September 22, 2015

  • Month chart shows previous support acting as resistance.
  • Weekly chart has cloud as resistance.
  • Pattern is a basing formation in week and daily chart but the above mentioned resistance levels will make it hard for bullish moves to happen.

  • Netflix month chart shows a bearish possibility. If the current month closes here or lower can confirm further bearishness in chart.
  • Trading below 90 and 85 levels can take the stock towards 70 levels. Daily too looks topish.

  • BAC Weekly in a range between 14 and 18 levels. Daily chart shows the 200 SMA as the middle of the range. Price for now is in the bearish side of the range. Daily is moving between 23.6% and 50% Retrace 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