April 29, 2012

CISCO Weekend update

CISCO DAILY CHART
CISCO WEEKLY CHART

  • Daily chart closed below 20 SMA. Trading above 20 SMA can  give a buy signal in daily chart which   can  extend  this bounce.
  • MACD in weekly time frame is looking good for bears. MACD histogram is showing negative divergence. MACD lines have given a sell. Bears need price to close below 20 week SMA. Last weekly candle at 20 week SMA is looking good for a small bounce.
  • BULLISH ENGULFING OF QQQ



Bullish Engulfing of QQQ

  • QQQ Weekly chart shows Bullish engulfing pattern.
  • There is no big change in volume which is required for an engulfing pattern.
  • Weekly MACD is getting closer to a sell  so for this engulfing to be effective follow up buying is required and a breakout above 68.55 will add strength for bulls.
  • Daily chart is shown with price above 20 and 50 day SMA. Price need to sustain above these two crucial moving averages  and above 68.55  to avoid a bearish  cross.
  • GOOGLE WEEKEND UPDATE



GOOGLE Weekend update


  • A long trade looks likely in google daily if price stays above 20 and 50 day sma.
  • MACD of daily time frames is closer to a buy signal which should help bulls to target price towards the resistance line of a contracting triangle pattern.
  • S&P 500 WEEKEND UPDATE