Stock Trading Predictions & Technical Analysis: F & FAS

Thursday, November 19, 2009

F & FAS - Quick Updates

F - SELL SIGNAL

F has now given us a SELL SIGNAL after closing lower today and yesterday despite hitting a 52 week high. F has support at $8.50, $8.25, and strong support $7.75-$8.00. The stochastic has also given us a SELL SIGNAL today. If F does continue lower and falls below $8.50 in the upcoming session, this simply means that F has the potential to fall as low as around $7.75-$8.00 before bouncing back up.

FAS - SELL SIGNAL

FAS today gave us a SELL SIGNAL despite an imminent BUY SIGNAL indicated yesterday it did not happen, and the possible pennant formation failed, and broke down. I indicated yesterday that FAS was a WAIT because it was just below its 50 day MA for which it did not manage to break above and instead pulled back down. FAS has minor support at $72.50 but like I mentioned yesterday it has much more potential of falling back again around $65.00. You can now see why you should not ever take on a position anticipating a move up such as a possible BUY SIGNAL which would have occurred with a break up and a possible pennant confirmation which did not happen. Positions should be taken after a stock price breaks above a resistance level not before when it's trading just below it as it has as much chance if not more of pulling back down like it did today.

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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.