November 7, 2010

APPLE DAILY CHART WITH CHANNEL
  • Apple was resisted at the high of 319 on friday. 
  • If the stock breakout above this level that can start the next big up move for this stock with initial targets of 330.
  • The channel shows in the second charts looks strong. it shows a stock which is in strong up trend. So until the weakness is shown in chart it will be safe to go long in this stock.
  • MSFT WEEKEND UPDATE

USD HNS BREAKDOWN
  • US Dollar violated the trend line drawn in its weekly chart. But USD managed to get back above the trend line.
  • The head and shoulders breakdown is targeting around 73.
  • If the weekly support line does not hold we may see 73. 
  • USD has good support around 73 - 74 area.
  • DOW JONES EOD UPDATE
BIDU DAILY CHART WITH 20 DMA
BAIDU DAILY CHART WITH TREND LINE
  • BAIDU is showing good support at 103 levels in its daily chart.
  • 20 DMA has been giving good support for the stock recently as shown in the highlighted area.
  • Daily chart is also showing a good trend line that the stock has been respecting so far.
  • To summarise despite the correction the up trend is still intact.
  • MSFT Weekend Update
  • DOW JONES EOD UPDATE
  • MSFT is finding it tough to move away from its 200 DMA. Last week stock went above the 200 DMA, then it came below it and the weekend close was at the 200 DMA.
  • The crucial levels to look for in the daily chart is 26.38 as main support and 27.49 as resistance a clear direction may emerge once the stock closes above or below the ranges mentioned. 
  • The Fibonacci levels are also showing resistance at 50% Level.
  • Staying above 50% can give 28.19 as first target.
  • Breaking below 50& level and 200 DMA can take it back to 26.10 level.
  • DOW JONES EOD UPDATE

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore