May 25, 2014

  • SINA Corp weekly chart shows price testing crucial support zone between 41 and 43
  • Daily chart shows a Bullish engulfing pattern.
  • Daily chart with macd shows positive divergence. Good upward momentum can happen only if price starts to trade above 50 levels.

  • IWM Daily chart shows price closing above the falling resistance line.
  • 50 Day SMA is the immediate resistance level.
  • Weekly chart looks bullish as price forms an engulfing pattern just above the cloud. If the price advance continues the engulfing pattern can be confirmed.


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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