Bank of America is being tested right now and the battle is fierce. So far the support at 14.31 is holding but the bulls haven't been strong enough to break out of the upper EMA's. We need a big effort soon if this is going to soar higher. If you feel bullish about the financial industry right now may be a good entry point, but if you are bearish wait for support...
Wait for it to get outside of this range and go with it.
Blackberry has been testing this support around 10.80 for 4 days. Lets see if it holds or cracks. Happy trading!
ABX is getting ready to hit major resistance around 18. The previous trend is almost identical. If it closes over 18.30 my analysis is null, but this is a good short opportunity with little risk. I expect it to blow through the lower support line. Happy trading!
I decided to make a daily chart to go along with my weekly chart. I thought this may give a little more depth to BP. There are 2 possible support lines and it is currently pretty close to one of them. I would short BP if it drops below the higher support line because I believe the higher support line is the most pertinant. See my weekly chart. Happy trading!
Coke is at a critical point. It is nearing the end of a narrowing pendant trading range and close to a support line that has held up pretty good since the end of March. Wait for a close outside of this range and roll with it...whatever way that may be. Happy trading!
Good buying op. Looking for 4-10% gain. Happy trading.
Major resistance line at 51.29. Good shorting opportunity. Keep a tight stop and cover if it closes strongly above 51.29. Happy trading.
MEET had a major jump late June and has since been trading in a 10% range. I believe the next trend will continue higher and believe that it is a good time to start opening a position. Earnings will be announced very soon so be careful. Happy trading.
MGM has been trading in this range since May of 2010. It is nearing the upper end with lower than average volume. Earnings are on Aug 6th so something big is gonna happen. Short-term trend is bullish but slowing. I will update as it becomes more clear which direction it will go. Also note that a close over 17 is definitely bullish. Happy trading.
Its short-term trading range is narrowing and its in the lower end right now. I am overall bullish on this chip stock and think the potential is greater up than down. You can play it safe and wait for a breakout at either end but you may miss out. Happy trading.
My previous LUV chart failed with a very little loss. But the idea is the same. Look on the weekly charts and you will see how this pattern is copying a previous pattern starting in Oct with similar highs. It is now testing a stronger resistance zone than my previous chart and formed a dark cloud cover at this zone.. Cover around 12. Happy trading.
Zoom out to see the overall picture. It just formed a major bearish dark cloud cover with a doji at a major resistance band. Short now and reap the rewards. Set stop at 44 and cover at 42.50 if it retreats quickly. Short again if it re-tests the resistance area again with a target of 41.50. Happy trading.
NWSA has been forming a great box range between 14.40 and 16 for a couple of weeks now. Check it out on a weekly chart. It is time for it to re-test resistance and I am gonna go short with a tight stop at 16.30. I am will take profits around 15 depending on how things are looking. Happy trading.
It looks like Southwest is testing a resistance zone and formed a nice doji. Place the stop loss around 13.75. Happy trading.