June 11th, 2010 by Marubozu
Rotary is currently trading within a rectangle. Rectangle’s resistance is $1.18 and rectangle’s support is $0.874.
In the near term, Rotary is going to test 20D MA resistance to see whether this rectangle pattern is still valid. Failing to break this 20D MA resistance and breaking the rectangle’s support will trigger a bearish down (a formation of lower low, lower high pattern) trend for Rotary.
May 7th, 2010 by Marubozu
Rotary Engineering is showing a Bullish Engulfing candlestick pattern today. This is a trend reversal pattern after a down trend.
- Next Immediate Support is at about $1.00.
- Next Immediate Resistance is at $1.06 which is 50D MA, 200D MA and 78.6% Fibonacci Retracement Level.
- In order for Rotary to start an uptrend, the stock price need to stay above $1.10 which is above all three MA first, and subsequently clear $1.18. Otherwise Rotary may be moving sideway between $1.00 and $1.18.
November 21st, 2009 by Marubozu
Rotary Engineering has formed a descending triangle. The stock price is currently below 20D and 50D MA. If Rotary breaks down from this descending triangle, it may go down to $0.80.
