May 17, 2013

FACEBOOK Support and Resistance levels

  • One hour chart shows price below 50 Hour SMA.
  • 30 Minutes cloud and Golden ratio are also resistance levels.
  • Hour closing below 78.6% Fib level will extend the fall.

ES Support and Resistance levels

  • ES one hour chart with crucial support and resistance lines.
  • Second chart shows price continues to break upwards which is likely to continue.

DLF Chart analysis

  • DLF Resistance levels at 50 Day SMA and 5 Week High EMA.
  • Hour chart is showing weakness.
  • Unable to cross 5 Week High EMA may give a fall towards the range bottom which is at 227 - 228 area.

GOOGLE Bearish candlestick patterns

  • Google daily and hourly charts has prominent Bearish candlestick pattern.
  • Two Dark cloud cover patterns marked in daily time frame. Hour chart shows a bearish engulfing pattern.
  • Price closing the hourly GAP and closing below the 50 hoiur SMA or up trend line may give a meaningful correction.

Bank of America Broadening pattern

  • First chart shows broadening pattern in daily time frame. Price pausing at the resistance line
  • Hour chart shown with 50 Hour SMA. Price falling from the resistance line and closing below 50 Hour SMA at this stage may give a bigger correction as shown in the chart.
  • Price sustaining above 13.55 will negate the bearish scenario discussed above.