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Showing posts from July, 2011

DowJones Technical Chart | Updated | 07-July-2011

Just few days back, I've uploaded technical chart of DowJones giving bearish signal. Now, after just few trading sessions, the price has moved upward, resulted in the change of chart. The updated chart is below.

The price closed above kumo, and so is chikou span line (CS). That gives bullish kumo breakout.  But main point here to watch in coming days is that price may come back to level of 12380-12400 as that is the falt kumo.

Whenever kumo line is flat, it will attract price.

So, watch that level carefully before you initiate any trade.

Lloyds Banking Group PLC Chart | UK | 30-June-2011

Here is a technical chart of Lloyds Banking Group PLC, listed in UK. on daily time frame. I've used Doda-Donchian indicator and out of Ichimoku, I've taken just Kumo to get visible support and resistance levels.

Doda-Donchian indicator gave sell signal on23-Feb-2011 @64. The proce also closes below kumo; thus clearly giving bearish kumo breakout. It moves southward direction for few weeks and then in the beginning of April 2011, it managed to cross Doda-Donchian line but failed to cross kumo - the great resistance for any stock.
Again, it started his downtrend journey. On 27-June-2011, it made its low @42.54. And after that, it started upward journey. In the last trading session, Doda-Donchian gave buy signal @49.07 as the price closes above Doda-Donchian line.
Now, the question arises, shall one take Buy call at this moment.?
Well, if you're a believer of high-risk high-gain principle, you can take this call. But if you can wait for some time, I suggest let the price cr…