FTSE reached major level of resistance after Reversal Candle, then it regained moving averages and borke bear channel. That attracted many active buyers and we had nice follow through into major resistance 6875-94 that is in tact since May 2013. On Friday, it closed with doji, holding near top. At this point I think we need some kinf of rest or sideways action...
In general, week from 30th of June to 4th of July was positive for global markets. Indexes gained 1-2% mainly on better then expected job numbers from US. Dow Jones above 17000 with technology index Nasdaq at 14 years highs , after the government reported the economy created 288,000 jobs in June and the unemployment rate fell to 1,6%. A stock or index hitting new...
This healthcare company forming best opportunities and shlwing relative weakness on weekly and daily charts. Recent top was at $72, then it broke down and now if flagging near moving averages. I will be waiting for trigger. break down of this minor channel could give us good Risk/Reward entry with stop above $70.00. Add on break of $69.12. Partial take of profits...
Yesterday, many banks reversed off the intrday highs and closed in red on first day of month and new quarter while broad market was setting new record highs. All indexes (Dow, Nasdaq and S&P) are on its highs and the stock managed to cover almost 2/3 of its sell off from highs. It closed right on its 21 EMA which acts like support since beginning of June. Stock...
Gold found supply level at $1331 - reversal point from 14th of April. from another side it is building nice upper level base with support at $1325. On daily, it feels a bit extended, so some kind of pullback makes sence. $1326-28 is another resistance zone inside of that wide range. Looks like bears trying to take control and keep preassure on price. Next...
Yesterday I was analyzing 4-hours timeframe where I mentioned series of lower highs (sellers in control). Today, it broke down 1.67800 important, intermidiate level of support which acted like resistance before with nice "h"-pattern (pullback trade). I keep my TARGETS at 1.67000 and will continue to navigate this downside action. Check my previous thoughts in...
Two weeks ago sellers managed to break down uptrend line that is in tact since NOvember 2013 but buyers regained control as price is above all key moing averages on Daily timeframe as well as intermidiate 4 hours timeframe. Now, it is building upper level base in front of intermidiate down trend line. Recent lower highs and lower lows tell us about weakness in...
Whirpool sitting on its 200 EMA , below all key moving averages. It found strong resistance at $156 (tripple top) and starting from there sold off aggressively then price retraced to moving averages in very controlled manner. On 27 of May selling in stock resumed and now we have few inside days to absorb this big, red candle near lows in front of support. I put...
This construction mashinery company entered into strong uptrend since December 2013 after it broke up major consoldation resistance in the mid $80ish area. Now stock with the whole sector ($MTW, $TEX, $DD, $JOY) showing relative weaknes vs broad market. I use my 8 and 21 EMA to measure short term sentiment ant to make adjustments if i am positioned. It dropped...
I was analyzing Daily chart of NZDUSD two days ago (watch link in the bottom) and mentioned that something is different this time. I was talking about potential short term bounce off of support and then potential break down of support. this is how i navigate this chart on short term time frame. I use my moving averages and levels of support/resistance to...
The stock was leading during the first half of 2013 but then caught some downside. Stock found bottom around $18 then regained its 200 EMA above $20 with nice follow through to $25. Now it is flagging (handle) above 200EMA and on Friday broke up and looks ready to continue. Stock is pretty slow on daily basis, so it is in my long term buy watchlist with entry here...
I see nice Head&Shoulders pattern in USD/CAD with neckline at 1.09030. Moving averages curling down means that sellers keep preassure and control on price. Break below neckline which is our support could lead to further follow through. My intermidiate target is 1.08600 close to support zone. Stop could be placed above 50 MA which follows price nicely.
Gold bounced from lows where we have strong wedge support, built nice bull flag and resolved to upside. I see some buying signals here. My plan is to trade Long close to support lines at $1292.62 then $1290.65. Resistance at $1296.37, if buyers will manage to pull it through than we can expect some follow through to next resistance at $1302-05 area. Good numbers...
Yeasterday US markets closed in red with QQQ -0.8%, SPY -0.9% and DIA -0.94%. But this social network reversed from lows and closed near highs. I think we are close to resolution of this wide range with upside bias because of that strength. Now we have higher low @ $143.45 and important intermidiate support @ $145 that was retested intraday. Another action...
Stock came from $26.33 to $71.80 for one year. Then agressively sold off from high. Pretty deep pullback which we can measure with fib levels - 61,8% is support - the last chance for bulls to prove that it is not reversal. Yeasterday it went through lows but managed to get back and closed on highs. Showed us relative strength vs broad market (SPY, DIA and QQQ...
Silver is hovering around on major support that is intact since July 2013.It is definitely something to keep on your radar. ENTRY: The break above $19.75ish will attract more active buyers. TARGETS: Next resistance is @ $21 where 200 MA then $22 February high. Break below $18.217-$19 support zone could lead to down momentum as buyers who relied on that level...
Market is choppy in 2014 with lack of continuation moves both sides. So, theme of the year is stock specifique approach. I am looking for strong stocks, buying pullbacks and support. Intel is in strong uptrend since the beginning of 2013 year. Now, stock is wedging. Support at $26.00 could be our stop. Next resistance (target is $27.12 double top) If it will...