with earnings around the corner, the playstation maker is about to break out after getting support at 72.41 and the clear bullish candle to reach to the top of the channel indicating more to come.
would be buying when it retests the channel
on the 8 hour time frame, CIPLA has made higher highs with RSI making a much steeper lower high.it lost .236 fib level, 50 EMA and 10 SMA also breaking the channel since april. can take refugee at 0.5 level of 696 INR unless earnings can move the price up
LITE is forming a nice cup and handle pattern and has regained the fib level of 0.5 and successfully tested it. If there is enough buying pressure to reclaim the .61 fib level, it would mean it would enter back into the prime trend line from march.
Upside is 90.86
downside is 93.16
First ever post. any feedback is much appreciated as I am trying to learn....
head and shoulders pattern in the formation since july. can expect it to drop to 971, the neck level by end of week as MACD entered strong bullish trend and closed below 50 EMA today. The only saving grace is great earnings which might drive it up but no surprise if it loses 887 where it found a lot of support.
Clear divergence is evident when price was making higher highs with RSI making lower high.
Currently found support at .786 and MACD on the daily chart trending is entering below 0 while the others are already in bearish territory.
Could fall down to 5.78 by election day unless the bulls step in, which i highly doubt
SQ broke below the trend line since march and comparing the price to RSI, there is a divergence. Can see the stock fall to 0.3 fib level of 163.53. Currently testing 50 EMA and is below 10 MA.
