CHICAGO, April 5, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "InvestmentMAGE".
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What Does Ichimoku Cloud Mean?
A chart used in technical analysis that shows support and resistance, and momentum and trend directions for a security or investment. It is designed to provide relevant information at a glance using moving averages (tenkan-sen and kijun-sen) to show bullish and bearish crossover points. The "clouds" (kumo, in Japanese) are formed between spans of the average of the tenkan-sen and kijun-sen plotted six months ahead (senkou span B), and of the midpoint of the 52-week high and low (senkou span B) plotted six months ahead.
Investopedia explains Ichimoku Cloud
The ichimoku cloud was developed by Goichi Hosoda, a Japanese journalist, and published in the late 1960s. It provides more data points than the standard candlestick chart.
The overall trend is up when prices are above the cloud, down when prices are below the cloud and flat when they are in the cloud itself. When senkou span A is rising above senkou span B the trend is stronger upward, and is typically colored green. When senkou span B rises above senkou span A, the trend is stronger downward and is denoted with a red-colored cloud.
Why is this important?
If you're in the 'trend is your friend' camp, this is a good tool to add to your toolbox.
The most recent picks by <InvestmentMAGE> are:
A buy rating on Southwest Airlines (NYSE: LUV),
a buy rating on Value Line (Nasdaq: VALU) and
a sell rating on Direxion Bullish ETF (NYSE: FAS).
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. Learn more about People And Picks.
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