May 25, 2014

SINA Bullish engulfing and Weekly support level

  • SINA Corp weekly chart shows price testing crucial support zone between 41 and 43
  • Daily chart shows a Bullish engulfing pattern.
  • Daily chart with macd shows positive divergence. Good upward momentum can happen only if price starts to trade above 50 levels.

IWM Weekend update

  • IWM Daily chart shows price closing above the falling resistance line.
  • 50 Day SMA is the immediate resistance level.
  • Weekly chart looks bullish as price forms an engulfing pattern just above the cloud. If the price advance continues the engulfing pattern can be confirmed.