The long doji indicated that market didn’t make up mind yet on where to go next. We need some push to break the overhead resistence.
Tag Archives: Resistence
QQQQ
QQQQ remains strong in the uptrend, but let’s see if it can break this resistence.
MSFT
MSFT is forming an ascending triangle. Let’s see if it breaks out the resistence at 25.5.
INDU and QQQQ
It looks like every bounce has met with selling, so the SMA 20 becomes the overhead resistence for a while. I plan to reduce 1/3 position if INDU reaches 10350.
QQQQ looks worse.
SLB
The good earning report pushed it to break out this triangle, but the doji and long red candles didn’t look good for the bulls. If it moves below the trend line, it may be a short. Going long from this point does not provide a good risk/reward opportunity as the overhead resistence is very close at 73.27.