AFTER BREAKOUT THE CHANNEL IT FORMED FLAG PATTERN , BUY IT OR WAIT TILL HIT BOTTOM
Rio Tinto weekly chart shows inverse head and shoulder breakout, although subsequent rise has been capped repeatedly around 2550 levels. On the daily chart, both the RSI and money flow index suggest increasing bearish pressure on prices. Hence, we could a minor drop to 2390-2350 area. However, overall view stays bullish unless the weekly close is below...
See chart for description on what I see
Reason for Entry as described in the chart.
$REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume. I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending...
$CDTI rose sharply following a Gap Up over the previous few days due to good fundamentals and a contract win with Honda. However, the chart was over extended and volume started fading into the close on the 12th of July so I shorted on the first red day with one of my brokers who had shares to short. I anticipate that this will follow through to 0.50 (and...
Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher. That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for...
Monthly Support Bottom of the Weekly BB (10)
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The price of the shares of National BankShares has formed the wedge down pattern, the price now break the pattern and looks like it will continue to rise. It may be a good oprotunidade to trade some shares of NKSH. My sugestion: Entry point: 34.25 Stop loss: 31.39 Profit target: 39.93
The long zone starts at the 32.00 level. The potential targets can be the larger offer levels of Institutional Holders. These are the 33.71 and the 34.90 levels.
The long zone starts at the 53.22 level. The potential targets can be the larger offer levels of Institutional Holders. These are the 53.95, 54.90 and the 56.20 levels. Follow Smart Money Twitter: @FXSmartMoney
SIRI has had a rather stable support line at 3.63 but when it was violated, market tumbled down till 3.30. This has created an over-sold market with a trend in an upward direction. Past support has now become resistance at 3.63. This is a very important line taking into account past structures: market is giving us signals. Therefore, taking into account the...
As we can see eurjpy is clearly in a downtrend displaying continual lower highs and lower lows. Price came down to test and bounce off the 126.1 support level and is currently retracing to our critical "acceleration zone". our confluences for this acceleration zone: 61.8 fib level, major resistance,descending trendline and 200EMA so we are anticipating a pullback...
Nifty Futures: NIFTY while it managed to hold on to to the 7580 levels and staged some sort of a pull back, weak global cues will mean we may now crack that level and open below it. It will be importanat to see if NIFTY futures manages to stay and trade below 7550 in that can the levels of 7580-50 now can be used as a stop for a fresh trade on the downside with...
ITV oversold. Rejection from 50MA with slightly below average volume. If trade is not activated by the end of trading day cancel pending order. Target of 279 - previous high from end of December.
Mylan is in the buy zone of previous congestion/resistance. The stock is oversold in my opinion and we should see a bounce back towards 76.5 from here. We had move down yesterday on low volume which indicates weakness in the move and buyers should step back in soon. Look for long entries on open, stops at 66.