Monday, September 12, 2005

Weekly Analysis

I will try to give my opinion based on my knowledge of technical analysis. I'm not sure how the image will turn out when uploaded. I will base my reading on the weekly chart as it will give an indication of the long term trend.

The MACD shows that this is an uptrend, but as it is reducing, that means we are in consolidation mode. If it keeps reducing, then we are in the BEAR mode. Last week, a white candle was made on the chart giving a bullish engulfing candle. This usually indicates the change of trend (going up?) The RSI curve up at 50. Another good sign. With DJI rallying last week, I think that it will go up some more. Target about 960???

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