TipTVFinance

TipTVFinance

Despite the sharp sell-off from 0.7556 this week, the RSI is still sufficiently far away from the oversold territory. That means there is enough room for a drop to 0.7311 (Nov 21 low)... especially if the US data betters estimates. Only a horribly weak US wage growth numbers could yield a recovery to 0.7455 (5-DMA) levels.

TipTVFinance

Bearish spike candles (candles with long upper shadows) coupled with bearish RSI suggests the share price is likely to test the trend line support is seen around 4400 levels. Only a daily close above 4817 (April 27) would revive the bullish view.

TipTVFinance

Thursday’s bullish engulfing/bullish outside day candle, coupled with a bullish break from the rising channel signals continuation of the rally from the low of 1.0341 (Jan low) and could yield a break above 1.10 levels. However, in the current situation i.e. a day ahead of the French election it is advisable to stay on the sidelines despite the bullish break on...

TipTVFinance

The monthly chart shows a bullish breakout from the falling wedge/triangle/falling trend line. April’s close was also above the key technical resistance of 43.90. The RSI has breached the falling trendline. The MACD is gathering steam, while the accumulation/distribution has bottomed out, suggesting the sellers have run out of steam. The RSI is overbought on...

TipTVFinance

Pair’s sharp recovery from the one-week low of 1.2830 following an upbeat UK service PMI and move back above the upward sloping 10-DMA suggests the odds of a move higher to 1.30 - 1.3009 (127.2% fib extension level) are still intact. A daily close above 1.2871 today would add credence to the bullish view. On the downside, only a daily close below the 10-DMA...

TipTVFinance

A daily close above 1.0965 (rising channel resistance) would open doors for a continuation of the rally from the low of 1.0341 and could yield 1.11 (zero figure) and 1.1142 (Apr 11 high). The spot has formed a nice base around 1.0850 over the last two weeks. On the lower side, only a break below 1.0838 (200-DMA) would revive bearish view.

TipTVFinance

Failure to hold above the head and shoulders neckline followed by a violation at the critical support at 7197 (Apr 28 low) would open doors for a fresh round of sell-off to 7096.8 (Apr 20 low) levels. On the higher side, only a daily close above 50-DMA level of 7306 would revive bullish view.

TipTVFinance

Last month's bullish close above 1.3588 and the golden crossover - bullish crossover between 50-DMA and 100-DMA - suggests the doors are open for a break above 1.40 levels. The monthly RSI is looking upwards and is well short of the overbought territory...Only a monthly close below 1.35 would signal bullish invalidation.

TipTVFinance

A weekly close above 1.10 would signal the sell-off from 1.3993 (May 2015 high) has ended at 1.0341 (2017 low). Bearish scenario – Failure to hold above the weekly 50-MA would open doors for 1.07 levels.

TipTVFinance

Failure at the rising trend line resistance coupled with the falling top formation on the daily chart suggests the share price is on track to test the 200-DMA support seen today at 687.31. The 50-DMA has topped out as well and that adds credence to the bearish view.

TipTVFinance

Golden crossover is a bullish crossover between 50-MA and 200-MA. The daily chart shows 50-DMA is close to crossing the 200-DMA from below… that could happen if prices rally over the next couple of days. The rising trend line is intact on the price chart and RSI. Only a daily close below the rising trend line would signal the rally from the Dec low of $1122 has...

TipTVFinance

The daily chart shows - the index breached a smaller head and shoulders pattern on April 18. The neckline was retaken last week, but the index failed to sustain above the same. The neckline has acted as a strong resistance today as well. A daily close below 7197 would open doors for revisit to 7100 levels (neckline of a bigger head and shoulders neckline). On...

TipTVFinance

The share currently trades at 1080. A sell-off to 872 means 19% drop! This the downside target as per the measured height method. Take note of the large head and shoulders breakdown pattern. The daily RSI is close to but not yet oversold. The weekly RSI shows a nice rounding top pattern and is sufficiently far away from the oversold region. We also saw a...

TipTVFinance

The bullish break from the ascending triangle has opened doors for 1.40 handle. The weekly RSI is rising and well short of the overbought territory... however, the RSI on the daily chart is overbought. thus one can expect a pull back and sideways action around 1.36 (Dec 2016 high) before rally to 1.40.

TipTVFinance

The daily chart shows a textbook topping pattern… here is the sequence – Bearish RSI divergence Breach of the rising trend line followed by sideways action Bearish breakdown of sideways channel & Now a falling channel Looks like the share price is set to take out support at 292 and test the falling channel floor around 282 levels.

TipTVFinance

Two consecutive weekly close above 1.2775 (Dec high) levels coupled with the bullish RSI suggests the dips to/below 1.2775 are likely to be short lived. Nevertheless, upside looks capped around 1.30 … the weekly 50-MA is still sloping downwards, which suggests more time could be spent in the range of 1.2775-1.30 before further upside unfolds.

TipTVFinance

The base formation around 310 levels followed by last week's jump to 335 coupled with the rising bottom formation and an upward sloping 50-MA suggests the stock is likely to re-test 380 levels. On the downside, only a weekly close below 310 would signal bullish invalidation

TipTVFinance

The weekly 50-MA stands at $51.04, while the 23.6% Fib retracement of Jan 2016 low and Jan 2017 low stands at $50.98 The dips below the confluence of key levels provide to be short lived this week. On the higher side, the rising trend line is capping gains. The RSI has topped out… so the odds of a bearish breakdown are high, however, as of now prices are in the...