1st-May-2011–Pattern Study C, BAC, GS, WFC, UBS, FAS and FAZ

Ticker:

 

1. C, BAC, GS, WFC, UBS, FAS, FAZ

 

Topic:

 

1. If you refer back to the post http://stockaki.blogspot.com/2011/03/30th-march-2011pattern-studyc-bac-and.html, the prediction on the banks are somehow right on path
2. Now

 

Lesson Learnt:

 

1. FAS is forming a triangle. Need to decide where it will go first. Same goes for C.
2. FAZ is coming down to test its support trend line.
3. UBS form a double top pattern, however this stock looks most bullish among all.
4. BAS looks really weak. Now testing its support line $12.30.
5. GS looks even worse, broken down from the triangle that it formed. Also below all its MA lines. Looks more like a shorting opportunity.
6. WFC is the one that look much more healthier with the support now at 50MA line at $28.60
7. Monday might gives us indication whether we should go LONG or SHORT financial stocks.

 

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