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QQQQ - Lessons from 5-Minute Charts
The 'Support & Resistance Report' identifies areas of Gathering Support (Buy Triggers) and Gathering Resistance (Sell Triggers) for each day's trade as illustrated in the charts below.
Tuesday's 5-Minute Chart:
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Thursday's 5-Minute Chart:
Friday's 5-Minute Chart:
QQQQ - Lessons from 5-Minute Charts
The 'Support & Resistance Report' identifies areas of Gathering Support (Buy Triggers) and Gathering Resistance (Sell Triggers) for each day's trade as illustrated in the charts below.
Tuesday's 5-Minute Chart:
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Thursday's 5-Minute Chart:
Friday's 5-Minute Chart:
Hello Hack...
The QuoteTracker enables you to create your own chart templates and then to assign one of them as the "default" so that all future charts that you create automatically display the same characteristics as the "default" chart.
There may be a way for users to share their templates by emailing the file in which QuoteTracker stores the template information, but I'm not sure which file that is.
Which chart charateristics are you looking for?
Chart & Comments for QQQQ...
QQQQ (5 Minute Chart):
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Chart & Comments for QQQQ...
QQQQ (5 Minute Chart):
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Chart & Comments for QQQQ...
QQQQ (5 Minute Chart):
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Thanks blasher...my pleasure!
Mike
Chart & Comments for QQQQ and QCOM...
The areas of Gathering Support and Gathering Resistance on the "Support & Resistance Report" Spreadsheet provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
Success in using the "Support & Resistance Report" Strategy depends entirely on how well the following 4 Trading Rules are observed:
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is time to venture a purchase. Trading Rule #1 applied to the QQQQ during Tuesday's trade (See the respective 5-Minute Charts below.)
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness, a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is unable to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is time to venture a short sale. Trading Rule #3 applied to QCOM during Tuesday morning trade (See the 5-Minute Chart below.)
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength, a warning to close a short position (and to venture a purchase). Trading Rule #4 applied to QCOM during Tuesday afternoon trade (See the 5-Minute Chart below.)
Note: How a stock behaves after it reaches an area of "Gathering Support" or "Gathering Resistance" is best observed using a 5-Minute Chart. That's because a 5-Minute Chart shows the details of how an area of "Gathering Support" or "Gathering Resistance" invariably serves as a boundary that supports a falling stock or suppresses a rising stock:
QQQQ (5 Minute Chart):
QCOM (5 Minute Chart):
Chart & Comments for QQQQ and QCOM...
The areas of Gathering Support and Gathering Resistance on the "Support & Resistance Report" Spreadsheet provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
Success in using the "Support & Resistance Report" Strategy depends entirely on how well the following 4 Trading Rules are observed:
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is time to venture a purchase. Trading Rule #1 applied to the QQQQ during Tuesday's trade (See the respective 5-Minute Charts below.)
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness, a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is unable to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is time to venture a short sale. Trading Rule #3 applied to QCOM during Tuesday morning trade (See the 5-Minute Chart below.)
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength, a warning to close a short position (and to venture a purchase). Trading Rule #4 applied to QCOM during Tuesday afternoon trade (See the 5-Minute Chart below.)
Note: How a stock behaves after it reaches an area of "Gathering Support" or "Gathering Resistance" is best observed using a 5-Minute Chart. That's because a 5-Minute Chart shows the details of how an area of "Gathering Support" or "Gathering Resistance" invariably serves as a boundary that supports a falling stock or suppresses a rising stock:
QQQQ (5 Minute Chart):
QCOM (5 Minute Chart):
Chart & Comments for QQQQ and QCOM...
The areas of Gathering Support and Gathering Resistance on the "Support & Resistance Report" Spreadsheet provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
Success in using the "Support & Resistance Report" Strategy depends entirely on how well the following 4 Trading Rules are observed:
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is time to venture a purchase. Trading Rule #1 applied to the QQQQ during Tuesday's trade (See the respective 5-Minute Charts below.)
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness, a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is unable to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is time to venture a short sale. Trading Rule #3 applied to QCOM during Tuesday morning trade (See the 5-Minute Chart below.)
