• Chart Art
  • Posts
  • Stocktwits Chart Art: October 14, 2024

Stocktwits Chart Art: October 14, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
October 14, 2024

Presented by

STOCKTWITS CHART ART: OCTOBER 14, 2024
The Stocktwits Summary 📝

U.S. and global equities continued their rally after China unveiled a 6 trillion yuan Treasury Bond issuance over the next three years to address local debt and bolster property market stability. Traders and investors are increasingly looking for “catch-up” plays into year-end, which is the category all of today’s setups fall under. 👀

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.82%)

Neutral (50)

Normal (49)

$QQQ (+0.84%)

Neutral (48)

Normal (46)

$IWM (+0.74%)

Bullish (59)

Normal (46)

$DIA (+0.50%)

Bullish (63)

Normal (46)

*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.

And here were Stocktwits’ top Trending symbols:

CHART OF THE DAY
Coinbase Plays Catchup To Crypto’s Big Move ₿

With MicroStrategy mooning last week ahead of Bitcoin’s weekend breakout, the rest of crypto-related equities are also picking up steam. ♨️

Stocktwits user @TheProphetOfProfit pointed to Coinbase breaking out of a classic “inverse head & shoulders” reversal pattern, which would target all-time highs.

With MicroStrategy reversing today, we’ll have to wait and see if the crypto momentum can continue. But for now, the bulls are betting on a bigger move ahead. 🐂

@TheProphetOfProfit | Pro | Technicals | Equities/Options/Bonds

$COIN breaking out of multi-month downtrend resistance today… inverted head and shoulders on the daily. Next resistance is in the $192.40s.

Traders Eye MicroStrategy Copycats For Crypto Catchup 🧐

@AskLou | Pro | Momentum | Equities/Futures/Options

$MSTR there are a number of companies free cash flowing who still believe it's appropriate to keep treasury assets invested in fiat that will inflate to zero over time. Eventually @Saylor's proselytizing will find an audience among the forgotten companies with a large and growing cash balance. A couple come to mind: $DOCU, $ZM but there are many. $SMLR is one that has implemented the MSTR strategy. They have a diagnostic business that generates cash. Some say it has a moat, others say it does not. It is a microcap, or maybe nanocap with insiders owning 30% and 5 days for shorts to cover. I have no idea if the 2025 estimates are viable but if they are, the stock is very cheap and has the $BTC.X kicker. I always use limit orders trading this. Very, very illiquid.

Unity Software Approaches Overhead Supply 😬

@sks986 | Pro | Technicals/Growth | Equities

@howardlindzon yes but lots of overhead here (altho its probably really old)

SPONSORED
Spot Big Winners Early With MarketSurge! 🤩

Want to pinpoint the next wave of leading stocks? MarketSurge Blue Dot is your key to spotting big winners before they take off.

Start your 6-week MarketSurge trial for just $49.95 and get instant access to the exclusive Blue Dot stock list, plus all the premium tools and charts you need to level up your trading.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

Subscribe to keep reading

This content is free, but you must be subscribed to Chart Art to continue reading.

Already a subscriber?Sign in.Not now