Bearish Wedge pattern needs to be confirmed by closing below 200 SMA seen @ 23.70 , we need to have 1 day candle closed below the support to go bearish supported by the Divergence in RSI and MACD , i think we would target 20 minimum
Friends,
Ever since our targets on January 30th and a warning against an interim rallying capped by the EAGLE's range, price action remained faithful to that presumed scenario in which I introduced the Wolfe Waves Pattern ("WW") and its 1-4 Line acting as an eventual backstop to a rising price.
As of today (03 MAR 2014), not only price action did remain tight...
Friends,
Last January 30th, we defined a few bearish targets during a rather long technical rant explaining our cautious bearish-toned analysis (See: Is Micro Soft? ... here: ). Therein, we warned against a few overhead resistance level, one of which was defined as "EAGLE", representing an (E)xtremely (AG)gressive (L)evel of (E)ntry opportunity for the...
Friends,
Preemptively, our predictive analyses, forecasts and data is for educational purpose only. We use the fantastic array of technical tools ever assembled into one site through TeamViewer, and we go to town.
In this heavy weight Nasdaq top-leader, we could not help but stop whatever beekeeping activity we were doing as we heard the sound of a branch...
I would wait to see if this breaks the resistance of the gan and see if the MACD is still bulish to confirm a long position, as so i am neutral for now, l, i suggest looking to EMA if gets bullish too. If the next volume tick isn't bigger than the last one. I suggest there's a slow of the momentum
General pattern of drop(sharp), base, rise ...
From here, if pattern repeats, look for retest of high, some sort of shakeout drop into base area then get long for next extended move.
Been long since low 20s
I think the decade of consolidation is about to end.
We need to clear this crucial 37.50 and we have another 50% gain in store, at least.
