- First chart is the Weekly time frame with Fibonacci levels for the rise from $13.61 TO $27.74.
- Price is trading at 78.6% for the above mentioned range. Week candle has given a DOJI at 78.6% Fib level.
- Next chart shows a previous resistance turning as support scenario. Current week closing has acted as resistance previously and price is closer to the channel support line. So this confluence of support may give a bounce.
- Third chart shows MACD positive divergence which can help the stock to bounce.
- And if all the reasons fail stock may start to go down again so one should put a tight stop loss below 16.59 level.
- INTEL CHART ANALYSIS
- In weekly chart price is moving towards the resistance line which is between 22 and 23.
- Stochastic indicator has just turned up from oversold level, If resistance line gets broken we can see further upsides for the stock.
- Daily time frame shows a gap in chart which is negative for the bulls. But price is above 50 and 200 day moving averages Sustaining above this important for the bulls.
- THREE REASONS TO GO LONG IN CISCO
- Bank nifty with a possible inverted head and shoulders pattern.
- Breakout above 11950 level can give good trade.
- Range in daily chart too is not yet broken
- Range is from 11480 to 11950 level.
- ES is showing a range from 1322.75 - 1337.50.
- 1329.50 is the support resistance zone inside the range.
- Price breaking the lower or upper boundary can give good direction.
