Tuesday, July 12, 2011

PWR: Enter Parabola

Entered the 70 RSI levels on the daily chart today, closing slightly higher than its second weekly resistance(1.26):



However, prices have dropped below the 70 RSI levels on the 5-minute chart:

Weakness on the 5-minute chart chance to average up since the bigger time frames are bullish? RSI confirmation once it bounces off the 50 RSI levels.

Meanwhile, it has entered the 70 RSI levels on the weekly chart today, closing slightly higher than its second weekly resistance(1.26):


Flag pattern target(breakout point: 0.88): 1.55

While staying afloat in the 70+ monthly RSI levels the entire time:



MR3: 1.58
PWR trading at MR2(1.26). Wait for a pullback before adding up.