As a valued client of KFIC and Mutadawil, you would be able to view a complimentary technical analysis update from CraftyStox.com
in this page every now and then. Here is a sample of the work that you will likely see. We hope you enjoy this service
and improve your trading style. Mutadawil gives you access to profits in the stock markets, and CraftyStox shows you how to trade
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7 July 04, QQQQ closed at 36.03
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The QQQQ has stopped exactly at the 61.8% retracement level shown in the chart. We would like you to observe the various points of contact indicated by small yellow colored arrows in the chart. These levels have all been respected by the market in the past, and it is no wonder that we have paused at 35.83. However, you need to know that the down trend intensity is still very much in favor of a continuation of selling, and this means a break of 35.83 is not only probable, but you should also expect it to decline to 35.55. However, when the Qs reach 35.60, you should not wait any more. Leave take-profit orders at 35.60, a few cents above the technical target of 35.55. Waiting for the last point is a mistake because the professional traders are all going to be buying there. You should also protect the profits that you already made. In the unlikely event the Qs rally directly, we want to keep an order to get out of the short position at 36.27 if it trades there directly. (Observe that 36.25 marks the 50% level, and a break above that is a warning that a correction is underway).
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