January 15, 2014

  • Tesla Weekly chart shows price violating 20 Week SMA. Bulls need a weekly close above Middle bollinger band to further gain strength.
  • Daily chart shows price closing above the falling resistance line and the 100 Day SMA. Sustaining above these two levels will favor bulls of TESLA.
  • Last chart shows potential resistance in Golden ratio. Bulls need to takeout this level to extend gains.

  • Cisco daily chart shows confluence of resistance at the current level. Bullish close above these levels on closing basis may extend this up move to close the GAP in chart completely.
  • Bearish daily and week candle here may resume the down move.


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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