Cosco – will be breaking out from the triangle soon!

What goes up must come down, what come down must go up! Although Cosco’s stock price has been beaten down recently, it has very big upside potential in the long term although the current fundamental is not really fantastic.

There are signs that Cosco will be breaking out from the triangle soon. The gyration of the wave is getting smaller as every day goes by. The stock price is currently testing its 20D & 50D MA support line. If it breaks out from the triangle and move south, the next support line is $1.15 (61.8% Fibonacci Retracement). If it breaks out and move north, $1.45 will be a strong resistance.

3 Years Historical High = $7.9
Current Price = $1.25 (16% of the 3 years historical high)

Raffles Education – Bounced back from 200D MA & reversed the trend!

What a big difference within a week! Last week the chart looked so bearish but today the stock price closed at $0.53 (with 48 million shares traded, #9 most active stocks of the day) showing a “Three Inside Up” reversal pattern after bounced back from 200D MA trend support of $0.51. Technical Indicators like Parabolic SAR, MACD, RSI and Stochastic are showing sign of reversal of bearish trend to bullish trend.

I was unable to resist this golden opportunity and entered the trade at $0.525 this evening. The support levels are pretty strong at $0.51 (200D MA) & $0.535 (61.8% Fibonacci Retracement Level).

Epure International – Double Tops Formation

Epure has formed a double top and probably will start the down trend and retrace back to $0.45 base on 61.8% Fibonacci Retracement by latest end Dec, 2009 (base on Fibonacci Fan).

Epure International is a Leading Water and Wastewater Treatment Solutions Provider and recently won a number of projects. Expect good earning in the near future the projects are completed and revenues are recognised.