August 22, 2013

Bank of America Channel and Bull Flag

  • Bank of America Hourly chart shows price testing resistance line of the channel
  • Daily chart shows a bullish Flag pattern.
  • Price testing 20 Day SMA. Closing day above 20 SMA may lead to a breakout from these patterns. Failure to close above 20 SMA should lead price towards Hourly channel support line.
  • TESLA Ascending Triangle

TESLA Ascending Triangle breakout

  • Tesla 2 hour charts with ascending triangle breakout
  • Sustaining above 150.50 this one should target 158 and 165 levels.
  • Weakness below 150 and possible trend change below 146 levels.
  • APPLE Bearish Engulfing and Inside Day pattern

Crude oil support and Resistance levels

  • Crude oil hour trending down below 50 Hour SMA. Support level in hour is at 103.50
  • Daily chart has fallen below 50 Day SMA. Crucial support zone in Daily chart is between 10.24 - 102.67

Hewlett Packard bearish price action

  • HP closed below 50 Day SMA
  • Weekly chart shows support confluence in weekly chart at 23.6% Fib level and 20 Week SMA at 23.89 and 24 levels. Closing Below this zone may give an extended fall for the stock.
  • Weekly chart also shows negative divergence and a MACD bearish cross.
  • APPLE Bearish Engulfing and Inside Day pattern

APPLE Chart analysis

  • Apple Daily chart shows a bearish engulfing and Inside day pattern. Breaking the 2 Day High or Low may give good moves for the stock.
  • Weekly chart shows Crucial Fib level at 307. Closing the week above 507 is crucial for Apple Bulls.

ES Chart update

  • ES Daily chart shows price below 50 and 100 Day SMA.
  • Crucial Fib level of 38.2% is taken out and price is nearing 50% Fib level which may give a bounce.
  • Next big support levels in daily chart are the rising support line and 200 Day SMA.