August 10, 2013

  • Google shows a symmetrical triangle at the top of the trend. Weekly indicators are looking overbought which may result in a bearish breakdown. Price closing below the support line may target 100 day sma initially.
  • Strength in daily chart only if price moves back above 50 and 20 Day SMA.
  • APPLE Weekend update

  • Apple weekly chart has given a negative candle at upper Bollinger band.
  • Daily chart also shows price moving down from 200 Day SMA and previous resistance levels.
  • For apple bears need to break below the rising support line and 23.6% Fib level shown in last chart to extend this correction further.

  • Blackberry has violated the initial resistance level shown in one hour chart.
  • One hour is showing a bullish cross with 50 and 200 Hour SMA.
  • Price has to move above 23.6% Fib level shown in 4 hour time frame for a bigger up move to happen.


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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