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Re: JLS post# 3391

Thursday, 03/26/2020 11:22:00 PM

Thursday, March 26, 2020 11:22:00 PM

Post# of 3562
Interesting analysis. Here is mine:

Support at 7.91, 7.75
Resistance at 8.09, 8.35, 8.90 (also currently 200 dma)
MACD lagging indicator - positive crossover on daily at close
Stoch is a leading indicator - turned up on March 18 for daily with decent potential upside
RSI of no consequence - 50 on 30 min and 40 on daily

On 30 minute:
Stoch turned up at 3pm today potential for good day tomorrow
Support tends to follow the 50 ma
Resistance tends to follow the 200 ma
Potential for a golden cross tomorrow or Monday - meaning
Potential for a short term pinch

Weekly Stoch still negative, but converging quickly.

There is a potential breakout over the next couple of days. May have a second try at breaking through 8.35. Looking to test 8.90 very soon. Keep an eye on the daily and weekly Stoch.

Tuesday is March 31. Teva announced that they will have 6 mil hydrochloroquine and chloroquine tablets to hospitals by Tuesday. A PR would be expected. This could be a catalyst to push it over 8.90. Otherwise, expect heavy resistance in that range.




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