October 25, 2012

 
  • MSFT Weekly chart near up trend line.
  • Price is testing 100 Week SMA.
  • Closing below 100 Week SMA and Up trend line would target 200 Week SMA.
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  • ES One hour in a range.
  • For bulls price has to sustain above the Hourly cloud and 50 Hour SMA for a bigger up move.
  • Breaking below the range will help bears to extend the down move.
  • McDONALDS TREND UPDATE
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  • McDonalds staying below the Weekly cloud will continue to favor the bears of MCD
  • Price has fallen below 100 Week SMA. 
  • Bears of MCD Need a close below 85.92 - 86.15 zone for further extending gains.
  • Price staying below Weekly cloud is bad news for the long term trend of the stock.


  • 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
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  • IWM Weekly chart shows price testing the up trend line.
  • Daily chart is trying to hold above 200 Day SMA. These two levels should hold for the up move to resume.
  • Price is also testing weekly middle bollinger band. Closing below this level will lead to a bigger fall.
  • 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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"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