January 18, 2014

Bank of America Weekend update

  • 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 Analysis after closing bell

  • 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.