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Testing Critical Resistance Here: My Three Observations
Friday, March 11, 2016 11:13
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This rally has come out of nowhere, and it is doing it completely overbought prior to today.
The run-up into two key resistance points that conjoined at one specific price point, creates the potential for the market to fail here and not have anything left in the tank that would allow for it to break through.
See for yourself:
Ryan Mallory is the co-founder of SharePlanner Inc, a financial website devoted to Day-Trading, Swing-Trading (both long & short) and exchange-traded funds. Ryan makes a strong emphasis on risk mitigation strategies, trading transparency, and trader education – not to mention a great set of stock screens as well.
Be Sure to Check out Ryan’s Site at Shareplanner.com
Source: http://www.shareplanner.com/featured-blogs/ryan-mallory/market-analysis/22269-testing-critical-resistance-here-my-three-observations.html
