Right now is either a good opportunity to go long or almost a good time to go short, depending on how you feel about the financial sector. Quick overview. On the rise since May Recently broke 100 day EMA but bounced back over it. Recently gapped down below old support line. Still under old support line. Short-term on the rise. Formed a bearish engulfing pattern...
Short-term short, but this has been an extremely strong uptrend. I would open a long position if... 1. It closes on the weekly over the resistance line. 2. It gets close to the 100 week EMA Remember this is a weekly chart so things don't count until it nears a close on fridays.
OMX has had a nice run since the middle of August and the 13 day EMA has been a good uptrend indicator since early October. Today the 13 day was tested and then rebounded strongly after the test. There is still life left in this uptrend. I would buy if it dips below 15 and use a closing price of 14.80 as your stop loss.
What we know... 1. Trading under the 25 day EMA for many days now. 2. Lost all gains made since the last correction of 10/9 3. Short-term resistance line still holding. I would begin opening a short position if it gets close to this line. 4. Support from the hammer is approaching. If it closes below this, add to short position. 5. If it closes above 51 it...
Nothing too technical just observations and overview now since it's close to its average price. First thing I noticed is the trend changed in favor of the Euro and it should continue higher after this short-term correction. The support for this trend is about 1.276. Short closer to 1.34 and use the trend change line as resistance. I will reasses once it...
A nice rounded top at the resistance line has formed and the EMA's are getting ready to cross. Looking to get between 4-6% within a month. It probably will go lower but in the past it has taken up to 6 months to get down to the support line. Place stop around 1045 just in case it decides to double tap. The RSI has done a great job of calling bottoms. Anything...
ATVI has been on the rise since the beginning of the year. The 200 day EMA and the support line from the weekly are basically mimicking each other. I drew in a bunch of skinny black lines which allow me to determine when the sharp downtrend gets reversed. This doesn't mean a huge breakout will follow but in ATVI's case I would say a 2-3% rise with the...
Just a quick chart of Tesla's new trend. I am not sure how long it is going to hold but for short-term plays this may be useful. I would partially close out my short position and see if this range is going to hold.
Linkedin has been on the rise since February and the 100 day EMA has been a good support indicator. LNKD is under the 100 day and will test the gap support of 213.48. Now is a good time to open a partial and buy more when the stoch lines cross to the upside. HAPPY TRADING!
The overall trend is up and the RSI is showing a buy signal. BUT... It recently gapped down and that is always a bearish signal. So what to do you ask? Wait for confirmation of course. The trend up will continue if it closes above 20 and this is where I would open a position. It may be a little premature to short this because of the strength of this...
1st off. Ford's momentum is slowing. The 50 day EMA has been a good support. Buying under this has earned great rewards, but what makes this different is the fact that Ford has dropped below this line 5 times since late August. This line is breaking down! All 3 lines I drew are support with 16.35 being the most meaningful. If this support is broken expect a trend...
Tesla had a nice run, but the quick money has been taken. The 25 day EMA was the most accurate support indicator. It trailed the rise and only dropped below it once, bouncing right back over it. Since the beginning of October this support has failed. The gaps are interesting, indicated by the 2 skinny dashed lines and 1 fat dashed red line. 158.51 is notable...
First off...Earnings before open tomorrow. Second... Of course it is near upper resistance line. Will it gap up on earnings or retrace back below 18 Third...Whenever the candles formed a gap, the top or bottom of the gap that holds as either support or resistance is dependent on the direction of the move. For example, if it gapped higher, the top of the gap...
This is almost the same chart I published a few months ago but I just noticed the breakout so here it is again. Pretty explanatory but look at my weekly chart on this to see the entire picture. My weekly is still active from way back, I only closed the daily one. Sorry I didn't catch this a week ago when it gapped over the resistance line, but we are still at a...
Rising support line since April. Hammer formed bouncing off of this support. Not much else to say. HAPPY TRADING!
Yahoo has been going up since September of last year! I used the weekly to find long-term support so I don't get stopped out. Currently, this turned out to be around 31, but the 25 EMA on the weekly is also a good long-term support line. 34.60 is the short-term resistance line. Once this consolidation is over, I would expect a breakout over this line. I used...