Chart courtesy of www.stockcharts.com ( click to enlarge )JASO - Wednesday, JASO bounced back the last part of the day, as the stock closed up $0.08 on the day. At this stage the stock is oversold and could bounce. Despite weak signal from MACD in the technical daily chart as MACD and signal line are below 0, the technical indicator KD line is showing strength where K line has just rose on top of D line indicating buy. I'm using the 200-day moving average at $3.60 as a reversal resistance level for this move. I notice also a bullish divergence formed on the daily chart supporting a bounce from these levels.
Chart courtesy of www.stockcharts.com ( click to enlarge )SIRI is looking pretty bearish after the top and then a failed consolidation. Several indicators point towards a substantial short-term change. Looking at the daily chart the stock broke down today, reversing a two-month uptrend. In addition, MACD fast line crossed below slow line, another bearish signal for stock in short term. First support is at $0.583 with stronger support down at $0.55. A clear break and close below these levels would indicate further down moves in the stock, as new bearish formations would get confirmed.
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Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's all Folks. See you tomorrow...
Cheers!
AC