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength, a warning to close a short position (and to venture a purchase). Trading Rule #4 applied to QCOM during Tuesday afternoon trade (See the 5-Minute Chart below.)
Note: How a stock behaves after it reaches an area of "Gathering Support" or "Gathering Resistance" is best observed using a 5-Minute Chart. That's because a 5-Minute Chart shows the details of how an area of "Gathering Support" or "Gathering Resistance" invariably serves as a boundary that supports a falling stock or suppresses a rising stock:
QQQQ (5 Minute Chart):
QCOM (5 Minute Chart):
Chart & Comments for AKAM, BBBY, NVDA and DNA...
The areas of Gathering Support and Gathering Resistance on the "Support & Resistance Report" Spreadsheet provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
Success in using the "Support & Resistance Report" Strategy depends entirely on how well the following 4 Trading Rules are observed:
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is time to venture a purchase. Trading Rule #1 applied to AKAM, BBBY and NVDA during Friday's trade (See the respective 5-Minute Charts below.)
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness, a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is unable to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is time to venture a short sale. Trading Rule #3 applied to DNA during Friday's trade (See the 5-Minute Chart below.)
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength, a warning to close a short position (and to venture a purchase).
Note: How a stock behaves after it reaches an area of "Gathering Support" or "Gathering Resistance" is best observed using a 5-Minute Chart. That's because a 5-Minute Chart shows the details of how an area of "Gathering Support" or "Gathering Resistance" invariably serves as a boundary that supports a falling stock or suppresses a rising stock:
AKAM (5 Minute Chart):
BBBY (5 Minute Chart):
NVDA (5 Minute Chart):
DNA (5 Minute Chart):
Chart & Comments for AKAM, BBBY, NVDA and DNA...
The areas of Gathering Support and Gathering Resistance on the "Support & Resistance Report" Spreadsheet provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
Success in using the "Support & Resistance Report" Strategy depends entirely on how well the following 4 Trading Rules are observed:
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is time to venture a purchase. Trading Rule #1 applied to AKAM, BBBY and NVDA during Friday's trade (See the respective 5-Minute Charts below.)
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness, a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is unable to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is time to venture a short sale. Trading Rule #3 applied to DNA during Friday's trade (See the 5-Minute Chart below.)
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength, a warning to close a short position (and to venture a purchase).
Note: How a stock behaves after it reaches an area of "Gathering Support" or "Gathering Resistance" is best observed using a 5-Minute Chart. That's because a 5-Minute Chart shows the details of how an area of "Gathering Support" or "Gathering Resistance" invariably serves as a boundary that supports a falling stock or suppresses a rising stock, at least upon first approach:
AKAM (5 Minute Chart):
BBBY (5 Minute Chart):
NVDA (5 Minute Chart):
DNA (5 Minute Chart):
Chart & Comments for AKAM, BBBY, NVDA and DNA...
The areas of Gathering Support and Gathering Resistance on the "Support & Resistance Report" Spreadsheet provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
Success in using the "Support & Resistance Report" Strategy depends entirely on how well the following 4 Trading Rules are observed:
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is time to venture a purchase. Trading Rule #1 applied to AKAM, BBBY and NVDA during Friday's trade (See the respective 5-Minute Charts below.)
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness, a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is unable to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is time to venture a short sale. Trading Rule #3 applied to DNA during Friday's trade (See the 5-Minute Chart below.)
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength, a warning to close a short position (and to venture a purchase).
Note: How a stock behaves after it reaches an area of "Gathering Support" or "Gathering Resistance" is best observed using a 5-Minute Chart. That's because a 5-Minute Chart shows the details of how an area of "Gathering Support" or "Gathering Resistance" invariably serves as a boundary that supports a falling stock or suppresses a rising stock, at least upon first approach:
AKAM (5 Minute Chart):
BBBY (5 Minute Chart):
NVDA (5 Minute Chart):
DNA (5 Minute Chart):
An Excellent Guide to Succesful Trades:
Trading Rule #2 below applied to Wednesday's trade in that the QQQQ broke below Wednesday's area of "Gathering Support" between $38.64 and $38.77.
