January 21, 2014

BLACKBERRY at Multiple resistance levels

  • Blackberry daily chart testing 200 Day sma.
  • Weekly chart is at Upper bollinger band
  • Bulls must try to close the day above 200 SMA for extending this up move further. Bearishness at 200 SMA may lead to a pullback.

IBM Analysis before Earnings

  • IBM Daily chart shows price testing the crucial 200 Day SMA. Daily chart is trying to form  a bullish pattern. There is crucial resistance between 190 in daily chart and 194 in weekly chart as shown in the last chart. Crucial support level is at 183 levels.

Reliance Communication Chart analysis

  • Rcom daily chart shows price near falling resistance lines. Bulls need a daily close above the resistance lines for extending the bounce.
  • Price is also seen testing 50 day SMA. Need a bullish candle above this line to confirm a bigger up move.
  • Weekly chart shows price at make or break levels. If price get resisted at the falling line another fall is likely which will test 50 week sma.