Stocks bouncing back
Chart courtesy of stockchartsA lot of people still convinced that the Bear Market started, but honestly speaking I'm not yet convinced, even after Indices having broken some important supports, it's my opinion nothing more. I see this decline in share prices as an opportunity to buy cheap, I know that the recession is still well present in the minds of many investors, but clearly there is no fundamentals reasons yet to put this issue now on the market. Consumers still spending, market still creating jobs, GDP continues to grow modestly and taxes are in a declining phase, so it's a matter of time to start to see this market moving up again !!! Crisis in the mortgage market is serious but let's see what the market will tell in the weeks to come. I'm very Bullish at these levels, no one knows the future ahead, but it's clear that this could be a good moment to enter long. Good luck and keep your head fresh for a new movement.
Chart courtesy of stockchartsAdvanced Micro Devices "AMD " shares were down 1.1% today reactiing to some negatice comments from a broker, however stock made a nice run-up in the last minutes of the trading, with volume above daily average, suggesting that the sell-off maybe over. The technical chart shows this is still a weak stock as 50 day moving average is still below 200 day moving average. MACD which just dropped below 0 again recently indicating a bear signal as well. One positive signal is KD where K line just crossed on top over D line showing a rally is about to begin. Stay tuned on AMD.
Transocean "RIG" shares were up nearly 5% today to a new 52 week high at $137.59, breaking out an important resistance at $131. Stcok is now in a breakout mode and the chart suggests a strong confidence in stock, no resistances above and RSI has space to move up more.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
That's All. Have a nice evening !!!
AC
