It started 2014 year as laggard and was trending lower in bear channel
. But then it bounced off of 200 EMA
with RedDogReversal, regrouped and have built higher highs. Finally, sentiment changed when it resolved this indecision area with break up of resistance at $88.60 with nice 4 days follow through. Traders should adapt and make adjustments if they want to survive and be profitable. Then, it built nice upper-level base and borke up again. After 3 weeks of consolidation it broke up to new highs.
$MSFT put another record high, 8/21/50 EMA
control price. Stocks like $TSLA, $INTC, $FB, $NFLX and even $TWTR looks well and hold above 8 EMA
, but no calculated setups here.
broke up its descending channle as this stock was not interesting for traders last 2 weeks. Lets see if it can build above $91.35. High at $95.05 could be intermidiate target.
My previous ideas on some of those stocks and evolution of thoughts: