October 25, 2012
- Facebook Daily chart shows price with two unfilled GAP's. Price sustaining below 22.54 level should start to fade yesterday's GAP.
- Price is unable to close above 100 Day sma. If bulls make it above 100 SMA then price may test the GAP between 24.54 - 26.73.
- There is a MACD Buy signal in daily chart which needs price to stay above 100 SMA for doing well.
- IWM CHART ANALYSIS
- First chart is the channel of Tata Steel. Price is getting resisted near the top of the channel. Bears of Tata steel need price to fall below 50 Day SMA for a bigger down move towards the bottom of the channel.
- Daily chart is also showing a Bearish Death cross this will also be effective only on price breaking 50 Day SMA Level.
- Bulls need a breakout above the channel and 200 Day SMA For a bigger up move.
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