I had a comment on my use of Chikou Span left by ’dcmb’ and I thought it is best to start a new post to further discuss this.
The comment was on the use of Chikou Span and the use of the current price level against it.
at ichiwiki, the chikou was used against the price 26 [...]
RedHat (RHT) breakthrough its resistance at 23.34 with a small gap up in the opening today.
This is a bullish sign considering the recent bullish Tenkan sen – Kijun sen cross which I posted earlier.
However, on the Weekly Chart, there is an immediate resistance at 24.52. (Many thanks to K from InvestIdeas for highlighting this to [...]
RedHat just had a bullish cross a few days back (31 August 2009).
The cross comes from a rebound off the kumo support at the same time, it is now facing immediate resistant at 23.24
The resistant level at 23.24 is significant as it is the high for the year. Coincidently, it is also the high back [...]