Cisco has broken out of the rising wedge after a strong sell-off from 61.8%. Strong bearish divergence indicate a continued sell-off.
Phillip Morris double top rejected 61.8% and support turned resistance level.
Technical suggest that a sell off may continue. First, the bearish pennant/symmetrical triangle indicates a sell-off soon. 2nd, double top persistent closure below 38.2% of the bearish impulse move. Third, the 88.6% of the double top shows a bearish hanging man. Thus, the sell-off is imminent.
AT&T had a strong sell-off on Friday close. Will wee see a strong continued sell down or will it rebound to 88.6% of the rising wedge for a grand sell-off?
Based on price action, we are seeing Microsoft heading for a downside now. First of all, there is a potential double top with two hanging man nearing 78.6% retracement of wave A. Pattern wise, the rising wedge is a key signal of converging and losing bullish momentum, coupled with a bearish RSI divergence. * If there is a upside, 85.4%-88.6% will be the next...
The sell-down towards the rebound explains in the wave 4 chart is on point and we should see price moving downward as we speak.
The rebound at 200 psychological level that happens 2 days ago is seeing some upside. Moreover, the strong upside on Wednesday closes above the falling wedge may give a good bull run till the major resistance ahead at 216.07. However, yesterday bull's before the market closes were weaker than expected, with price testing the 200 days MA and 50% fib retracement of...
61.8% retracement of wave C will see if the price breaks or make. Now we are at a cross road.
SPX 500 has a high chance of heading higher. Looking to long at rebound
Mapletree log is on the way to complete the B wave and it is slated to move one final push ahead. Should the push is finalised at the supply level or 78.6% of wave A, there is a great chance that price will swiftly break below the rising wedge. Momentum analysis suggest that the (b)-(c) sub wave of B is showing signs of slowing bullish momentum as compared to A.
Southwest has finally broke out of the falling wedge and with divergence in hand, we are looking at a immediate rebound to the 1st resistance level at 37.26.
Nasdaq futures suggest that in the mid term, price is gonna rally higher but the potential rebound is the sub wave C of the smaller expanding flat within the 3rd wave extension of the primary wave.
no doubt we are on the long side and my view of it rising to test the high of 61.8% retracement of wave C is still ongoing. You may refer to my post on
The Index has broken the Rising wedge and although there is a light rebound, shorting opportunity is still present as the sub 5 waves are in motion, we will see another leg down upon reaching 50% of the (iii) wave of the C leg.
The current larger expanding flat structure reveal that Paypal is still in a ranging mode. Hence, to downplay this, the classic buy low sell high is kinda the best strategy right now. We expect today to have a sell off to 50% retracement of 90.14-122.48. Should price have a strong upside today, we see immediate target resistance at 126.07, slightly above wave B....
Rising wedge and a divergence indicate some slowing down of the bullish momentum. To add on, the shooting star formation has tested and rejected the major support turned resistance level.
SHeng SHiong has a strong upside until last Friday, when there's a bearish engulfing candle. Subsequent sell-off occurs on monday open and judging from the sell-off, we are seeing a rebound at minimum 1st demand zone level.