October 21, 2017

SINA Corp Testing support zone

  • SINA 4 Hour time frame shows price testing crucial support zone around 109. This time frame also shows price near 100 Period SMA. Price closing below these levels may complete The Triple Top. 
  • If price stays below 100 Period SMA Then stock may fall towards 100 Levels.
  • Bulls need to protect 109 for a reversal up move to start from the current levels.

ES Analysis after closing bell

  • Daily chart shows another MACD Bearish cross that Did not happen. Histogram of MACD Clearly shows a negative divergence But this too did not work and Bulls managed to take price up Before a Bearish cross of the MACD Lines could happen.
  • Hourly chart shows the resistance line of the recent pattern Acting as support.
  • Last chart shows immediate support levels in Hour time frame.