kungfuguo

kungfuguo

For the past 5 weeks, we have been moving a long a bullish channel. This week, we arrived and broke the strong down-trending resistance line. This is important for a few reasons. #1: as shown on daily charts from yesterday, this down-trending resistance line was tested multiple times, but rejected each time, sending the stock down each time. As we break...

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AAPL looking bullish here. It broke through the strong down-trending resistance line (dash line) on Tuesday. Note, this line was tested but never broken since Feb 2013. How we are seeing a series of ascending triangles (purple), supported by multiple near term support lines.

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Google to test key support. As shown on this graph, Since May, Google has been dancing around $860-$920 range. There has been 2 peaks in this channel (circled). Couple things I want to point out. First, the key support line is labelled in purple, and must be protected at all cost. If it closes below the support line, I would expect a push down to low $800s,...

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Looking at this chart. Google has been going up, with 4 peaks in the past 12 months (pink circles). Each peak is higher than the previous. However, the volume has died off quite a bit since the 2nd peak (red arrows), suggesting exhaustion of buyers. In addition, there is divergence on MACD histogram and RSI. These are suggestive of bearish trend ahead. ...

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AAPL has been taking a beating in the 7 months. The stock has been pushed down by the powerful down trending resistance line. Multiple attempts (red arrows) were made but none consistently broke the resistant line. In the past 4-5 weeks, we are seeing the build up of another attempt in breaking out this resistance. What's different about this one? Couple of...

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I plotted the chart on the Fib grid to analyze support and resistance levels. As you can see here, $95 (38.2% retracement) has been the strongest near term support, followed by $101 (50% retracement). We had a fabulous week, finishing the week at $109, which corresponds to 61.8% retracement. Note, last time it approached this level, it was sharply rejected,...

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Here is a weekly chart for SI. I plotted on the fib grid to look at the near and long term supports and resistances. What I want to point out here is that we finished the week at the key resistance of $109, which corresponds to retracing of around 61.8%. Last time this was rejected, which was followed by a mini-down trend, until it found the support around $95....

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Moving along what we have been watching and expecting. Note the bearish evening star DOJI, followed by 4 days of brief downtrend last week. The uptrend continued shortly thereafter. Now, we are at $107.7. The candlestick pattern looks like dragonfly doji, which could be bearish. If bearish, this is expected to be short term, lasting a couple days or so. The...

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FB is looking bullish right now. Currently, it is in the bullish channel moving up to short term target of $28-$29. Note that this up trend is supported by EMA 5. Expect strong resistances at $28 and at $29. Bullish for now. Disclosure: I am long FB.

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After a period of bearish trend, it has found the bottom around $23 range. After a period of consolidation around $23.50-$25 range, it is on its way back up. The MACD is looking bullish. I expect it to rebound to the $27-$28 range to retest the key resistance level there. If rejected, I expect that to additional downtrend. MACD at 0.4 is the key.

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This is an update on the chart that was published previously. As observed, there is a very strong support line that is labelled in blue, which has been hold up so far. This is supported by the MACD and RSI, and have not been broken thus far, since Dec of 2013. I expect the stock to continue to trend up to the 106-110 area, and possible pull back to the support line.

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SI has establish a strong support line and has been bouncing off this support line 3 times for the past 6 months. While RSI and support line are down-trending down, I do expect, in the short term, the stock price to go up, but the peak will likely be lower than the previous highs.

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AIG has been in consolidation pattern since May, but now forming a descending triangle with short term support at $44.50 and $43.25. Volume has return to normal. However, I expect a break out from consolidation shortly. If it is unable to hold about these support levels, expect breakdown to fill the gap at $42-$43 range.

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FB - has it hit the bottom yet? Over the course of last month, FB has lost about 20% in stock price, comparing to XLK (tech sector in general). In the past few days, FB stock price has stabilized and has began to trend up. MACD is in the positive territory. However, a careful analysis would suggest that the worst may not be over. (1) the volume has been...

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Expect continuing weakness ahead

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Possible bearish trend ahead

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Descending triangle on 5 minute chart, bearish

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Head and shoulder formation in progress. Formation of right shoulder. Lower high on RSI and MACD.