July 20, 2013

  • First two charts of Microsoft shows weekly time frames with levels which can give a bounce.
  • Last chart shows the Weekly MACD Sell signal, this one need price to close the week below 50 Week SMA for a bigger fall to happen.

  • Tesla daily chart shows bulls getting support at the rising support line.
  • Price managed to close back above 20 Day SMA after taking support near 50 Day SMA. For next week Weakness on price trading below 20 Day SMA 
  • In spite of the up move or bounce the weekly chart shows a bearish engulfing pattern which will be effective on price trading below 114.9 levels.

  • Apple daily chart shows price making bearish moves and Daily RSI turning down from overbought levels.
  • Daily chart also closed below 50 Day SMA.
  • Weekly chart has given a bearish Doji like candle which has failed to close above 20 Week SMA.


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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