The Support & Resistance Report is an excellent guide to successful trades.
Much depends, however, on how well you listen to what the purple areas of Gathering Support and Gathering Resistance are telling you to do.
The purple areas provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is an appropriate time to venture a purchase.
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness and a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is able to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is an appropriate time to venture a short sale.
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength and a warning to close a short position (and to venture a purchase).
QQQQ (5-Minute Chart):
An Excellent Guide to Succesful Trades:
Trading Rule #2 below applied to Wednesday's trade in that the QQQQ broke below Wednesday's area of "Gathering Support" between $38.64 and $38.77.
The Support & Resistance Report is an excellent guide to successful trades.
Much depends, however, on how well you listen to what the purple areas of Gathering Support and Gathering Resistance are telling you to do.
The purple areas provide specific information about whether you should be in a trade or, perhaps more importantly, out of a trade.
1) When the price of a stock falls to an area of "Gathering Support" and is unable to fall below it (as is often the case with "Gathering Support", at least upon first approach), then it is an appropriate time to venture a purchase.
2) When, however, the price of a stock falls to an area of "Gathering Support" and then breaks below it, it is a sign of extraordinary weakness and a warning to close a long position (and to venture a short sale).
3) When the price of a stock rises to an area of "Gathering Resistance" and is able to rise above it (as is often the case with "Gathering Resistance", at least upon first approach), then it is an appropriate time to venture a short sale.
4) When, however, the price of a stock rises to an area of "Gathering Resistance" and then breaks above it, it is a sign of extraordinary strength and a warning to close a short position (and to venture a purchase).
QQQQ (5-Minute Chart):
QQQQ Trades (Weekend Update)...
For The Week Ending 06/30/06:
$1.56 = Profit from the 'Support & Resistance Report' Strategy (Day Trades)
$0.53 = Profit from the 'Support & Resistance Report' Strategy (Swing Trades)
$0.96 = Profit from a 'Buy and Hold' Strategy
For The 17 Weeks From 03/06/06 thru 06/30/06:
$12.93 = Profit from the 'Support & Resistance Report' Strategy (Day Trades)
$7.82 = Profit from the 'Support & Resistance Report' Strategy (Swing Trades)
($2.68) = Loss from a 'Buy and Hold' Strategy (QQQQ Closed at $41.45 on Friday, March 3rd)
A record of 'Buy' and 'Sell' Alerts that produced the results above may be viewed by clicking on the following link: A Record of 'Buy' and 'Sell' Alerts
The record of 'Buy' and 'Sell' Alerts is an Excel spreadsheet. If you do not have "Excel for Windows" on you PC, you may download a free copy at the following Microsoft web site: Excel Viewer Program
For an example of the "Support & Resistance Report", including an explanation of how it works and why it works, visit the Support & Resistance Report web site.
QQQQ Trades (Weekend Update)...
For The Week Ending 06/30/06:
$1.56 = Profit from the 'Support & Resistance Report' Strategy (Day Trades)
$0.53 = Profit from the 'Support & Resistance Report' Strategy (Swing Trades)
$0.96 = Profit from a 'Buy and Hold' Strategy
For The 17 Weeks From 03/06/06 thru 06/30/06:
$12.93 = Profit from the 'Support & Resistance Report' Strategy (Day Trades)
$7.82 = Profit from the 'Support & Resistance Report' Strategy (Swing Trades)
($2.68) = Loss from a 'Buy and Hold' Strategy (QQQQ Closed at $41.45 on Friday, March 3rd)
A record of 'Buy' and 'Sell' Alerts that produced the results above may be viewed by clicking on the following link: A Record of 'Buy' and 'Sell' Alerts
The record of 'Buy' and 'Sell' Alerts is an Excel spreadsheet. If you do not have "Excel for Windows" on you PC, you may download a free copy at the following Microsoft web site: Excel Viewer Program
For an example of the "Support & Resistance Report", including an explanation of how it works and why it works, visit the Support & Resistance Report web site.
Chart & Comments Updated for QQQQ...
The 'Support & Resistance Report' identified a 2-member area of Gathering Resistance (Sell Trigger) between $39.02 and $39.09 going into Friday's trade, and so it was found to be.
After printing a high of $39.14, Resistance was found.
The QQQQ pulled back to a subsequent low of $38.68.
QQQQ (5 Minute Chart):
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Chart & Comments Updated for QQQQ...
The 'Support & Resistance Report' identified a 2-member area of Gathering Resistance (Sell Trigger) between $39.02 and $39.09 going into Friday's trade, and so it was found to be.
After printing a high of $39.14, Resistance was found.
The QQQQ pulled back to a subsequent low of $38.69.
QQQQ (5 Minute Chart):
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Chart & Comments Updated for QQQQ...
The 'Support & Resistance Report' identified a 2-member area of Gathering Resistance (Sell Trigger) between $39.02 and $39.09 going into Friday's trade, and so it was found to be.
After printing a high of $39.14, Resistance was found.
The QQQQ pulled back to a subsequent low of $38.69.
QQQQ (5 Minute Chart):
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Resistance, when captured, becomes Support...
The QQQQ demonstrated one of the principles of Support and Resistance in action on Thursday.
It's area of Gathering Resistance stood between $38.14 and $38.28 going into Thursday's trade.
The QQQQ found Resistance at that area upon its first approach, as is usually the case with an area of "Gathering Resistance".
The 2:15pm FOMC interest rate announcement, however, triggered a big push up that captured Thursday's area of "Gathering Resistance" by printing a high of $38.50.
A subsequent pull back to the upper end of Thursday's area of "Gathering Resistance" found Support at $38.26 from which the QQQQ continued its rally into the close.
That action demonstrates one of the principles of Support and Resistance that states, Resistance, when captured, becomes Support.
Thursday's area of "Gathering Resistance" (Sell Trigger) was transformed into an area of "Gathering Support" (Buy Trigger) when it was captured by a rising QQQQ.
QQQQ (5-Minute Chart):
Resistance, when captured, becomes Support...
The QQQQ demonstrated one of the principles of Support and Resistance in action on Thursday.
It's area of Gathering Resistance stood between $38.14 and $38.28 going into Thursday's trade.
The QQQQ found Resistance at that area upon its first approach, as is usually the case with an area of "Gathering Resistance".
The 2:15pm FOMC interest rate announcement, however, triggered a big push up that captured Thursday's area of "Gathering Resistance" by printing a high of $38.50.
A subsequent pull back to the upper end of Thursday's area of "Gathering Resistance" found Support at $38.26 from which the QQQQ continued its rally into the close.
That action demonstrates one of the principles of Support and Resistance that states, Resistance, when captured, becomes Support.
Thursday's area of "Gathering Resistance" (Sell Trigger) was transformed into an area of "Gathering Support" (Buy Trigger) when it was captured by a rising QQQQ.
QQQQ (5-Minute Chart):
Frequently Asked Questions...
regarding the Support & Resistance Report:
FAQ
Frequently Asked Questions...
regarding the Support & Resistance Report:
FAQ
Chart & Comments Updated for AMZN...
The 'Support & Resistance Report' identified a 2-member area of Gathering Resistance (Sell Trigger) between $37.00 and $37.05 going into Monday's trade, and so it was found to be.
After printing a high of $37.17, Resistance was found.
The AMZN pulled back to a subsequent low of $36.43.
AMZN (5 Minute Chart):
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Chart & Comments Updated for AMZN...
The 'Support & Resistance Report' identified a 2-member area of Gathering Resistance (Sell Trigger) between $37.00 and $37.05 going into Monday's trade, and so it was found to be.
After printing a high of $37.17, Resistance was found.
The AMZN pulled back to a subsequent low of $36.43.
AMZN (5 Minute Chart):
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QQQQ Trades (Weekend Update)...
For The Week Ending 06/23/06:
($0.10) = Loss from the 'Support & Resistance Report' Strategy (Day Trades)
($0.10) = Loss from the 'Support & Resistance Report' Strategy (Swing Trades)
($0.19) = Loss from a 'Buy and Hold' Strategy
For The 16 Weeks From 03/06/06 thru 06/23/06:
$11.37 = Profit from the 'Support & Resistance Report' Strategy (Day Trades)
$7.29 = Profit from the 'Support & Resistance Report' Strategy (Swing Trades)
($3.30) = Loss from a 'Buy and Hold' Strategy (QQQQ Closed at $41.45 on Friday, March 3rd)
A record of 'Buy' and 'Sell' Alerts that produced the results above may be viewed by clicking on the following link: A Record of 'Buy' and 'Sell' Alerts
The record of 'Buy' and 'Sell' Alerts is an Excel spreadsheet. If you do not have "Excel for Windows" on you PC, you may download a free copy at the following Microsoft web site: Excel Viewer Program
For an example of the "Support & Resistance Report", including an explanation of how it works and why it works, visit the Support & Resistance Report web site.
QQQQ Trades (Weekend Update)...
For The Week Ending 06/23/06:
($0.10) = Loss from the 'Support & Resistance Report' Strategy (Day Trades)
($0.10) = Loss from the 'Support & Resistance Report' Strategy (Swing Trades)
($0.19) = Loss from a 'Buy and Hold' Strategy
For The 16 Weeks From 03/06/06 thru 06/23/06:
$11.37 = Profit from the 'Support & Resistance Report' Strategy (Day Trades)
$7.29 = Profit from the 'Support & Resistance Report' Strategy (Swing Trades)
($3.30) = Loss from a 'Buy and Hold' Strategy (QQQQ Closed at $41.45 on Friday, March 3rd)
A record of 'Buy' and 'Sell' Alerts that produced the results above may be viewed by clicking on the following link: A Record of 'Buy' and 'Sell' Alerts
The record of 'Buy' and 'Sell' Alerts is an Excel spreadsheet. If you do not have "Excel for Windows" on you PC, you may download a free copy at the following Microsoft web site: Excel Viewer Program
For an example of the "Support & Resistance Report", including an explanation of how it works and why it works, visit the Support & Resistance Report web site.
Paul, You can download the QuoteTracker either before you obtain real-time quotes or after. It doesn't matter.
I'm not sure if OE offers free real-time quotes or not.
If they don't, there are plenty of brokers who do.
Mike
Chart & Comments Updated for the SMH...
The "Support & Resistance Report" identified a 2-member area of "Gathering Support" (Buy Trigger) between $32.53 and $32.57 going into Tuesday's trade (June 20th), and so it was found to be.
After printing a low of $32.51, Support was found.
The SMH rose 58 cents to a subsequent high of $33.09.
(See the 5-Minute Chart below).
Traders who use the "Support & Resistance Report" in combination with the "Medved QuoteTracker" received a real-time "Buy" Alert on Tueday as soon as the SMH reached its area of "Gathering Support".
SMH (5 Minute Chart):
Chart & Comments Updated for the SMH...
The "Support & Resistance Report" identified a 2-member area of "Gathering Support" (Buy Trigger) between $32.53 and $32.57 going into Tuesday's trade (June 20th), and so it was found to be.
After printing a low of $32.51, Support was found.
The SMH rose 58 cents to a subsequent high of $33.09.
(See the 5-Minute Chart below).
Traders who use the "Support & Resistance Report" in combination with the "Medved QuoteTracker" received a real-time "Buy" Alert on Tueday as soon as the SMH reached its area of "Gathering Support".
SMH (5 Minute Chart):
Hi aj, I was noticing a "Positive Divergence" too.
This one is dispayed by the MACD Histogram on the Daily Chart of the QQQQ.
The CCI is also displaying a "Positive Divergence".
The only thing that's missing now is volume.
The general rule is, "Higher prices require higher volume, lower prices do not".
QQQQ Chart(s):
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID735617
Mike
Chart & Comments Updated for AKAM...
A 2-member area of concentrated Support, aka "Gathering Support", between $29.99 and $30.01 going into Monday's trade (June 19th), resulted in Tuesday's bounce.
After printing a low of $29.90 on Monday, Support was found. AKAM rose $1.87 to a subsequent high of $31.77 on Tuesday, June 20th.
AKAM (5 Minute Chart):
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Chart & Comments Updated for AKAM...
The "Support & Resistance Report" identified an area of Gathering Support between $29.99 and $30.01 going into Monday's trade (June 19th), and so it was found to be.
After printing a low of $29.90 on Monday, Support was found. AKAM rose $1.87 to a subsequent high of $31.77 on Tuesday, June 20th. (See the 5-Minute Chart below).
Traders who use the "Support & Resistance Report" in combination with the "Medved QuoteTracker" received a real-time "Buy" Alert on Monday as soon as AKAM reached its area of "Gathering Support".
AKAM (5 Minute Chart):
Chart & Comments Updated for AKAM...
The "Support & Resistance Report" identified a 2-member area of Gathering Support between $29.99 and $30.01 going into Monday's trade (June 19th), and so it was found to be.
After printing a low of $29.90 on Monday, Support was found. AKAM rose $1.87 to a subsequent high of $31.77 on Tuesday, June 20th. (See the 5-Minute Chart below).
Traders who use the "Support & Resistance Report" in combination with the "Medved QuoteTracker" received a real-time "Buy" Alert on Monday as soon as AKAM reached its area of "Gathering Support".
AKAM (5 Minute Chart):
Chart & Comments Updated for RIMM...
The 'Support & Resistance Report' identified a 3-member area of Gathering Resistance (Sell Trigger) between $64.84 and $64.89 going into Monday's trade, and so it was found to be.
After printing a high of $64.90, Resistance was found.
RIMM fell $3.24 to a subsequent low of $61.66.
RIMM (5 Minute Chart):
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Chart & Comments Updated for RIMM...
The 'Support & Resistance Report' identified a 3-member area of Gathering Resistance (Sell Trigger) between $64.84 and $64.89 going into Monday's trade, and so it was found to be.
After printing a high of $64.90, Resistance was found.
RIMM fell $3.24 to a subsequent low of $61.66.
RIMM (5 Minute Chart):
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Q: What is the relationship between the "Support & Resistance Report" Spreadsheet and a Stock Chart?
A: The purpose of a Stock Chart is to reveal areas of Support (areas where a falling price will stop falling and begin to rise) and areas of Resistance (areas where a rising price will stop rising and begin to fall).
The "Support & Resistance Report" gleans Support Prices and Resistance Prices from a combination of 4 charts (Daily, Weekly, Monthly and "Point & Figure" Charts). It then presents the gleaned prices in a concise and useful manner by sorting them in descending sequence for each individual stock and by highlighting, in purple, areas of concentrated Support (Gathering Support) and areas of concentrated Resistance (Gathering Resistance).
If the price of a stock is falling, then the report is useful for revealing where the price may stop falling and begin to rise (at an area of "Gathering Support").
If the price of a stock is rising, then the report is useful for revealing where the price may stop rising and begin to fall (at an area of "Gathering Resistance").
Q: What is the relationship between the "Support & Resistance Report" Spreadsheet and a Stock Chart?
A: The purpose of a Stock Chart is to reveal areas of Support (areas where a falling price will stop falling and begin to rise) and areas of Resistance (areas where a rising price will stop rising and begin to fall).
The "Support & Resistance Report" gleans Support Prices and Resistance Prices from a combination of 4 charts (Daily, Weekly, Monthly and "Point & Figure" Charts). It then presents the gleaned prices in a concise and useful manner by sorting them in descending sequence for each individual stock and by highlighting, in purple, areas of concentrated Support (Gathering Support) and areas of concentrated Resistance (Gathering Resistance).
If the price of a stock is falling, then the report is useful for revealing where the price may stop falling and begin to rise (at an area of "Gathering Support").
If the price of a stock is rising, then the report is useful for revealing where the price may stop rising and begin to fall (at an area of "Gathering Resistance").
For Curreny Traders...
The following Currency Indexes have been added to the Support & Resistance Report Spreadsheet and to my Public Charts:
Currencies:
1) $USD (U.S. Dollar - EOD)
2) $XEU (Euro Index)
3) $XBP (British Pound)
4) $XJY (Japanese Yen)