QQQ Weekend Update

DAILY CHART

WEEKLY CHART

WEEKLY CHART

DAILY CHART

 

• First chart shows price breaking out from a diamond pattern in daily chart.
• 2nd chart shows Bullish engulfing in weekly chart. Bullish engulfing occurred before this one has worked well as shown in chart.
• 3rd chart sows a rising wedge pattern in weekly chart. But bears has to wait longer as price has spiked up above the sloping resistance line and a rally towards the resistance line of the rising wedge is possible.
• 4th chart shows price giving a bullish crossover 20 day above 50 day. Now if price holds 20 day moving average and break above 59.04 we will see big up move favoring bulls.
• Bears will be active below 20 day moving average and 55.30 levels.
• FORD MOTOR BULLISH ENGULFING