We have an interesting evening star dojo at a 200 MA and a major resistance line. This is very over bought, we could use a little more confirmation on the MACD. Will watch closely on monday at the open to make sure it isn't going parabolic up. There are a few gaps to fill on the downside. This presents an interesting short opportunity down to 22 even down to to around 20.
Comments
displyn
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Two Doji at the 200 sma, hhhmmm? seems bearish to me:) Bulls need to break 25.29 & close above the 200sma; Bears need to break 24.55 with the 1st target at the Fib 38.2% at 22.16; 2nd target Fib 50% and 3rd target at the Fib 61.8%. However, I would watch the 50sma for a bullish bounce.
2bigbrowndogs
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Bulls got their bounce, I was hoping it was going to breakdown today, but now it looks like the 200 sma might be acting as support now. We may retest it and see if it holds.
displyn
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200sma is support, definitely bullish. I would wait for a pullback for an entry or do a bracket trade. Or use the lower timeframe for entry.
displyn
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Also, it broke the 200sma with high volume.
luc.begnoche
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agree it is overbought
in case it can help you, it may seem very simplistic but one of the best SELL signal I get on EWZ is the 10 days MA starting to decrease, however my best BUY signal is not based on MA but on stochastic momentum, last BUY signal was on February 23rd
I get these results with A.i. based on technical indicators, I personally follow EWZ since it is one of the most predictable MSCI index I found with with my A.i.'s, 17.2% annual compound growth rate (ACGR) vs 3.8% since the beginning of EWZ in 2000
displyn
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I agree
jofansiwork
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How will you trade this stock?
displyn
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If open below the low on Friday buy puts or short it. Use the Fib for your target.