Drug Manufacturer Brystol-Myers was trending up and topped at $57. At $54 it dropped below key moving averages - for me its point to make adjustments. Recently it has been hovering around 200 EMA and now broke down with conviction on volume above average. The last potential support was at $47.50 but buyers failed to hold it. I think if it will hold below for the...
EBAY is on my short list. As it trades below all key moving averages including the most important one 200 EMA, means that bears in control despite storng market and technology sector as well. Earlier it failed to hold above $58 (breakout point) and definitely it is not a good sign for buyers. Ebay gapped down on earnings on 30th of April with pivot resistance at...
ACAD was holding major support $20.06-21.33 since October 2013 and now it acts like resistance. Today ACAD triggered ENTRY short below consolidation support at $19.00ish area. TARGET is April's low at $15.58 STOPs above 21 moving average
Banks also continue to look very weak as Bank of America (BAC) broke lower out of a lower level consolidation. The stock gapped down on it's earnings. Now we have point of reference at $14.71, if it will go through previous low of the day I will be considering Short option. Resistance at $14.86 then $15.00, if price will pullback to that area I expect to see some...
This retailer broke down t-line that was intact since April 2013 with powerfull gap with pivot resistance at $70.51. It signaled about change of sentiment. THere was nice bounce play from that resistance on 4th of April and from there formed intermidiate downtrend form one side and higher lows from another (indecision, wedge). Overall market is sitting on...