Category Archives: Rotary Engineering

Jun 11

Rotary Engineering – Trading in A Rectangle

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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 07

Rotary Engineering – Bullish Engulfing Pattern!

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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.