MSFT closed at 27.41 with heavy volume. It barely broke out the resistence, but the long candle looks less bullish. Obviously, a lot of people are selling into the pop and the buying demand could not hold up in the close. If tomorrow it has a follow up, it will be very bullish.
You can go long at the breakout or wait for the handle in a typical cup-and-handle case, but the pullback may not happen if it is very strong breakout.
MSFT closed at 27.41 with heavy volume. It barely broke out the resistence, but the long candle looks less bullish. Obviously, a lot of people are selling into the pop and the buying demand could not hold up in the close. If tomorrow it has a follow up, it will be very bullish.
You can go long at the breakout or wait for the handle in a typical cup-and-handle case, but the pullback may not happen if it is very strong breakout.
QQQ closed at 35.96 today. The resistence will be the intermediate downtrend line below 37. If 37 is taken out, it will signal a breakout from the downtrend started in Jan. 2004. We will take some profit at 37 and use 36 as the stop for remaining position.
QQQ closed at 35.96 today. The resistence will be the intermediate downtrend line below 37. If 37 is taken out, it will signal a breakout from the downtrend started in Jan. 2004. We will take some profit at 37 and use 36 as the stop for remaining position.
CHN is range-bound for more than two months. A breakout at 35 will signal a new uptrend again.