Courage Marine – is it getting bullish?

This week this counter has a very long marubozu candle and close the week at $0.235 with a volume spike of 13.9M shares traded in one day (on Aug 14). Standard Six Technical Indicators are signaling short term bullish convergence.

Week TA Summary
* Stock price above 20D, 50D and 200D MA and all three MAs are in uptrend. 20D MA crossed 50D MA.
* Stock price on the upper boundary of Bollinger Band.
* MACD crossover (blue over red) on upper half showing bullish convergence.
* Stock price on top of Parabolic SAR.
* RSI at 55%.
* Stochastic blue-red crossover in the up trend.

The chart is also having a very nice Fibonacci retracement back to $0.197 (61.8%) and should form a very strong support line. If the stock price can break the resistance of $0.25 and stay on top of $0.25 with healthy volume, it may go all the way up to $0.337 (161.8%) by Jan 2010 base on Fibonacci fan.

Stock Background
3 Years Historical High = $0.51
Current Price = $0.235

WOW! I have my own investing 10 commandments now! :)

  1. I am 100% responsible for my own decision. I have to digest those information or data for whatever tips, information, recommendation given by anyone, do my own analysis and make my own conclusion.
  2. I need to filter noises in the market. Need to differentiate facts and rumors.
  3. Be disciplined in my investment plan and investing strategy. Don’t get influenced easily by others.
  4. Learn from others and never stop learning.
  5. Don’t be hero in the market. I can never beat the market.
  6. Be firm when it is time to get out of the position and cut loses. (this is quite tough to me for the time being but I have made some good progress)
  7. Endure, endure, and endure! Wait for the right time to buy. (Now I start to understand what the trainer taught me: the toughest thing to do is to wait!)
  8. Invest what I can afford to lose.
  9. Don’t put all eggs into my basket. Diversify my portfolio but don’t over diversify.
  10. Don’t be greedy!

I have to make a disclaimer. Murphy’s Law!

Thanks for my buddy’s reminder that I better make a disclaimer here just in case. Murphy’s law always applied and I don’t want to get into any trouble in future by sharing my ideas and stock analysis here.

Whatever I write in this blog is my personal opinion and ideas. I am not a stockbroker, broker dealers, or any registered investment advisors. I am just a beginner learning how to invest using technical analysis and value investment methods learnt from my course. If any particular stocks and investments are mentioned, they are just my “homeworks” (I have buddies system to kick each other butt) or “leisure works”. It is not a recommendation to purchase or sell any of the securities, businesses or investment discussed in the blog.

I base on my own understanding to do the analysis but I cannot provide any warranty or guarantee regarding the accuracy, reliability, veracity or completeness of the information provided herein. The author and those are so kind to provide comments here disclaim any responsibility for any liability, loss or risk, which may arises as a consequence, directly or indirectly, from the use and application of any of the ideas, strategies or techniques I share here.

End of the serious stuff!