Categories
S&P500

$SPX . Ascending triangle forming, kumo breakout

 

From the Ichimoku chart for $SPX, it seems like a Ascending Triangle is forming with possible resitance at 1405.

If it trades within a narrowing range, it is likely it will breakout of the kumo towards the end of December where the kumo resistance is weak.

Categories
Tech

$FFIV ugly chart.

FFIV chart is ugly. The sharp fall from around $140 to $100 within 1 month shows inherent weakness.

Looking ahead, it has a gap resistance around $104.

If the broader market rallies and FFIV follows, there is a chance that it will hit kumo resistance at around $120 by July.

Categories
Tech

$AMZN . Breakout from kumo

$AMZN has a breakout from the kumo with a great price surge yesterday.

The price surge invalidate my bearish view on AMZN and I will be closing my SHORT Vertical CALL spread.