Dear readers, no matter how bad the headlines may seemed at this moment, the charts are hinting at further upside for stocks as beaten down financial stocks are now bouncing off long term support with signs that longer term players are stepping in to purchase the stocks at these levels. These behaviors exhibited by the financials are very positive indication that the financial stocks have bottomed. Let's check out the weekly charts for stocks in this post (click on charts to enlarge).
Bank of America (weekly)
Citigroup (weekly)
Casino stocks are also breaking their immediate resistance level and are now free to move higher. The weekly charts indicates that Las Vegas Sands (LVS) has broken out of the Ichimoku Clouds and is starting a new trend.
Solar stocks did not took part in any upside moves at all ever since the European debt crisis was reported in 2010. This sector is severely beaten down. We could see solar counters moving higher soon as oil prices looks to resume their uptrend and the fact that many of these solar stocks have bounced off long term support. It would be good risk to reward to initiate your long positions at these beaten down bargain prices.
Yingli Green Energy (weekly)
Renesola (weekly)
Do keep an eye on the financial stocks as i believe that we could see them finally waking up and leading the charge for the overall market in moving higher! Have a great week ahead.
Bank of America (weekly)
Citigroup (weekly)
Casino stocks are also breaking their immediate resistance level and are now free to move higher. The weekly charts indicates that Las Vegas Sands (LVS) has broken out of the Ichimoku Clouds and is starting a new trend.
Solar stocks did not took part in any upside moves at all ever since the European debt crisis was reported in 2010. This sector is severely beaten down. We could see solar counters moving higher soon as oil prices looks to resume their uptrend and the fact that many of these solar stocks have bounced off long term support. It would be good risk to reward to initiate your long positions at these beaten down bargain prices.
Yingli Green Energy (weekly)
Renesola (weekly)
Do keep an eye on the financial stocks as i believe that we could see them finally waking up and leading the charge for the overall market in moving higher! Have a great week ahead.
No comments:
Post a Comment