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.
Tag Archives: Overhead
QQQQ
The SMA 20 is the overhead cloud QQQQ needs to clear through.
QQQQ
QQQQ still has a lot to catch up. The overhead downtrend line is heavy.
YHOO
YHOO is facing the overhead resistence. If it fails to break out this downtrend line, it’s good time to short it.
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.