Broad Based Damage and Individual Charts

By | July 31, 2014

The damage today was broad based and volume strong. I’ll be looking at the index charts on multiple time frames in detail tomorrow and over the weekend. In the meantime, here are some particular stocks trading in clearly defined technical patterns and how they are reacting.

Action in Microsoft (MSFT) formed a bearish eveningstar pattern on its daily chart. I wrote about another technical issue with this stock last week.

56. MSFT chart

Shares of Berkshire Hathaway (BRK/B) dropped to the lower end of a three month horizontal consolidation channel.

56. BRK chart

A bearish head and shoulders pattern formed on the Netflix (NFLX) daily charts and the stock price broke below its 50 day moving average.

56. NFLX chart

To be continued…

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