This is by far my favorite pattern. The 1.618 extension on X-B with the RSI BAMM. It has a very high probability of playing out. My first target is major trendline support. If it fails to reverse through the 0.5 fib then further downside will proceed. I feel the same way about V as I do with MA. They have been in insane uptrends since 2010 I think it is logical to...
Details to follow. MA is down on earnings. Visa looks toppy. Full of divergences internally on this rally back to the high. It is under the previous few day's lows and above today's low, so it looks like a short to me.
Sorry to rush out a chart without listing everything graphically.
All the best.
Tim 3:58PM EST Wednesday
Tough to miss next leg upside but hard to know how high it will push before it reversed. Think now $200 is a possibility next 24 months with stop loss at $151.50 area. Join us www.woowtrading.net
FYI the company will report Feb 6, 2013 and may not sound a good idea to short this stock before earning. Any good news may even make this trade more attractive. The highest price it can run for the year is 178 area or even beyond that no one knows but my mathematical calculation is telling me a reverse is a within reach or price may top soon. If you decide to...
Here in London there has been a serious amount of spending going on due to the Olympics and Visa were an official partner meaning every single transaction went through them so it's no coincidence that the chart is decent too.
Breaking out today with a new 20 day high on above average volume.
