Scoring surprisingly well in its February gains, indications are now showing a decrease in investor sentiment towards buying further. The asset since yesterday has become officially overbought and is accompanied by a break and recourse form resistance level 1207.392. looking towards today the asset is seen to be making a few small moves but nothing serious until next week, making it ideal for short trades. Traders are advised to trade following the assets movement on options of 15 to 30 minutes.
Fundamental events are in effect this month with Facebook. This is no cause for alarm however the stock has generated a pattern previously seen in late 2013. As the day moves on into the US trading hours we should see a stable holding pattern around resistance 68.5468 and support 66.4405. looking towards tomorrow as well the stock is going to be declared overbought as well and should be kicking off next week with a downtrend in swing. Traders are advised to take options for 1hr depending on the current direction trending on the asset.
Another great example of predictable movement comes from Apple. Looking to hold on to its position after such a major correction to a bullish market, Apple is slated for sideways movement. Now bouncing back form support level 536.043, the short uptrend is looking promising. Both stochastic and RSI support the conclusion as well as previous patterns exhibited by the stock. Traders are advised to keep an eye out for a strong-short rally to resistance 549.445. Options should very from 30 minutes to 1 hour.