January 12, 2013

  • INTEL Daily chart shows price above the daily Ichimoku cloud after a long GAP.
  • Price is also testing 100 Day SMA. Bulls need price to sustain above 100 SMA for the current up move to extend.
  • Weekly chart shows the immediate target line or resistance line for this up move. Weekly MACD Buy signal is looking good for bigger up moves on breaking above the resistance line.
  • RIMM WEEKEND UPDATE
-->
  • First chart shows Weekly chart of JPM with price breaking above falling resistance line.
  • Second chart shows price approaching Crucial resistance levels.
  • Last chart shows price moving up in a channel with reducing volumes. As price approaches resistance levels volume need to pick up if a breakout happens. Bearish weekly candle with high volume may result in bigger correction.
  • RIMM WEEKEND UPDATE
-->


 
  • RIMM's Golden cross is supporting bulls for now.
  • Daily MACD is showing a buy signal which will work well on price sustaining above 14.21 levels.
  • Bearish engulfing in weekly did not perform well. 50 Week SMA stopped the fall and price is trying to negate the bearishness of that candle. Price trading above the bearish candle should take RIMM towards 17 levels in the short term. Unable to trade above recent high's may result in a breakdown below 10 levels.
 
  • Weekly MACD shows a Buy signal and price closed above 20 Week SMA. Price sustaining above 20 Week SMA Will help this MACD signal to perform well.
  • Daily chart shows price closing above the Golden ratio.
  • Last chart shows the immediate target or resistance level if the up move continues.


 
  • EURUSD Daily chart rising from 50 Day SMA.
  • Weekly chart shows price moving towards 50% Fib level.
  • For now price is testing its immediate resistance level of 100 Week SMA. Week must close above this level for extending this up move.
-->


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