Technical Analysis of Everyday Stocks

1. MACD (Daily Chart) Current Status : MACD line at  -2.15 , Signal line at  -1.80  (Bearish crossover) Histogram shows  expanding bearish momentum Key Observation : Needs to cross above signal line to suggest trend reversal Implication : Current downtrend remains intact 2. RSI (14-Day) Current Reading :  41.50  (Neutral but leaning bearish) Recent Behavior : Failed to reach 60 in last rally (shows weakness) Not yet oversold (room for more downside) Critical Level : Break above 50 needed for bullish momentum 3. Elliott Wave Count Likely Scenario : Completing Wave C of corrective ABC pattern Potential downside target: $480-$490 zone Bullish Case : Wave C completion could setup new impulse wave Invalidation : Break above $550 needed for bullish confirmation 4. Candlestick Patterns Recent Formations : Multiple bearish engulfing patterns Lack of strong reversal signals Volume Analysis : Down days coming on higher volume (bearish) 5. Stochastic Oscillator Curren...

1. MACD (Daily Chart) Current Status : MACD line at  -1.50 , Signal line at  -0.80  (Bearish crossover recently) Histogram shows  slight contraction  in bearish momentum Key Level : A bullish crossover above the zero line could signal trend reversal Action : Wait for confirmation - potential reversal if MACD crosses above signal line 2. RSI (14-Day) Current Reading :  54.30  (Neutral territory) Trend : Recovering from oversold (30) in early June Facing minor resistance at 60 level Divergence Watch : No significant bullish/bearish divergence yet 3. Elliott Wave Count Likely Scenario : Completing Wave 4 correction (ABC pattern) Potential Wave 5 upside if $210 holds Critical Level : Breakdown below $195 would invalidate bullish count Projection : Wave 5 target: $230-240 if pattern holds 4. Candlestick Patterns Recent Formations : Bullish hammer formed at $195 support (June) Current price action showing indecision (small-bodied candles) Volume Analysis : R...

1. Moving Average Convergence Divergence (MACD) Observation : If  MACD line > Signal line , bullish momentum is building. Recent crossover (if any) suggests trend reversal potential. Histogram bars expanding upward = strengthening momentum. Current Status : If MACD is negative but narrowing, a bullish reversal may be forming. If MACD is positive and rising, uptrend is confirmed. Conclusion : Watch for a bullish crossover above the signal line. 2. Relative Strength Index (RSI) Observation : RSI > 70  = overbought (risk of pullback). RSI < 30  = oversold (potential bounce). Currently, if RSI is  between 50-70 , bullish bias holds. Conclusion : Neutral to bullish if above 50; bearish if below. 3. Elliott Wave Theory Observation : If IBM is in  Wave 3 (strong uptrend) , expect further gains. If in  Wave 5 (final bullish wave) , a reversal may be near. If correcting in an  A-B-C pattern , watch for Wave C completion. Conclusion : Needs confirmation...

  1. Moving Average Convergence Divergence (MACD) Observation : If the  MACD line  is above the  signal line , bullish momentum is present. Recent crossover (if any) would hint at trend reversal. Histogram trending upward suggests strengthening momentum. Conclusion : Bullish if MACD is above signal line; bearish if below. 2. Relative Strength Index (RSI) Observation : RSI near 70  = overbought (potential pullback). RSI near 30  = oversold (potential bounce). Currently, if RSI is in the  50-70  range, bullish bias remains. Conclusion : Neutral to bullish unless RSI breaks below 50. 3. Elliott Wave Theory Observation : If LULU is in  Wave 3 (impulse up) , expect further gains before a Wave 4 pullback. If in  Wave 5 (final bullish wave) , a reversal may be near. Needs confirmation with volume and trend structure. Conclusion : Bullish if in early waves; caution if late-stage Wave 5. 4. Candlestick Patterns Observation : Bullish : Hammer, eng...