Trend lines show several possible directions for this week.
Trend lines drawn from 9/3 (12 bars), 9/15 (5 bars) and today 9/20 (1 bar).
Are you a bull or bear? Either way, this is an area to be careful. The three largest market cap (AAPL, MSFT and AMZN) are testing resistance, while the fourth (GOOG) is testing the 200d MA support.
Trend indicates anywhere from a 3.42% increase to a 5.73% drop. The upward move could put the index above the 50d MA which would be a great sign. I imagine that a test of that line would occur and then we'll end up somewhere below it.
Are you a bull or bear? Either way, this is an area to be careful. The three largest market cap (AAPL, MSFT and AMZN) are testing resistance, while the fourth (GOOG) is testing the 200d MA support.
Trend indicates anywhere from a 3.42% increase to a 5.73% drop. The upward move could put the index above the 50d MA which would be a great sign. I imagine that a test of that line would occur and then we'll end up somewhere below it.
Website: drewby.com
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
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