Showing posts with label 30 DMA. Show all posts
Showing posts with label 30 DMA. Show all posts
Monday, October 15, 2012
2012 October 15 - Close
Well, Gold finally fell a little. PCLN found good support, and JPM had some decent movement. GOOG continues to fall, so let's try to see if it finds support tomorrow. I could see GOOG making another run up to $775 - but only if volume supports it.
Thursday, October 11, 2012
2012 October 10 - CLOSE
I made some changes to the data that I pull every day. I added the 30 Day Moving Average price for each stock. It's at the bottom, and I will probably work on reformatting the chart some time today or tomorrow.
Regardless, this should give us an idea of whether an equity is bearish or bullish.
PCLN, IWM, and GLD are all bearish right now. GOOG, JPM, and XOM are bullish. Consider this when trading, as PCLN made a huge move down on heavy volume. JPM made a move up on good volume, and XOM made a move down on higher volume also. These indicators can signal where a stock is heading and whether traders are comfortable with holding these equities, in addition to other equities in the sector.
Regardless, this should give us an idea of whether an equity is bearish or bullish.
Wednesday, September 19, 2012
2012 September 19 - CLOSE
Wow. I've been slammed at work the past few days, but I am finally getting around to doing some charting. Here are some insights into what I've been seeing and what I'm hoping will happen over the next few days.
***
In looking at the volume numbers above, JPM, GOOG, and XOM were all seeing heavier volume today. JPM barely moved a tick up. Google made a big move up. And XOM took a nice move down.
I'm going to be keeping my eye on XOM tomorrow morning, as a move to the $90 level would support a buy. I mentioned Monday that I would look for a move back to $88, so anything in the $88-90 level has my attention - especially if 1/2 hour volume throughout the day supports a Buy. Google has moved up nicely, but I'm not sure this move will be sustained as my chart shows some intermediate resistance. I mentioned on Monday that some good volume could move this one higher, and it did. JPM is sort of in no man's land...STILL. The middle of the chart can be dangerous, so I'll be paying close attention to this stock on Monday/Tuesday (9/24 - 9/25) after options/futures expiry.
Gold (GLD) hasn't really been able to pump through past highs, which is a sign that the market isn't fully certain of QE(infinity)'s effectiveness. The USD reached a level of support, which means GLD doesn't really have much room to move. I mentioned on Monday that it could be primed for a fall, but check out thetedlines.com's public chart list for some more support resistance info on Gold. The Gold Bullish Percent index is at 72%, so any drop under 70% would signal an immediate sell in Gold.
Finally, Priceline.com (PCLN) started to move up, but is hovering just over an intermediate $635 support level. I'd consider buying if it moves back to this support area.
Finally, IWM is way overbought, in my opinion. If I had been paying attention on Monday, I would've charted out a channel and clearly seen that it was in the overbought range - which would signal an immediate short opportunity. Either way, not too worried, as we will always have more opportunities for trades.
***
In looking at the volume numbers above, JPM, GOOG, and XOM were all seeing heavier volume today. JPM barely moved a tick up. Google made a big move up. And XOM took a nice move down.
I'm going to be keeping my eye on XOM tomorrow morning, as a move to the $90 level would support a buy. I mentioned Monday that I would look for a move back to $88, so anything in the $88-90 level has my attention - especially if 1/2 hour volume throughout the day supports a Buy. Google has moved up nicely, but I'm not sure this move will be sustained as my chart shows some intermediate resistance. I mentioned on Monday that some good volume could move this one higher, and it did. JPM is sort of in no man's land...STILL. The middle of the chart can be dangerous, so I'll be paying close attention to this stock on Monday/Tuesday (9/24 - 9/25) after options/futures expiry.
Gold (GLD) hasn't really been able to pump through past highs, which is a sign that the market isn't fully certain of QE(infinity)'s effectiveness. The USD reached a level of support, which means GLD doesn't really have much room to move. I mentioned on Monday that it could be primed for a fall, but check out thetedlines.com's public chart list for some more support resistance info on Gold. The Gold Bullish Percent index is at 72%, so any drop under 70% would signal an immediate sell in Gold.
Finally, Priceline.com (PCLN) started to move up, but is hovering just over an intermediate $635 support level. I'd consider buying if it moves back to this support area.
Finally, IWM is way overbought, in my opinion. If I had been paying attention on Monday, I would've charted out a channel and clearly seen that it was in the overbought range - which would signal an immediate short opportunity. Either way, not too worried, as we will always have more opportunities for trades.
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