January 8, 2012

QQQ Weekend update

  • Price staying above 57.62 levels will help bulls to extend gains.
  • 2nd chart shows price hitting the upper bollinger bands with Overbought Stochastic readings. Overbought readings may lead to a correction.
  • If the up move continues It may target the resistance line of a bigger contracting triangle pattern shown in 3rd chart. This resistance line for next week is around 58.60  to 58.70 levels approximately.
  • MSFT WEEKEND UPDATE
  • EXXON MOBIL ANALYSIS

Exxon Mobil Chart Analysis

  • There is negative divergence. Good resistance levels and Bearish candlestick patterns. But it will be safe to short only on a close below 20 Day SMA.
  • Stock will be weak below 85 levels. But positional shorts will be safe on  close below 20 Day SMA.
  • Trading above 86 will favor bulls to continue the current up move towards 88 - 89 levels.
  • MSFT WEEKEND UPDATE