A weekly candlestick pattern shows that the SPX is currently hitting the resistant level at 200MA and it shows rejection at this level.
This shows a weeks-long shorting opportunity.
If the price is build up this week, it would confirm the short term down trend. Monitor the 20EMA and 40EMA.
The chart shows that DJI is dropping almost 30% from its recent high at the historical time frame.
For those who having long position I do not think it's time to let go because what goes down will come up and find it's footing.
It has to rally it back before another major drop. Thus it would make sense to hold on until you gain back some.
Be cautions, this is a...
The potential buy point is one of the crucial line. Breaking above will allow it to continue stay healthy and I entered a position just above the line and still holding it.
Looking at the chart above. BABA looks like might go through this big roller coaster ride.
It may start coming down anytime soon or it may break above higher. What's your take?
Chart showing a double bottom (yes, althought the stocks is not technically in downtrend for a proper double bottom to work) and it break out above the recent good resistant. Fundamentally strong with huge potential.
RISK:
- Currently trading at high
- Company debt is huge as well comparing to cashflow
BABA had been doing quite well in year 2017. People likes to compare BABA with AMZN as their business model do have similarities.
Looking at the chart you can see that 150MA and 200MA is still on the uptrend indicating a medium to long term bullish of this stock.
It formed a hammer at the bottom of the recent fall and it's seems bulilsh for now. Monitor the price...
Looking at the technical it doesn't seems like time to either buy or sell.
The price is still in the short term down trend trading within the channels.
SPY had broke below it's 50SMA and is currently waiting to see if it's holding at 150SMA and 200SMA which is still pointing up and is still consider long term uptrend.
