Categories
Consumer Goods

$GMCR . Right on support. Continue the bearish move

$GMCR hits the Tenkan sen and continues on its way down.

It closes just above the Support level of $49.56

Given that $GMCR has closes its ‘gap up’, this is an extremely bearish move for GMCR.

Vested. Bearish. Looking to add on to a winning postion.

Categories
Uncategorized

$RIMM : Waiting for letter ‘h’

 

A possible good entry for a short.

RIMM opens at resistance and head down. A letter ‘h’ may be forming.

My long term view on RIMM remains bearish.

Categories
Tech

Garmin (GRMN) : Bearish ….

Garmin has very bearish chart today.

Like the broader market, Garmin rallies on market open but quickly reverse as its results was released.

From $30 to $33, it quickly lose ground and is now back at $30 (before the day ends).

From a technical analysis standpoint, this is  a very bearish chart.

1. Candlestick shows Bearish engulment

2. Ichimoku shows bearish cross from the Tenkan sen – Kijun sen cross

3. Price is falling off the kumo (or exiting from the kumo).

4. Leading kumo is showing signs of a twist

That’s quite a few confirmation sign of a bearish outlook.

Garmin_is_dead