We provide Our View of Technical Analysis and Information about US Stock Market Indices and Individual Stock.
Reynolds American Inc Com (RAI)
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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.
TJX Weekly Chart (normal scale) TJX has been bullish since 2009... Since 13 September 2012, TJX seem to make a retracement move... From 9 November 2012 till 5 February 2013, TJX likely to make a retracement with an ABC pattern.. 1. Agressive Trader. Might enter this level with a stop loss at 47.25... 2. Pattern Trader. Might enter after price break red trendline... 3. Conservative Trader. Might enter after price break the low at 9 November 2012 TJX Daily Chart (logarithmic scale) On daily chart, we observe price - MACD divergence and price - RSI divergence... On both scale drawing, seem that a break below red trendline might turn into a free fall...
DJIA - Daily Chart - Normal Scale Dow Jones Industrial Average is in the over bought level, but over bought doesn't mean over. Still showing strength in daily chart, but there is a divergence in weekly chart. SPX - Daily Chart - Normal Scale S&P500 showing a possible price and RSI divergence. Have a very major resistance at 1576. Have a support at 1474. A break below lower green trend line is a possible bearish case. NASDAQ - Daily Chart - Normal Scale NASDAQ is the weakest among the indices. Showing a divergence on both RSI and MACD. When bearish sentiment enter the market, this indices might have a bigger pullback. A break below the red trend line will be a good condition to set up a bearish trade. Russel 2000 - Daily Chart - Normal Scale Russel 2000 is the leader of the last bullish move since September 2012. The chart also showing a divergence on RSI. Have to wait for several day to see if the price action agree to that divergence ...
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.
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