Unstoppable TA now at 2.0

TA has been moving up since our last post TA still moving upward. New support at 1.76. From the 1.76 per share support it is now building a new one at 1.88 which corresponds to the 50% Fibonacci Retracement level plus the Kumo or Cloud. Today’s rally of TA enables it to reach the resistance at 2.04 but since there is no previous action at this level then we might see this resistance to be broken easily.

In case a retrace will happen before the week ends, I think the support will hold.

The Kijun Sen line on weekly chart which gives us the confidence that TA will rise to 2.0 level since Jan 6 (http://www.traderslogbook.com/price-breaks-kijun-sen-weak-bullish-signal-for-ta/) is still there although it bend a little at 2.08. The Senkou Span haven’t changed at 2.04

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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