April 29, 2012

CISCO DAILY CHART
CISCO WEEKLY CHART

  • Daily chart closed below 20 SMA. Trading above 20 SMA can  give a buy signal in daily chart which   can  extend  this bounce.
  • MACD in weekly time frame is looking good for bears. MACD histogram is showing negative divergence. MACD lines have given a sell. Bears need price to close below 20 week SMA. Last weekly candle at 20 week SMA is looking good for a small bounce.
  • 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




  • A long trade looks likely in google daily if price stays above 20 and 50 day sma.
  • MACD of daily time frames is closer to a buy signal which should help bulls to target price towards the resistance line of a contracting triangle pattern.
  • S&P 500 WEEKEND UPDATE



Disclaimer

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.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore