$TRAN . Weekly Kumo Resistance

On the Daily Chart, $TRAN (Dow Jones Transport) seems to have break above the resistance level. However, the break is not convincing and this is reflected in the last 3-4 candles.


On the Ichimoku Weekly Chart, the resistance level ahead is clearer.

Currently, we can see that the price level is hitting against a resistance level from the Chikou Span.

More importantly, we can also see that the kumo resistance is ahead at around 5250. The leading kumo has not twist and confirmation of bullish outlook is not confirmed.

Will we see $TRAN head higher in the weeks ahead? Yes, there is a chance. Option expiration is less than 2 weeks ahead. However, at this moment, there is chance that $TRAN may turn when it hit Feb.


$RIMM . Gap resistance and timeframe on Ichimoku

RIMM continues to face resistance fromt the gap down back in Sept 16.

From the Ichimoku chart, unless RIMM can break through and rally above $27 before end October, the resistance level at $24 will hold.


Nokia (NOK): Thick kumo resistance and gap down


Nokia fails to break through the thick kumo resistance despite rallying from a low of $7.80

On top of the resistance, the chart now shows another negative outlook for Nokia with the gap down yesterday.

The gap down will mean immediate resistance is at around $8.80 to $9.00

Most likely, we will also see Nokia (NOK) heading towards its March lows.