Short term bounce setting up. RSI and stochastics are almost oversold and there is some bullish divergence when looking at the MACD. Also 200 EMA is just below the current price along with support that has been in play for a while. Currently trading right on the 0.382 fib retracement. Anything could happen but it ...
Possible downside to SDRL...
- Break of the neck line in the H&S pattern coupled with a break of the upward channel at the same spot
- Big volume making this move
- Pink lines are Fib levels from the downward move from the head of the H&S pattern (possible support/resistance)
- Blue arrows show possible price movement
Indicators showing an overheated market about to turn over (RSI, stochastics, money flow, stochastic RSI, MACD). Also some major divergence is showing up, namely on the two indicators shown and the MACD. It looks like it is reaching the top of a trend line.
short term trade on AAPL. possible bounce with support below us as well as stochastics and RSI. look for resistance at 200 EMA and upper trend line. keep fib levels in mind. looking to use options on this one