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Analysis of IWM(Russell 2000)Disclaimer - I don't share of IWM ETF. This analysis is not a trading or investment recommendation & is only for educational purpose. 1.IWM has been in a lower high lower low structure after the false break out. 2.The long consolidation support area was broken indicating that the activity during consolidation was distribution. 3.IWM has paused its downtrend & has formed a 1-2-3 structure & also evidenced through positive RSI divergence. 4.However, the current up move from a low of 188.09 is not backed by an increase in volume but a negative volume divergence has been seen which is not desired during a trend reversal. 5. Immediate major points of resistance are: a) around 204 which is point#2 of the 1-2-3 structure. b) followed by the $208 level which is the bottom of the consolidation area that has turned from support into resistance. c) 200DMA around $222 d) Last major lower high around $227 e) Consolidation high around $233 f) False break out high around $245. Those following harmonics would also notice that IWM has formed a 1.618AB = CD pattern Finally, a breakout above $245 starts a brand-new up trend from the Russell. If IWM crosses the $222-$230 area & sustains itself above the 200DMA, we could see a change in the overall trend from negative to positive however it will still face strong headwinds from the resistances above $230. All the best!
AMEX:IWM
by Venkat_014
KRITI INDUSTRIES DAILY CHART ANALYSIS AS ON 11.02.2022 POSTED 10.02.2022 for KRITI INDUSTRIES above 123 for a Target 128. Today 11.02.2022 stock couldn't break the Trend line to reach buy level. Market turned out to be bearish due to higher inflation in USA and more increase in fed interest rates.Market will continue to be volatile as DII are in buy and FII are in sell mode. Will update for any stocks only market turns positive for a buy and also any stock has the possibility to achieve Targets like NDTV which i had posted 10.02.2022.
NSE:KRITI
by UnknownUnicorn19608572
ASPINWALL AND COMPANY DAILY CHART ANALYSIS AS ON 21.01.2022ASPINWALL AND COMPANY as per daily chart analysis stock above 196 for a target 202. Resistance at 204. If Nifty falls below 17617 then the support is at 17366 level. If Nifty moves above 17617 then the next resistance is at 17833. According to me being " W " pattern completed on 21.01.2022 nifty forming a doji shows it is heading with a " M " pattern. FII selling been continuing and its keeping the market weak. Companies have started declaring DEC 2021 Quarterly results and we are also closer to the budget announcement. The market will be Indecisive and Range Bound.
NSE:ASPINWALL
by UnknownUnicorn19608572