After suffering a 27% drop in less than a month, SUNW has shown some life above 4. The support at 4 is firming up provided that there is no further major news coming out of SUNW. The next resistence is around 4.5. You may wait for a while before initiating a new position or scale in in increments. The stop loss can be set at 4.0.
Tag Archives: Support
INDU
The short-term moving averages have become the overhead resistences. Both SMA 20 and 50 are pointing downwards currently, a bearish tune in spite of runup in the past two days. The longer-term SMA 200 is the support area and it’s pointing side way.
LFC and PMCGX
It looks like the slide has stopped. Let’s see if 26 support is held.
The uptrend line is still intact. It could go either direction based on earning related acitivities.
QQQQ
QQQQ had a little pullback. It did break SMA 20. After almost 5 month of steady move, it may just go sideway for a while as it did around 36 in October. The major support should be at 38. Take a look at the weekly and monthly charts for more perspectives.
MSFT
MSFT is showing some weakness. The support is at 26.