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SI trade ideas

SI Daily Analysis 10/12/2013This is a chart based on a previously made chart, Study of Gaps published 9/18/2013 Overall, based on analysis of measuring gap, being the halfway point of the price movement, the resistance was calculated at $125-126. This proves to be surprisingly accurate, as it played out in the weeks following the analysis. Overall, the momentum and price both experienced some recovery (not big of a hit from the macro issues comparing to the domestic stocks). I expect MACD and RSI to both continue to recover, and I expect the stock to retest the resistance at $125. Fingers crossed.
NYSE:SILong
by kungfuguo
SI Daily Analysis 9/18/2013Confirmation of bullish break out and study of gaps Break out of consolidation zone $96-112 occurred last week, with break out of long term resistance at $112 with above average volumes. It is confirmed in the days following it and this week Now $112 is acting as a firm support. The next meaningful resistance is at $125. This chart is also a demonstration of different types of gaps Breakway gap : It occurs when prices break away from an area of congestion. When the price is breaking away from a triangle (Ascending or Descending) with a gap then it can be implied that change in sentiment is strong and coming move will be powerful. One must keep an eye on the volume. If it is heavy after the gap is formed then there is a good chance that market does not return to fill the gap. When the price is breaking away on a low volume, there is a possibility that the gap will be filled before prices resume their trend. Common gap : It is also known as area gap, pattern gap or temporary gap. They tend to occur when trading is bound between support and resistance level on a short span of time and market price is moving sideways. One can also see them in price congestion area. Usually, the price moves back or goes up in order to fill the gaps in the coming days. If the gap is filled, then they offer little in the way of forecasting significance. Exhaustion gap signals end of a move. These gaps are associated with a rapid, straight-line advance or decline. A reversal day can easily help to differentiate between the Measuring gap and the Exhaustion gap. When it is formed at the top with heavy volume, there is significant chance that the market is exhausted and prevailing trend is at halt which is ordinarily followed by some other area pattern development. An Exhaustion gap should not be read as a major reversal. Measuring Gap : Also known as Runaway Gap, a Measuring gap is formed usually in the half way of a price move. It is not associated with the congestion area, it is more likely to occur approximately in the middle of rapid advance or decline. It can be used to measure roughly how much further ahead a move will go. Runaway gaps are not normally filled for a considerable period of time.
NYSE:SILong
by kungfuguo
1
SI 7/21/2013 (weekly analysis)I plotted the chart on the Fib grid to analyze support and resistance levels. As you can see here, $95 (38.2% retracement) has been the strongest near term support, followed by $101 (50% retracement). We had a fabulous week, finishing the week at $109, which corresponds to 61.8% retracement. Note, last time it approached this level, it was sharply rejected, then was followed by a downtrend, until it found the support around $95. Next week is the key. If it is unable to break out, I expect another downtrend, heading toward $101, and possibly $95. I am optimistically cautious, however, as MACD demonstrates a bullish divergence. Good luck everyone.
NYSE:SI
by kungfuguo
SI 7/21/2013 (W)Here is a weekly chart for SI. I plotted on the fib grid to look at the near and long term supports and resistances. What I want to point out here is that we finished the week at the key resistance of $109, which corresponds to retracing of around 61.8%. Last time this was rejected, which was followed by a mini-down trend, until it found the support around $95. Next week will be the key. If unable to break the resistance, we will find ourselves re-testing the near term support at $100, then at $95. Of note. MACD is showing bullish divergence, hopefully, a breakout will follow. Good luck.
NYSE:SI
by kungfuguo