January 18, 2014

  • BAC Weekly chart shows price at resistance line. Weekly chart is overbought and Daily chart shows negative divergence which may result in negative to sideways price action for few weeks.
  • Last chart shows price above the crucial 78.6% Fib level. Sustaining above this level may avoid a bigger fall. Bears need to close below this level for a bigger correction to happen.
  • SINA CORP Chart Analysis

  • SINA Corp daily chart shows bearish price action But price is getting closer to crucial support levels.
  • Presence of 200 Day SMA and support zone may give an oversold bounce before the fall could continue again.


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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