260-210 accumulation zone
and on top of that there is a
288-260 accumulation zone
which was tested in August
and again in October.
But now there is a defensive,
if not "distributive" appearance
to the chart of MA. The large
swings up and down from 340
down to 300 suggest a large
seller has been dumping a
significant position. The rally
here from 295 to 330 suggests
it is worth a try on the short side.
Look for a test of the $312 area and use a $340 stop loss.
and on top of that there is a
288-260 accumulation zone
which was tested in August
and again in October.
But now there is a defensive,
if not "distributive" appearance
to the chart of MA. The large
swings up and down from 340
down to 300 suggest a large
seller has been dumping a
significant position. The rally
here from 295 to 330 suggests
it is worth a try on the short side.
Look for a test of the $312 area and use a $340 stop loss.
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