Daily Stock Chart Check

Good Morning, The Dow looks to be wanting to come back to its 13 day and 21 ema before it moves to its resistance level of 10,514. Dow futures are pointing slightly down to flat this morning but that could all change after the open.

IPG - One of my two active trades went up and hit its resistance level and now going back to meet its 13day and 21 day ema. I will wait for the bounce. Take a good look at this chart and you will see a classic head and shoulders formation forming(See the shoulder to the left and the head in the middle and the right shoulder is forming). It would be great to see it bust through resistance of 7.22 today!!

HCBK - As you can see from the chart it is bouncing off its support level looking for follow through today.

When you are looking at support and resistance levels you should see at least 3 points of where the stock bounced off of those levels, as you can see on this chart there are 5 good points where it bounced off and continue in a upward direction from its support levels. These are the type of stock charts that I look to trade because they show some predictability and trend.

Until tomorrow.......Happy Charting!