January 8, 2014

EURUSD Chart update

  • EURUSD Daily chart shows price testing 100 Day SMA and Rising support line from 1.27 levels. These two levels must break on closing basis for extending the current down move.

BLACKBERRY Bullish price action

  • Blackberry daily chart shows price closing above 100 Day SMA and Daily Ichimoku cloud.
  • Weekly chart has also violated the 20 Week SMA. Blackberry bulls will gain further strength on a weekly close above 20 Week SMA. 

INFOSYS Chart analysis

  • Infosys Weekly chart with MACD shows triple divergence. Price continues to trade above 5 Week Low EMA. Further weakness on price trading below the range in daily chart and the Week Low EMA.
  • Despite the bearish view above taking position against a news event is risky. One should follow proper money management rules so that it doesn't hurt the capital in a big way. 

Bank of America Resistance line and Bearish Engulfing

  • Bank of America weekly chart shows price testing a possible resistance line. Bears of BAC need a weekly bearish candle at this stage for a possible correction or a sideways correction to follow.
  • Daily chart shows bearish engulfing pattern and Negative divergence both needs confirmation. Bearish weekly candle may confirm weakness.