April 29, 2012

Bullish Engulfing of QQQ

  • QQQ Weekly chart shows Bullish engulfing pattern.
  • There is no big change in volume which is required for an engulfing pattern.
  • Weekly MACD is getting closer to a sell  so for this engulfing to be effective follow up buying is required and a breakout above 68.55 will add strength for bulls.
  • Daily chart is shown with price above 20 and 50 day SMA. Price need to sustain above these two crucial moving averages  and above 68.55  to avoid a bearish  cross.
  • GOOGLE WEEKEND UPDATE



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2 comments:

  1. babu erodeApril 29, 2012 at 9:15 PM

    San,

    Please look in to INR and give details about its movements

    Thanks in advance
    R.N.Saravanan

    ReplyDelete
  2. SanApril 29, 2012 at 10:21 PM

    @babu erode
    I will try to do a post before tomorrows opening bell on INR.

    ReplyDelete

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