IBM is going down in very nice move. Reached my first target in 3 days (check my idea in link below). After 3 days down move it needs some rest before continuation. Need to stay below $182 for further down move
In the morning I was talking about IBM short idea. Price confirmed idea. This is trade management review because entries and exits matters. Comments on the chart. Check my idea in the link below
Yesterday I was analyzing 4-hours timeframe where I mentioned series of lower highs (sellers in control). Today, it broke down 1.67800 important, intermidiate level of support which acted like resistance before with nice "h"-pattern (pullback trade). I keep my TARGETS at 1.67000 and will continue to navigate this downside action. Check my previous thoughts in...
IBM is trading relatively weak to the market which is currently on highs and stock is depressed and below 200 EMA. After strong break up of $190 resistance it caught some follow through right to $199, but then dissapointing earnings was released and it dropped on powerful gap down. Series of lower highs and lower lows means that it is in down trend and sellers...
eBay broke down major support at $50 and closed on dead lows at $49.60 on Friday showing relative weakness as markets trading on highs. Today, it opened with gap and caught some early follow through. Gap open could be new point of reference at $49.30, then we have $49.50 previous low of the day and then $50 psychological level which should act like resistance if...
Casinos stocks showing relative weakness as they trade below key moving averages. At the same time major indexes are at their highs. It is hovering around 200 EMA at $73.22 and today gapped below, it could be new point of reference. Major support at $72 which is in tact since February 2014. Break and hold below for few days could lead to some downside follow...
Drug Manufacturer Brystol-Myers was trending up and topped at $57. At $54 it dropped below key moving averages - for me its point to make adjustments. Recently it has been hovering around 200 EMA and now broke down with conviction on volume above average. The last potential support was at $47.50 but buyers failed to hold it. I think if it will hold below for the...
This construction mashinery company entered into strong uptrend since December 2013 after it broke up major consoldation resistance in the mid $80ish area. Now stock with the whole sector ($MTW, $TEX, $DD, $JOY) showing relative weaknes vs broad market. I use my 8 and 21 EMA to measure short term sentiment ant to make adjustments if i am positioned. It dropped...
EBAY is on my short list. As it trades below all key moving averages including the most important one 200 EMA, means that bears in control despite storng market and technology sector as well. Earlier it failed to hold above $58 (breakout point) and definitely it is not a good sign for buyers. Ebay gapped down on earnings on 30th of April with pivot resistance at...
I like Short idea in Goldman Sachs (GS) here: 1) while the Dow and S&P have been trading nea rhighs I have seen a lot of divergences in the market. Weakness not only in tech but the banks also been an area of major concern. New regulation seems to have affected aspects of their business, and the future isn't looking as bright for the industry. 2) Bear flag. The...