Morning all.A few charts here where SP's have been working the...

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    Morning all.
    A few charts here where SP's have been working the upper halves of bollies beautifully but now face challenges with getting over the 200ema hurdles which always proves difficult IMO.

    SP is working up the 8ema crossing the 50ema and we're seeing the bollie median and bollie upper acting as S/R levels. Headbutting that 200ema will be the real test IMO.

    The challenge is on, can it overcome the 200ema? Has marched up the bullish levels beautifully but met with supply at the 200. May take a few goes.


    A little more erratic behaviour being a Bio plus a high SOI stock but the principles remain the same. Recently has met the 200ema and struggled. Bit of a squeeze going on with the bollies which indicates the beginning of a new trend, it's just got to be determined which way. Big test this week IMO.

    As many stocks have seen reversals of late you will see lots of resistance coming from bigger time frames ema's (50/200day). Just something to remain aware of in the day trading toolkit.

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