Tuesday, July 31, 2012

Chart of the Day: 8/1 Blue Nile

Chart of the Day for Augst 1st is Blue Nile (NILE)

The weekly chart shows a very strong downtrend in place.  The 50 week EMA and 20 week EMA show strong resistance.  Most rally's in this downtrend have met with sell-offs.



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Disclaimer: This article is intended to be informative and does not constitute a buy, hold, or sell recommendation., and should not be construed as personalized advice as it does not take into account your specific situation or objectives