Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

Search This Blog

Loading...

Thursday, March 8, 2012

Wal-Mart (WMT) correction in progress. 2012.03.08

As stated in the previous analysis, Wal-Mart price is in a corrective move after the sharp sell-off from the mid-February.

In the next days, the traders should pay attention at the price action in the resistance zone area ($60.00-$60.40). If there will occur a reversal scenario that there will be high chances of new lows in the future weeks.

On the mid-term, the stronger support is in the $55.00-$56.00 area.  


SP 500 Technical Analysis 2012.03.08

The S&P Index is set for a deeper correction after it broke below the lower limit of the channel.

The closest resistance is at the $1,359.2 and the bears are probably waiting for a better price to sell. The one thing that can keep the prices up will be the agreement of the private creditors over the Greek debts.

Technically speaking, the market seems to have started a broader correction that will find support in the Fibonacci retracements levels (1,336.6, 1,,310.9, 1,290.2, 1,269.5).  


Tuesday, March 6, 2012

DJIA Technical Analysis 2012.03.06

The DJIA broke the bull channel on yesterday’s session and set the market for more instability in the future days.

During the month of February the weakening trend was showed by the fail of the bulls to reach the upper limit of the channel. The conservative attitude of the investors is also signaling a potential top in this area.

In case there will be a correction in the future days, it will most probable be sharp as the bears will become dominant and the stop losses will be activated. The target levels are given by clusters made of previous local highs and lows and Fibonacci levels. 


Verizon Communications (VZ) resuming the up-trend. 2012.03.06

Verizon Communication made yesterday the third consecutive rising day and breaching the previous local high, attracting though the investors’ attention.

The trend on the mid-term is bullish, having higher highs and higher lows and the January bear channel turned out to be just a short term correction.

The most important support is in the $37.70 area and, if the bulls will sustain their bids, the late December highs ($40.27) could be breached in the near term.

The target for the previous months is in the $42.20 area.    


Banca Transilvania (TLV) Tehnical Analysis 2012.03.06

The Banca Transilvania shares price breached in yesterday's session the first target fixed in the 1.0500-1.06500 RON area and the higher volume than the average of the last weeks together with the strong closing are maintaining the chances for further increasing.

The buying signal given on 29th of February (http://en.goldring.ro/analysis_details.php?analyse_id=2226) has a yield of over 4.5% after yesterday's session but, the price can continue its growth.

The daily support is now given by the previous resistance area (1.0500-1.0650 RON) and the target is represented by the 1.1200-1.1600 RON area.



SIF Banat-Crisana (SIF1) Technical Analysis 2012.03.06

The chances are high that SIF1 be into a distribution zone in the last 3 weeks and which can lead to an intermediate term correction (more than one month).

Yesterday’s session closed at the 1.1950 RON level, thus moving away from the equilibrium level of the last weeks at 1.2245 RON. Also, the traded volume in the yesterday session, higher than the volumes in the last 7 sessions, shows the negative sentiment (or preventive) of investors. 

In case of a correction, the first relevant support will be given by the 1.0070 - 1.0770 RON area and the T1 trend line.


Monday, March 5, 2012

DJIA Technical Analysis 2012.03.05

The DJIA Index is still trading within the bullish channel started on the 28th of December but the bear pressure in the T1 line area could lead into a sell-off in the next few days.

In the month of February, the bulls failed several times to reach the upper limit of the channel, suggesting the weakening of the bullish trend.

The main support is at the $12.930 level and the eventual break of it will lead to a drop as the bears will gain more power and the bulls will be stopped out.


Wal-Mart (WMT) correction in progress. 2012.03.05

Wal-Mart price action confirms a bearish move in progress as it broke below the T1 line a couple of weeks before and now the sloppy price action seem to form a corrective wave.

The previous analysis (http://markettechnicalview.blogspot.com/2012/02/wal-mart-wmt-target-on-mid-term-is-at.html ) stated, among others, that a throwback is possible at any time. The resistance zone is in the $60.00 area and the bears could wait until the price will get closer.

The target on the down side is set in the $55.00-$56.30 area, which represents a confluence of Fibonacci retracements and previous highs and lows. 


Banca Transilvania (TLV) Tehnical Analysis 2012.03.05

The buying signal given last week (http://en.goldring.ro/analysis_details.php?analyse_id=2226) remains valid as long as the price will not decrease below the support level of 1.000 RON.

The small volumes in recent weeks are specific to a price consolidation and favor a new appreciation movement but, for confirmation, the volumes should rise as the price forwards towards the first resistance from the 1.0500 RON area.

The concerned target is in the 1.1200-1.1600 RON area but, in the first phase, it remains to be seen the price action around the value of 1.0500 RON.