China 50 creating a Ascending triangle formation, watch out for divergences going ahead on RSI and price action. Also, ROC over 0 In the positive direction may encourage upwards trend and otherwise in case of sub zero. Watch out for trends on movements We are approaching climax and breakout zone and in the Set up stage now . Interestingly, on Daily charts, CQQQ,...
Hi Friends , breakout on daily time frame on AMEX:CQQQ . Look at the breakout with the Green candle peeping out of the triangle formation. RSI and ADX both showing strength (DM crossover the DM- but ADX still weak, but looks like gaining strength. Watch out for possible retest of the newly found support line ( earlier resistance line) for a possible throwback...
Technical Analysis: 1. KWEB (Chinese Internet ETF): Expect a relief bounce here for Chinese Internet stocks ( BABA BIDU JD ) with a Hong Kong ( HKDOW ) & Shanghai ( DJSH ) market rally. a. Holding 200weekSMA and 50monthSMA support here at $44 with record volume twitter.com b. Very oversold on weekly timeframe c. Strong price support at...
Shares of BIDU came under pressure because of management changes, but the selloff seems grossly overdone. Shares are currently sitting on a massive support zone... the 50, 100, and 200 day moving averages are bundled up between $242.39-245.42. Right below those averages is the 61.8% retracement of the previous major swing, further strengthening the support....