Sense & Guts - Technical Analysis Headline Animator

Sense & Guts - Technical Analysis

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What is Technical Analysis?

Technical Analysis is the forecasting of possible future price movements based on the past or historical records. Like other forecasting methods, it is using the past to determine the possible future, although the result may not be 100% accurate but it helps investors to anticipate what is the possible price movements ahead.

Technical Analysis is used by many investors and fund managers. It helps them to determine the trend of the market and individual stock, as well as the timing for entry and exit in their investment.

Tuesday, June 17, 2008

Dow Jones Index

DJI has closed at 12,269 last night. It had touches its top downtrend line at around 12360 before moving down again. Breaking it will see it moving up again with the next resistance at around 12750 (200d EMA). But if it fail to break the top downtrend line, we may see it continue to move down with the support at 12040, 11650 follow by 11500.

Base on the indicators, MACD is still in bearish region, but looks like it may crossover the signal line soon. As for stochastic, it has just came out of the oversold region and RSI still remain weak.
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