- As the last chart shows Tata Motos is in a broad range. Price testing crucial support at 282 and 50 Day SMA. Bears need a close below these to levels to target 251 levels. Sustaining above 282 may lead to an up move towards the top of the range at 311.
- First chart shows price closing below 200 Day SMA. This chart also shows this down move started with a Dark cloud cover candlestick pattern which has done well so far.
- 2nd chart shows price not holding a possible support line which is likely to strengthen this down move.
- Only hope for bulls now is the golden ratio. If price takes support around these levels we may see a pullback.
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APPLE IN A DIAMOND PATTERN
- S&P 500 Weekly chart shows negative divergence. Price is showing weakness in weekly time frame but no sell signal yet.
- Daily MACD shows a sell signal but has support at 20 week SMA and price support at 1636. These two levels has to break for a bigger fall to follow.
- One hour chart is trading below the cloud. Bulls may gain strength on moving back above the cloud.
- APPLE IN A DIAMOND PATTERN
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- Diamond patterns can go both ways. In this case since the pattern has come after a big down move bulls can expect a Diamond bottom.
- If the overhead resistance levels of 100 Day SMA and 20 Week SMA acts strong then this will be a continuation pattern which will help bears to extend the major trend of the stock.
- We may see a decisive breakout/breakdown in the coming week. Weakness below 434 levels and Strength above 453 level.
- FACEBOOK CHART ANALYSIS
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- SPY 30 Minutes chart shows a range between 163.95 - 165.90. Usually a range after a sharp down move is considered a bearish consolidation. So a breakdown below 163.95 is likely to happen.
- If price moves above 165.90 the cloud and 100 period SMA Shown here may act as resistance.
- SPY SHOOTING STAR
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- Google testing 20 Day SMA.
- Price below the cloud in hour chart which may help google bears to extend the down move.
- Four hour chart shows next crucial support zone between 855 - 860 which is the 38.2% Fib level and 50 period SMA.
- HEWLETT PACKARD CHART ANALYSIS
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- Facebook testing 200 Day SMA. Price is also near the Golden ratio.
- Weakness below 24.72 which will target the Golden ratio at 24.03. Strength on closing above 25.65 levels.
- Daily line chart shows some more downsides before a turnaround could happen.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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