November 25, 2012

  • QQQ Daily chart closed above 20 Day SMA.
  • Next resistance levels in daily chart at 50 and 100 Day SMA which is at 66 levels.
  • Weekly stochastic is turning up from oversold zone which may result in a bigger up move.

  • INTEL Monthly candle hits the lower bollinger band
  • Weekly chart shows support at 19.16 levels.
  • Daily chart with MACD Histogram shows positive divergence, But price is yet to confirm a reversal in daily or weekly charts.

  • APPLE Closed the day above 20 Day SMA.
  • Immediate resistance level is the falling resistance line from 705 through 652. Above this line price may test its 200 Day SMA.
  • Weekly chart shows a turnaround and close above 50 Week SMA after 8 Weeks of negative candles for bulls. Sustaining above 50 Week SMA should extend gains for Apple Bulls.


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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