QQQQ still has a lot to catch up. The overhead downtrend line is heavy.
Tag Archives: Downtrend
RHAT failed to break the downtrend line
RHAT shut up more than 10% yesterday, but today it gave back about 5%. The downtrend line is still intact.
YHOO
YHOO is facing the overhead resistence. If it fails to break out this downtrend line, it’s good time to short it.
GOOG
GOOG has broken its downtrend line finally. Let’s see if it could have a follow through next week.
LU and HNP
LU bounced back from low of 3.12. It has broken the resistence at SMA 20, which it had done last month but failed to folllow through. The next resistence is the downtrend line overhead, roughly at 3.5.
Since HNP broke down from the triangle and formed a double bottom, it has rallied back the breaking point 30. There is one point of room for it to go higher before reaching the downtrend line formed since last Sep. It does not hurt to take some money off the table now.