FEEC started an uphil climb in early Feb after broken away from it's downward slope. It has to now overcome the overbought RSI barrier while battling a bearish engulfing candle 3 days ago. If it does break through its immediate resistance of $1.25, imminent target is $1.33 and $1.69 is not too far beyond reach. ADX remained positive of the upward strength.
Tuesday, February 20, 2007
Saturday, February 17, 2007
MSFT (Microsoft Corp)
Following a shooting star a few days back, we saw MSFT gapped down in high volume last Friday. The immediate support should be found around $28.6, if this is broken then the next Fib retracement support is around $27.68, but it will likely ponder around $28 first. RSI and MACD were pointing downwards so unless it gets a pull from the overall Tech sector next week, the slide may continue.
Wednesday, February 14, 2007
MMG (Metalline Mining Co.)
Sunday, February 11, 2007
ADBE (Adobe Systems Inc.)
ADBE started the roller-coaster downhill ride since mid Dec last year after a shooting star candle was formed. It is now hitting towards a significant support level around $36.9 supported by RSI oversold coming into the picture. If it does break this support level, the momentum will carry it down thru to $35ish, and probably even fill-up the gap formed in last Sep last year. We shall see.
Saturday, February 10, 2007
FTRS (Foothills Resources, Inc.)
FTRS had a nice run the last couple of days, bouncing off the lower upward channel. Immediate resistance is around $2.13 and judging by its RSI indicator, we should expect to see some hessitance around this resistance, partly proven by the long tail of last Friday's white candle. If it is able to break through that the next target is $2.5. Weekly chart(not shown) showed positive momentum accumulating. ADX on another charting program I ran confirmed the strength of this run-up.
GOOG (Google Inc.)
Google has been sliding for the past few weeks, forming a double top at the beginning of Feb when neckline $480 was broken. I do expect the downtrend to continue but immediate support should be found around $456 area especially when RSI is approaching oversold zone. If, however, this level is broken it will probably slide further down to $438.
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