CSCO looks tired on the daily. Still around that double top.
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
INTC turned down today, under the double top now:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
ORCL was helped by MSFT today, but is in nosebleed territory. Maybe it wants $12 for the monthly crow re-trace:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
AMAT looks pretty extended, but still has a bit more room to get to around 16.85 before turning back:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
Note that AMAT is above its upper BB on the daily, usually an easy shorting op. On a drop through the upper BB, a short will usually result in a cover at the middle BB:
stockcharts.com[h,a]daclyyay[dd][pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
The risk/reward on such a trade is pretty decent, as the reward appears to be 10% on AMAT from this set-up. |
