Look at the market all crashing more than 3%. Is this another repeat of 2008? This will be another chances to earn big money from buying the good stocks at low prices. We thought by forming a higher low 12 September will be a good base ground to move higher the previous high at 11716 but it fail to do so and reverse after hitting the 11595.
Observation
1) Trendline -Downtrend- (Bearish)
2) Formed lower high- (Bearish)
3) MACD -4G1R(Bearish)
4) RSI - Broke below 50% (Bearish) -
5) Sto - Formed Bullish Crossover and heading towards 50% (Bearish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick - Long Black Candle after a hanging man and shooting star (Bearish)
8) Chart Pattern - This shows a weak short term Head and Shoulder pattern which may lead to go down by another 550 points to 9651. Quite Scary if it break below the Psychological Support line at 10K.
0 Points
Conclusion
Observation
1) Trendline -Downtrend- (Bearish)
2) Formed lower high- (Bearish)
3) MACD -4G1R(Bearish)
4) RSI - Broke below 50% (Bearish) -
5) Sto - Formed Bullish Crossover and heading towards 50% (Bearish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick - Long Black Candle after a hanging man and shooting star (Bearish)
8) Chart Pattern - This shows a weak short term Head and Shoulder pattern which may lead to go down by another 550 points to 9651. Quite Scary if it break below the Psychological Support line at 10K.
8 Points
0 Points
Winner Bear ( Throw down wrestling style)
With all the bad news from Feds and Europe, Dow jones might be taking a big impact on this
With all the bad news from Feds and Europe, Dow jones might be taking a big impact on this
Resistance at 11895 and 12205
Support a 11011 ,10818 ( Watchout this might be the support line for Head and shoulder pattern bearish formation), 10576, 10365.
Daily Buy Call in Forum.. (Do not forget to view here for daily Stock Picks)
No comments:
Post a Comment