- Google testing 20 Day SMA.
- Price below the cloud in hour chart which may help google bears to extend the down move.
- Four hour chart shows next crucial support zone between 855 - 860 which is the 38.2% Fib level and 50 period SMA.
- HEWLETT PACKARD CHART ANALYSIS
May 24, 2013
- HP Daily chart shows price closing above the recent high's with good volume spike.
- Weekly chart also shows a likely bullish close above 100 Week SMA. If the weekly close is above the recent high's shown in the first chart then bulls will be able to extend this up move into the coming weeks.
- Possible resistance at 25.91 Weekly close above this level may extend the up move towards 30.39 levels. Weakness Closing back below 24.05.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Price closed below 20 day sma and is testing 5970 level. More falls in nifty only if price stays below 5970 levels.
- Immediate support at 38.2% Fib level.
- If price trades below 38.2% Fib level then price could fall towards 50 Day SMA and 50% Fib level. For bulls though an up move is possible if price stays above 5970 levels.
- NIFTY BEARISH ENGULFING AND DIVERGENCE
- BAC Fall from Broadening pattern resistance line took support at 12.80 levels.
- Daily chart shows price moving up from 20 Day SMA. So further weakness only on breaking below 20 Day SMA again.
- Strength on trading above the resistance line of the broadening pattern. Price did a false move earlier above the pattern. Bulls need a daily close above the resistance line for a bigger up move.
- SPY SHOOTING STAR
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