January 9, 2013

McDonalds Resistance levels

  • McDonalds weekly chart near 50 Week SMA.
  • Weekly chart is also approaching its resistance line from 102 levels.
  • Weakness at resistance line may give a sell signal.

SLV Chart update

  • SLV Daily chart shows MACD Buy signal.
  • Price need to stay above 20 Day SMA for an up move to happen
  • For a bigger up move Price need to stay above 50 Week SMA.

GLD Chart Analysis

  • GLD Bulls trying to hold above its 100 Week SMA.
  • GLD Weekly stochastic is oversold Which will help bulls only if price is able to sustain above 100 Week SMA.
  • Last chart shows price near a crucial support resistance level (156.9 - 158)

YAHOO Chart analysis

  • Yahoo daily chart shows support near 19.20 levels.
  • Weekly charts previous resistance levels may also act as support level for the stock.
  • For the very short term price sustaining above 20 SMA will favor bulls of Yahoo.

NIFTY Chart Analysis

  • First chart shows price tying to take support at a short term trend line
  • The two gaps discussed during earlier GAP's has given support so far. First GAP is faded and only the GAP between 5919 - 5935 remains.
  • The resistance level of the range is now trying to act as support.
  • 5 Day High EMA is acting as resistance. 5 Day Low EMA as support level. Need a daily close beyond these levels for a bigger move to take place.

Reliance Communication Golden Cross

  • Weekly charts shows price trying to break above the weekly cloud and trying to stay above multiple resistance lines
  • Daily charts shows two golden crosses. First one did not perform well and ended up as a Head and Shoulders breakdown. This time too there are similar opportunities for bears. But for now its good to stay with the short term trend which is up. One has to look for divergences and price weakness in daily chart and have proper trailing stop losses for longs.