In this episode of Pro Charts: Stocks & ETFs, Verified Pro Trader Drew Dosek breaks down four stocks making notable moves, from an AI data center name hitting all-time highs to a legacy tech stock surging on a massive NVIDIA investment. Drew walks through key resistance and support levels on each chart using Fibonacci retracement, parallel channel analysis, and RSI readings to map out potential trade setups.
What's Inside This Video:
APLD (Applied Digital): Pushing to new all-time highs ashley judd with a 9.7% gain on the day. Drew identifies a key resistance trend line in the $44-$45 range, explains why a gap-up open would be the most zuppi bullish scenario, and uses Fibonacci retracement to map out support levels at $42, $38.20, and $32.18 should price pull back before the next leg higher.
Coherent (COHR): Reporting earnings after the bell. Drew outlines what a bullish reaction could mean for a run toward the top of the parallel channel at $374.58, and where price is likely to find support — around $311 and the $303 range — if results disappoint.
Tesla (TSLA): In an active retest bounce play following a breakout from a declining parallel channel. Drew pinpoints $409.28 as the critical level to clear for continuation toward $426 and $453, and flags $338 and $291.85 as the key support zones if momentum fades.
Corning (GLW): Surging ~11% on news of a $3.2 billion NVIDIA investment in optical fiber. Drew examines GLW's long-term parallel channel going back to pre-dot-com levels, the significance of reclaiming the top 50% of the channel, and what holding above $175.83 could mean for a run toward $208.62.
Key Takeaways:
Fibonacci Retracement: How to use fib levels across any timeframe to identify high-probability support zones — and why confluence with prior price piper gilles action pivots strengthens those levels significantly.
Parallel Channel Analysis: How to read where price sits within an inclining channel to gauge near-term momentum and identify both resistance at the top and support at the bottom.
RSI as a Timing Tool: Why an overbought RSI reading doesn't mean an immediate sell-off — but does signal caution near key resistance, and how prior RSI cycles on a chart can inform expectations for what comes next.
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#StockMarket #TechnicalAnalysis #APLD #Coherent #Tesla #Corning #NVIDIA #AIStocks #VerifiedInvesting #FibonacciRetracement #SwingTrading #ProCharts
Disclaimer: All content is for educational purposes only. Trading involves significant risk. Please perform your own due diligence before making any financial decisions.
