For a long-term trade DRN is not a great shorting stock. It closed yesterday at $10.01 so there is not to much further for it to fall. But with the gap down on higher volume a quick short could be on the cards. Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a...
MDRX has been in a messy downtrend for a few weeks so Friday's gap down, on the earnings announcements, did not come as a surprise. As volume was also up there is a good probability that the bear move will continue. However, because the trend is not very neat and because there is support at $8.84 this is a near-term shorting opportunity only. That still gives a...
The over all trend has been down, while on the 4hr charts the trend has been up toward the upper bounds of the daily down trend. The short term 30min chart is showing divergence and lessening momentum, as it approaches the upper bounds of the down trend. This divergence, which is indicating a move down, is a good place to enter short, and ride the larger trend...
I think a test of the 2000 level in china is going to happen quite soon. It seems as if the only buying pressure coming off of the last selloff was from short covering, which is not bullish. Natural buying pressure seems low, but this may change at lower prices. Support at 2150 is strong, but may break soon; the next significant support level is around 2000 yuan....
Apple failed the 9 MA indicating the short term has cooled. Apple is playing with the 50 DMA and the trendline support levels. Today's gap down invalidated the uptrend, came with higher volume, and and erased the prior bar's gains. I believe this to be a professional gap, ie: the market will continue in the direction of the gap for some time. Eventually, the gap...
DOW has peaked out and the down move has started. Based on Elliott Wave Analysis the ending diagonal has completed 5 moves after which a big correction is expected, giving the confirmation is the Candle stick signal patterns a Bearish Shooting star as well as Evening Star. Expect market to correct till 15500 as 1st Target and then beyond. Looking at Fibonacci...
The market forces that move price can't help the fact that price returns to balance. The prior action to the upside above the balance line was followed by reaction to the downside. Next, moving along the red fork, price went up by the same extent as it had been to the downside. :-) Now it's found resistance at the bear trend line as well as the balance line. Next,...
up or down !! if up => go to 2050 if down => bridging the gap in 1950 and maybe later in the very long term go to "1800-1700" What is your choice ? up or down !!
Price has started to trend outside the fork, which means the trend's become relatively strong. The GBP is weakest currency of all the majors, whereas the AUD is still very strong. The pound's momentum is in a recovery (rising) phase - thus the correction. The AUD's momentum is already at the oversold levels. The correction, if continues higher, is likely to reach...
In my opinion, I don't think so. The Euro Area economy is not doing too good and Germany is limping. After today's monetary policy I believe the EURUSD will continue the descending trend. A break below the local trend line would signal the fall, while only a break above the 200 ema would signal a rally for the euro.
The force of the down trend doesn't allow for too much of a deviaton to the upside. The key resistance level of 1.444 looks like it's going to act as a strong resistance. However, the ongoing correction is expected to run out of steam at about 1.436-1.438. That's where the first shorting opportunities will probably emerge. ----------- Disclaimer: There is a very...
Needs to be handles with care though and one needs to be careful not to jump the gun. While EUR weakness is supported by fundamental factors, GBP, in short term at least, could itself be subjected to weakness in the absence of any decisive direction from BOE. Watch and get in if the price supports our point of view. Cheers
My main scenario for the EURUSD is still down. A retest on the last low could be done by the end of this day. The rest will depend on how dovish Janet Yellen will be at Jackson Hall. In the current context my target would be 1.3200 before Tuesday. Only a break above the local high could trigger a rally towards 1.3335 and above.
Gold presents very interesting pattern on daily charts. There is a clear pennant formation on a downtrend. Pennants are continuation patterns. So a break to the downside could take this down to 1150 levels relatively shortly. There are fundamental aspects that would support this move too. With the US on mend and Euro area in tatters, strengthening on USD would be...
The CAD has been relatively neutral (though strongish during the correction), whereas the JPY has kept on being strong in the long-term perspective. In terms of the cycles of momentum of both currencies, the CAD seems to be likely to complete its rising phase and the JPY about to strengthen a bit. The trend is still down. Now that price has approached the upper...
This currency pair is in a relatively strong down trend, following a modified Schiff. The EUR is still pretty weak, whereas the JPY is the strongest of the major currencies. Now that the major low to the left has been taken out, I expect to see new lows. There should be some support around 135.25, coming off the prior highs, but it can dip as low as 134.
We could clearly see 1.32-1.318's before seeing new highs. EUR seem to be weak across the board at the moment. With temporary pullback north potentially hitting 1.35's, looks like good place for shorting again.
Price just broke out of a range, in addition to breaking a Fib retracement drawn from last July. I am looking for a pull back before adding to my short position (short began at 1.3895 4/11/14)