcoin's
push up. And um as their holdings are
mainly Bitcoin,
um they're seeing a nice push up in
their stock today above another 5% since
Friday's closed.
So, where does this move get shut down?
Well, I'm looking at the just the
technicals of the chart, and there's
this pivot low at 139.36.
A lot of trading on this level right
here. Price gap down below this level
and on these 1 2 pushes up could not
reclaim. So, this polarity has flipped
on MSTR, and 139.36 is now resistance.
If this level can get blown by on some
great Bitcoin news, look at this 149.78
large gap fill right here, also
coinciding with this pivot low here, and
the $100 $150 psychological level.
To the the
we'll finish off with some support. Look
for this low uh
trend line support trend line up sloping
for support. Price now has gone bounced
off it just fine. And with today's
action here, it gapped up and did not
test this trend line and continued up.
Uh not today, I meant. Um but is if
price loses steam and comes down, look
for some support anywhere from $100 to
104 for MSTR.
All right, guys. Thank you guys so much
for spending your day with me and
checking out some good content with my
videos. Um let me know if you want to
see anything next or anything that has
really helped you, I would like to know
out there. And also, if you've watched
the past five videos, give me a nice
star comment below. I want to see kind
of who my long-term fans are. All right,
guys. That is enough for today. Um thank
you guys again and have a great day. See
you guys next time.