JDS Uniphase JDU on TSE
stockcharts.com[W,A]DACLYIMY[DC][PB10!B50!B200!H.02,.20][VC60][IUD20!UB14!LA12,26,9!LP14,3,3!LC20]
I do not have a position here.
Thought it would be interesting to look at the chart this afternoon, before the earnings.
If what we are seeing in the tech markets today is related to the cautious outlook going forward from Corning, last night, we are going to see some incredible movement tomorrow (up or down) after the slew of earnings this evening, including JDS Uniphase.
The chart does not look bullish, IMO.
Does it reflect some knowledge of the results tonight which would be bad,
or does it reflect a fear amongst investors which might be interpreted as good.
We need that wall of worry to mount a good sustained rally, IMO.
CCI is just dropping down out of the overbought zone.
MACD histogram is positive but has been falling for the past few days. Not good.
MACD momentum lines have been in a bullish uptrend that is just crossing the zero line. Good.
Stochastic is way up in overbought land, not a good place to be, and signalling a sell today.
Chaikin Money Flow has just gone positive with a pattern that I interpret as bullish.
After hours this evening will be very interesting.
Bad news - the market and JDU will sink like a stone tomorrow.
Good news - the market and JDU will take off like a rocket.
Is the chart showing a sell because of the earnings or because of the earnings worry?
We'll see. |
