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Saturday, August 19, 2006 

Reversal trends and Overbought stocks



Interesting points that these charts above are showing, both stocks " ATHR and BRCM" breaking out of downtrend channel. I am keeping an eye on it !!



Overbought stocks : ADBE and MOT
ADBE crossover yesterday dma200 but close below this level. According the chart above we can see that the stock is in Overbought Conditions so perhaps needs a Pullback to have more strength to break this key resistance area.
I think MOT is another example of lack of strength to break the $24 area.

That's All. Have a great weekend and good trading week !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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