May 19, 2014
- CNX IT Got resisted at 50 Day SMA during the news day and moved lower towards the crucial support zone of 200 Day SMA.
- For bigger down moves price must close below 200 Day SMA.
- Trend will remain weak below the daily cloud. For IT Bulls price must sustain above the daily cloud for bigger up moves to happen
- JC Penney trying to stay above the falling resistance line.
- Weekly chart shows price in a consolidation range. If price stays inside the range longer the breakout will be bigger.
- Weekly cloud may act as immediate resistance. For longer term up moves price must trade above the weekly cloud.
- IWM TRIANGLE PATTERN