AZO is approaching its' down sloping trend line on divergence in the technical indicators. Both the MACD and RSI have created new highs, while the price action has failed to reach new highs. The stochastic indicator has shown negative divergence on this recent move up. The key level here is 390. If AZO is going higher it is going to have to maintain support...
AAPL is once again entering my ideal oversold conditions in the hourly. I absolutely love the positive divergence shown on the MACD. That is a very bullish sign for me. Last time I recommended a buy based upon the AAPL technicals, it ripped for 7.5%gain in just over a week.
Look out! AAPL broke what was a 5 week long term support of 655. The technical indicators on both the MACD and RSI indicate there is room for AAPL to slide down further. AAPL might catch a bid at minor support of around 648. If the technicals are right, It might be a place to go long with a tight stop. I prefer to see RSI in low 20 range with MACD near 7
On Friday, we got the bullish 1-2 i-ii to play out on the intraday charts for a solid 7.5%+ run. Looking closer at the 5 minute chart, shows we may have completed all of wave 3 at 21.96 however it is possible that we may see the 3rd wave make another push towards 22.07 to complete since wave v did not create a new high. This would also give better fib...
Well if you followed my chart yesterday, and got in at my first entry then you have a 5% gain today. Congrats. First target for this third wave is 22.1, but it appears we will extend beyond that . Extension targets are 22.54 and 23.04
My earlier post on NKE mistakenly said earnings come out Tuesday. NKE is actually releasing its' earnings report after market hours on Thursday 9/27. After the release of earnings it might be wise to purchase puts on nke. If I you were holding options right now you might want to get out now. Reason being, the implied volatility is nearly doubled its...
BLUE COUNT My overall view of FB, I am short term bullish, long term bearish. There is a clear 5 wave move down from 33.5, and I believe the recent rally from its' all time low can be counted best as a 5-wave a wave. This recent pullback can be called the B-wave due to its nice fibonacci relationship of a .618 retrace of the a-wave. If it were to rally from...
Using elliot wave analysis as my primary indicator and other technicals as supporting indicators, I am bearish on Nike. I believe the recent rise seen in Nike from the 84.76 level has been corrective fourth wave action. The MACD, RSI and Stoch indicators are embedded indications that Nike's fall from the low 100's to mid 80's was a third wave. I would also point...
The 1 hour chart suggests AAPL will make a run at the 700 mark. As shown by the technicals, historically the RSI in conjunction with the MACD has proven reliable in predicting turning points in AAPL. At the end of May and July, MACD and RSI would show similar signs of oversold conditions before rallying. Ideal buying conditions would be to see RSI come down...
Here is another point of view other then Elliot Waves to show the impending reversal coming for silver. Although SLV does not show it, but silver did come down to test support in September which is why I believe this is a triple and not a double bottom reversal.
In this chart I analyzed SLV's 1 minute chart for May 9. Here I pointed out three peaks where SLV rallied to 20.47 before encountering resistance and heading back down. Volume is a key factor in identifying this triple top resistance. Before each rally to the resistance there would be significant increase in volume, but each rally had less volume then the one...