- AAPL has closed exactly at the weekly trend line.
- Further weakness on this stock will be seen only if the trend line and the range gets broken.
- Next chart shows price trading at the lower end of the range. 320 is an important level for bulls to defend.
- Weekly chart has a bearish engulfing and shooting star candles . But for weakness to continue price should break this trading range on the downside.
- SPY WEEKEND UPDATE
June 12, 2011
- This Range of reliance in weekly chart has given some great trades.
- Last Successful trade of RELIANCE was SELL the weekly stochastic. which gave great result.
- Now again Stochastic is giving a buy.
- Stock should remain above 919 level on closing basis for this trade to work well. If all goes well i am expecting reliance to cross 1000 in the coming weeks.
- RELIANCE - SELL the weekly stochastic
- BIDU Daily chart shows price near support level 115 - 118.
- Price is also near its 200 Day moving average which might result in a bounce from this level.
- Stochastic in daily chart is in oversold area
- Weekly chart also shows price hitting an important trend line.
- Price closing the week above 120 will favor bulls. Price closing week below 120 will make the structure further weak.
- FALL OF BIDU WAS PREDICTED HERE - PIN BAR REVERSAL
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