Today's price action has caused the RSI to move above the 30 level, which will likely be used by active traders to suggest that the bulls may be getting ready to stage a short-term move higher. It is important to note that the long-term direction of the trend is downward, as shown on the chart by the descending trendline; however, the recent spike in volume combined with the rise in the RSI suggests that we could see the price move toward the trendline over the short run. (Close)

I noticed that the RSI has recently moved above 30 on strong volume. This crossover is suggesting that the bulls are getting ready to step in. I also noticed that the MACD has crossed above the signal signal, which is confirming my thesis of a short-term move higher. (Close)

Today's break below the support of a descending triangle suggests that the bears will be in control of the stock's direction. (Close)

EQ has a stock price nearing the resistance of its 200-day moving average. A bounce off this long-term resistance level could cause many bearish traders to set their target prices near the March and April lows. The recent bearish crossover on the MACD indicator, a common technical sell signal, will likely be used to confirm the strength of the nearby resistance and to predict a period of short-term weakness. The bulls have their work cut out for them if the want to see the long-term trend shift upwards. (Close)

Take on CBE (Trade Type: Technical Analysis)

Given the nearby resistance of the 200-day moving average, it may be wise for the bulls to remain cautious about the future direction. I find it interesting that the price found support at the $47 level beforehand, which I now expect will act as a barrier to a move higher. I've also noticed that the MACD indicator has recently crossed below its signal line. This bearish crossover confirms the strength of the nearby resistance and it suggests that the bears may be getting ready to send this stock lower again. (Close)

Take on CBE (Trade Type: Technical Analysis)

Given the nearby resistance of the 200-day moving average, it may be wise for the bulls to remain cautious about the future direction. I find it interesting that the price found support at the $47 level beforehand, which I now expect will act as a barrier to a move higher. I've also noticed that the MACD indicator has recently crossed below its signal line. This bearish crossover confirms the strength of the nearby resistance and it suggests that the bears may be getting ready to send this stock lower again. (Close)