Thanks.I like the look of har as it approaches the resistance of its down trend-will keep an eye on it. I see exx also approaching resistance but there are a few reverse H and S lined up so if it breaks out above about 14300 it could move up strongly. I can see shp is in a clear downtrend but I prefer not to short a share that is so oversold.
Thanks Preston. I am still long but having a couple of shorts acts as a sort of hedge. Anyway there are always some shares that go down even when the market is going up so could profit both ways if I pick the right ones.
Preston, pnc gives me mixed signals. On the one hand it is overbought (daily rsi and sto) and is outside the upper bollinger band. Clive Roffey will tell you that this is a good time to short. On the other hand it has broken out of its bear channel which has formed over the last couple of months.I would say it has a target of about 1500 from that breakout.The weekly rsi and sto are also starting to move up from oversold levels. So in my opinion you might make money on a brief pullback but for me it's a bit risky.Personally I only enter a trade when all my ducks are in a row!
I see a negative divergence on the rsi (daily and weekly).It has dropped out of a rising wedge which has formed over the last 9 weeks and also dipped under its long term support line again,so unless it has a strong close today it looks negative. The daily rsi and sto are turning down from overbought levels.The results also disappointed the market.I felt that all that was enough to go short on but one never knows for sure.