December 1, 2011
- Dell is near the resistance line of the triangle pattern.
- A bigger up move will happen if price is able to breakout of the triangle pattern.
- Price is staying above its 50 and 200 Day Simple Moving Average. For this up move to extend price has to breakout above the resistance line.
- Getting resisted at the resistance line or the upper bollinger band will result in a correction towards the base of the triangle pattern.
- ES RESISTANCE LINES
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.