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.

Disclaimer

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.

Followers

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