May 2, 2013

MONTHLY CHART
 
  • APPLE Monthly chart shows a Bullish Dragon Fly Doji. Monthly chart shows the Bearish PIN BAR at the top which was followed by a correction. If the Dragon Fly works well stock could do a decent bounce.
  • Apple bulls does not want price to move below 50 Day SMA which will be followed by another correction towards the lows. Daily cloud has acted as stiff resistance so far, Price closing into the cloud will signal further strength for bulls.
  • IWM CHART UPDATE
-->
  • IWM Daily chart shows price closing below 50 Day SMA.
  • Weekly MACD has a sell signal, But price is yet to confirm a breakdown in weekly chart.
  • Crucial levels for IWM Bears to close below are 23.6Fib level, 20Week SMA and more importantly price should close into the channel shown in second chart to weaken IWM Bulls.
  • CNX IT Weekly chart shows price yet to test the rising support line.
  • Weekly chart is below Ichimoku cloud. Price closing back above it can be bullish.
  • Daily chart may gather momentum only if price is able to close above 5 day High EMA.

 
  • ES Has broken below the hourly trend line.
  • Price has also broken below 100 Hour SMA. Next possible level to hold for ES Bulls is 200 Hour SMA
-->

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