Reynolds American Inc Com (RAI)

RAI - Daily Chart - Normal Scale
Since Mid November 2012 till today, RAI seem to form an ABC correction.
Today price action might be a wave C break down.
I will manage my risk to enter a bearish trade.
I put my stop loss at 45.5 level.
Location: Surabaya, Indonesia

Comments

Post a Comment

Popular posts from this blog

LuluLemon Athletica Com Inc (LULU)

Image
LULU - Daily Chart - Logarithmic Chart SP500 break the resistance, looks like market still have a power for bull to continue higher. LULU supported at level 65. There is a bullish divergence at MACD and RSI. LULU hang on strong when SP500 get lower since 2 week ago. I expect LULU might move to the upper red down trend line.
Read more

Facebook Inc Com (FB)

Image
FB - Daily Chart - Logarithmic Scale FB sit very tight at his support level at 26.8. I expect 2 scenario. FB might move in trading range between 26.8 - 32. FB form an ABC correction and stop at next support at 25 or 23.3. I want to see how price move from today. If price can break green down trend line, then I might enter a bullish position after a retracement. Resistance at 29 and 32. I prefer to enter a bullish trade after I see a possible full retracement on FB. I think it might settle at 25 support level.
Read more

Weekly Review

Image
DJIA - Daily Chart - Normal Scale DJIA make a new high but we find divergence on MACD and RSI. This one is the leader of this bullish move. It's often happen in the past, most trader see DJIA as a benchmark about how US Market perform. While they don't see the majority of stock heading. When DJIA break the trend line, I expect a bearish move in stock market. SPX - Daily Chart - Normal Scale SPX might forming first ABC pattern in a possible topping formation. I expect SPX to trading range between 1470 -1530 within 2-3 weeks. A break to either side might initiate a bigger move. Personally I expect a break to the support. Please check 4 hour chart on SP500 Future too,there is a down trend line still attached to the tops. NASDAQ - Daily Chart - Normal Scale Similar to SPX, NASDAQ might move in trading range within 2-3 weeks. But NASDAQ sit at the trend line. Russel 2000 - Daily Chart - Normal Scale Russel 2000 already break the trend line. There is a
Read more