Chart Roundup: INTC, SONS, AMZN, EBAY, ERTS
INTC Daily: Long-legged doji on a blast of volume. We know that there is supreme indecision here, and will need to see price come back under the September high to confirm that there has been a reversal.
SONS Daily: Big blast of volume on a gap up ended on a reversal. This is the bearish belthold pattern, what we call the "one finger salute". Watch the $8.80ish area to see if it will hold. This one is cheapie, so it might have more resiliance, as traders move from the expensive to the not-so-expensive. It's a case of "the rising tide lifts all boats".
AMZN Daily: Exhaustion gap?
AMZN Weekly: Another case of ADX reading an extreme zone for this symbol and timeframe.
EBAY Daily: Spike. Exhaustion gap?
EBAY Weekly: Upside target projected by pennant has been achieved.
ERTS Daily: Doji at the top of a price channel, one of the hit and run shorts that can still be done on a swing trade basis, but the ADX is not extreme for this symbol and timeframe. Possibilities intraday. Note that a nice big round number of $100 was hit. September 24 high is the first downside target.
ERTS Weekly: ADX is extreme for this symbol and timeframe. Beware of "sudden death" reversal, particularly at a big psychological number such as $100.
03.10.10 08:45 #