traders lounge week 1 may , page-33

  1. 686 Posts.
    Heres Rio:

    Repeated stuff - Sprice has broken the long term uptrend, as well as the 41, 195 EMA indicating bearishness.

    Volume has increased on the declining share price (not a good sign at all)

    Volatility on the increase, so may be a good idea to wait for it to settle before you jump in.

    Next support found at the $62.89 level.

    Also i have placed a support line on the MACD. It was hit a few times back in 2008 (July & Sept), so may indicate a safer level to get in (may coincide with the support i mentioned above). Based on the data i have, it has gone past this 3x.

 
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