Bearish MACD Divergences INFY

[gitonwithit]

As of today, my best "bear" divergence is INFY.

Seems to have a bearish macd divergence on the weekly starting about mid Dec 2004 with the ADX starting to confirm the rollover.

The daily chart seems to be a duplicate of the Nov 04 bearish divergence which setup the drop from $70 to $60. Again the ADX just beginning to confirm.

stockcharts.com/def/servlet/SC.web?c=INFY,uu[h,a]daclyyay[dc][pc20!c50!f][vc60][iLa12,26,9!Ll14]&pref=G

Going short tomorrow if I can get em. Do your DD and good luck.

[DJF]

Point-n-figure shows new highs on declining volume - another bearish indicator favoring near term downside. Keep an eye on the money flow, it is declining but is still in bullish territory. Did you go short?

stockcharts.com/gallery/?infy

DD as always,
DJF

[gitonwithit]

Tried four times, but never could get any shares.

[gitonwithit]

<Tried four times, but never could get any shares.>

And that seems a shame, considering today's pps.