This is a revised version of from yesterday's chart.
The chart was not compatible with some of the monitor set ups.
Overall, we are still in the bullish channel. However, as we move up along the channel, we will encounter 2 key resistances this week:
Resistance #1: The SMA 200 moved up to $471 (moving target), and will be our next resistance. It was rejected last week. This will be tested this week (potentially as early as today)
Resistance #2: $479-480. This was the highest peaks back on Feb 11 (thanks for the correction), to fill the gap to the low $480s. This might be tested this week.
Resistance #3: at $513. This is one of the peaks in Jan before the gap down, and also one of the supports back in Dec - Jan. We won't test this resistance until Sept- Oct.
Overall, MACD is still positive. RSI is bouncing off the support line. It is not quite in the over-bought territory yet, so we still have some gas left.
Happy trading.
The chart was not compatible with some of the monitor set ups.
Overall, we are still in the bullish channel. However, as we move up along the channel, we will encounter 2 key resistances this week:
Resistance #1: The SMA 200 moved up to $471 (moving target), and will be our next resistance. It was rejected last week. This will be tested this week (potentially as early as today)
Resistance #2: $479-480. This was the highest peaks back on Feb 11 (thanks for the correction), to fill the gap to the low $480s. This might be tested this week.
Resistance #3: at $513. This is one of the peaks in Jan before the gap down, and also one of the supports back in Dec - Jan. We won't test this resistance until Sept- Oct.
Overall, MACD is still positive. RSI is bouncing off the support line. It is not quite in the over-bought territory yet, so we still have some gas left.
Happy trading.