May 4, 2014

  • Groupon Weekly chart shows price nearing the crucial golden ratio. Weekly chart is yet to hit this level and it's yet to show a reversal.
  • Daily charts are showing positive divergence But price yet to confirm a reversal. Price trading above the channel shown in last chart may give a reversal for Groupon.
 
  • EBAY Testing 100 Week SMA and Weekly cloud.
  • 2nd chart shows the crucial weekly range. Price has given 2 false breakouts from this range. If price gives another breakdown along with a close below 100 Week SMA and Weekly cloud a bigger breakdown is possible. 
 
  • Blackberry Daily chart shows price near falling resistance line. Sustaining above this line on closing basis may take BBRY towards 8.95 levels. 8.95 is the support level of a previous range.
  • Price has also moved above 23.6% Fib level. Sustaining above this level it may target 38.2% and 50% Fib levels.



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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