In response to an E-mail from Harry who gave me a list of stocks to analyze, I am going to take at look at 6 stocks today.
1) RSI did not drop below 40, meaning a downtrend has not yet started
2) On Balance volume is picking up quickly after the gap down. Comparing with the similar level of OBV we have seen before, the stock should be trading at $22.31, meaning we can target a 5% profit in the short term
3) Rounding bottom on MA(50) and INTC did not drop below MA(50) even with a gap down.
4) MACD is recovering quickly and it seems signal line would not cross below zero. We can also expect a bullish MACD crossover in 2 weeks, I suppose.
the same as I last mentioned it on Jan 30th. NVDA broke below its short term uptrend in the first week of 2013, it has bounced back to $12.690 level and testify its break below. After the continuous depreciation of NVDA stock prices, I believe a new downtrend has begun.