MoneyPlanters Update

MoneyPlanters

Newbie
3 0
Facebook Inc Forecast
Wednesday, September 19, 2012

Facebook, the social networking giant being traded on the NASDAQ has been in a bullish trend since the first week of September. As we can see from the image, the stock has faced some resistance at the H5 Camarilla level of 22.48 and that happened just near a Gann reversal date which was the 18th of September 2012.
We can see from the charts again that the reversal was not confirmed and hence we may expect some more upside in the coming few sessions. The Gann reversal dates in the near future are as follows :
14 and 22 trading days counted from the 4th of September 2012. The 26th of September is also a significant reversal date. Traders may remain long and expect the stock to penetrate the H5 level to touch new highs while keeping an eye on the forthcoming reversal dates.
 

MoneyPlanters

Newbie
3 0
Google Inc Forecast
Monday, September 24, 2012


EOD charts for Google Inc traded on the NASDAQ depict that the stock has been into a bull run since the 13th of September 2012. Though we do not see any significant Wolfe wave patterns on the chart, it is clear that the stock has entered into a bullish Camarilla zone, i.e. a bull run from the H4 resistance level (721.15) which is likely to pull up the stock till the H5 resiance level (757.15).
Traders can expect some more gains in the stock for the next few days depending on when the next Gann reversal occurs.
Gann studies for Google reveal that the next probable trend reversal date falls on the 23rd of September 2012 followed by 25/26th September 2012. Further dates are 2nd October 2012 which might come into action in case the previous reversal dates are not confirmed by the price movement of the stock. In terms of trading days, 10, 12, 13 and 19 rading days counted from the 13th of September 2012 are likely trend reversal dates. Any reversal will however require a confirmation by the proce movement of Google. In this case since we are looking at a reversal from bullish to bearish, the closing price on the day following the reversal day must be lower than the low on the reversal day. We must also remember that reversal days can shift by a day on either side. Happy trading !!
 

wackypete2

Legendary member
10,229 2,053
Facebook Inc Forecast
Wednesday, September 19, 2012

Facebook, the social networking giant being traded on the NASDAQ has been in a bullish trend since the first week of September. As we can see from the image, the stock has faced some resistance at the H5 Camarilla level of 22.48 and that happened just near a Gann reversal date which was the 18th of September 2012.
We can see from the charts again that the reversal was not confirmed and hence we may expect some more upside in the coming few sessions. The Gann reversal dates in the near future are as follows :
14 and 22 trading days counted from the 4th of September 2012. The 26th of September is also a significant reversal date. Traders may remain long and expect the stock to penetrate the H5 level to touch new highs while keeping an eye on the forthcoming reversal dates.

You're serious, right? The stock has been in a downward spiral since IPO date. Why would you attempt to catch a falling knife? You'd be getting long on a pullback from a down trend. Not good IMO.

Peter
 
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MoneyPlanters

Newbie
3 0
Nifty Shows Warnings
Tuesday, September 25, 2012

http://3.bp.blogspot.com/-jSbYWwA7c94/UGHasuI2X-I/AAAAAAAAApI/93r3U5O2Kc8/s320/nifty+eod.JPG
http://1.bp.blogspot.com/-_zEaraFdrbQ/UGHauA1ge_I/AAAAAAAAApQ/tdG08l6Viqg/s320/niftyhour.JPG

The Nifty is showing warnings of a reversal that might occur any time soon. Today, the 25th of September 2012 was a Gann reversal date and we did witness a bearish candle. We know that sometimes a Gann reversal might shift by a day. In line with that if we consider yesterday to be the reversal date, then it was not confirmed by today's moves since the index did not close below yesterday's low. Hence the next date to be considered is today, which is yet to be confirmed by the index closing tomorrow. Further dates of reversal are on the 27th of September, 1st, 4th and 5th of October 2012. Once this reversal occurs, this would be the first major reversal since the bull run that started on the 6th of September 2012.

There are no significant Wolfe Wave patterns to be seen on the daily charts. In terms of Camarilla levels, it is hard to predict anything since the index has moved beyond the H5 resistance level. Hourly charts for the S&P CNX Nifty too show some signs of weakness.there is minor support at the 2 - 4 Wolfe line shown in green. Once this is broken the index is expected to drop significantly.
 
 
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