February 16, 2014

  • Up move in daily chart continues to pause at 200 Day SMA.
  • Bulls need a close above 100 - 101 zone for bigger up moves to happen.
  • Hour is trading above the cloud. Price continues to be in a range in hour chart. Weakness only if price starts to trade below the hourly cloud.

  • Ford weekly chart shows price taking support at the crucial 14.3 level which has acted as support and resistance levels in the past.
  • Price has bounced from the above mentioned level to the 20 Day Moving average. MACD alignment is looking bullish but price has to stay above 20 SMA for a bigger bounce to happen.
  • This up move will find it tougher to sustain at higher levels because of the Death cross. For the Death cross to perform well price should break and close below 14.3 levels.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

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