just a couple of charts that i thought i could add some value to...

just a couple of charts that i thought i could add some value to following an early morning read

IGO


purple shows the recent trading channel....you will see price almost touched on the blue mid tyne - watch for resistance here.....more importantly look at the divergence pattern on the stochastic and momentum indicators....this could signal a change in trend.....i also drew what looks to be a higher bottom forming on the stochastics, follow this line if you are long and sell when it breaks

PBG


thought i would throw on the fib levels to the chart, because they represent price action nicely....price hasnt dropped below 50% fib levels yet which is a sign of strength....note the downtrend on the stochs that needs to be broken for the stock to end the current downtrend....also note the purple downtrend line that has a few touches on it.....in Mar/Apr 2010 the stock had a sort of double-top touching this purple line followed by a sharp drop.....in Oct/Nov (right now!) the stock has had another double-top on the purple line....will the same sharp drop eventuate?