Here's a similar theme I'm toying with. It looks like the trendline is going to be crossed, money flow is dropping, higher low plateau, wedged, etc. The only question is the length of the topping action, not as long as most, and since it's not far off it's highs, and has until about a month ago been on a run, it could resurrect (not enough overhead resistance), especially in a rally so you have to be careful. Question is then, just short it right here, or let it do more topping work? Anybody have technical thoughts on it, I could always use help?
stockcharts.com[l,a]daclniay[pd20,2!b50,200][vc60][iUc20!Lf]&pref=G
This one might be better, as there is strong overhead resistance at 44.30. Perhaps short if it bounced back up to the 50 MA? Maybe not right here though as the volume wasn't overwhelming on the black candlestick days.
stockcharts.com[l,a]daclniay[pd20,2!b50,200][vc60][iUc20!Lf]&pref=G
Both are in the ballpark and on my "watch list". |
