My Stocks Investing Journey » Ascending Triangle

OCBC Breaks Down from Ascending Triangle

Marubozu — Sat, 18 Jun 2011 14:25:38 +0000

OCBC has broken down from an Ascending Triangle and heading towards the price target of $8.60.

Current OCBC chart is bearish as the stock is trading below all 3 moving averages. 20D MA has crossed down 200D MA which is a down trend signal.

OCBC Bank: Good Entry Now

Marubozu — Tue, 31 May 2011 03:10:32 +0000

OCBC Bank is forming an Ascending Triangle and currently bounced back from the Triangle support at about $9.30 which is also the 200D MA support. Current OCBC stock chart looks like going to move above all the 3 Moving Averages and heading towards the potential breakout of this triangle chart pattern. MACD is heading towards a bullish convergence region too. Breakout target price is about $10.20. Current level looks like an attractive entry level to ride on the short term bull trend for OCBC Bank.

However, current chart pattern will not be valid if OCBC breaks below the 200D MA support.

Ziwo Breaks Out!

Marubozu — Mon, 03 Jan 2011 02:43:33 +0000

Ziwo is breaking out from an Ascending Triangle with a price target of $0.434 (which is also a 138.2% Fibonacci Retracement Level).

Gallant: Closing in 52 weeks high!

Marubozu — Wed, 15 Dec 2010 08:07:12 +0000

Gallant has reached the target price of $0.37 since last breakout from the Ascending Triangle. Currently Gallant stock price is close to 52 weeks high and high chance to pull back when reach the resistance at about $0.46.

Wilmar International: Testing an Important Resistance

Marubozu — Sun, 17 Oct 2010 07:07:47 +0000

Wilmar is testing an important resistance for the 3rd time at about $6.45. Do take note that this level proves to a strong and tough resistance to be broken for the past few occasions. Coincidently this level is also very near to the current 200D MA, and also the resistance of a potential Ascending Triangle pattern. If this $6.45 is broken, the next immediate resistance is at $7.00. Else, Wilmar will reverse the trend with the immediate support at about $6.044 (78.6% Fibonacci Retracement Level).

HL Asia: Wait for Breakout

Marubozu — Sun, 01 Aug 2010 07:29:53 +0000

HL Asia is trading within an Ascending Triangle. At the moment, the direction is not very clear because HL Asia may breakdown or breakout to go up. Looking closely at the chart, a mini double top is formed with the neckline (green) somewhere between $3.40 to $3.50. Breaking down from this mini double top will send HL Asia to $2.80. Reversely, if the mini double top resistance is broken (about $3.60), the price target of this breakout is $4.20.

Goodpack:Forming a Wedge

Marubozu — Sun, 04 Jul 2010 03:29:44 +0000

Goodpack’s chart show a Rising Wedge formation and maybe an Ascending Triangle formation. At the current chart pattern, Goodpack may be coming down to test the wedge support at about at $1.50 to $1.55 level, somewhere near 78.6% FR level. Punching below the 20D MA support is the 1st signal. Next immeidate support is 50D MA.

Chart Patterns – Ascending, Descending and Symmetrical Triangle

Marubozu — Wed, 26 May 2010 15:39:03 +0000

Yangzijiang – Breaking out from an Ascending Triangle

Marubozu — Thu, 26 Nov 2009 03:22:00 +0000

Yangzijiang broke out from an Ascending Triangle on an uptrend with an increase in volume. If the stock retests $1.06 and can stay above this resistance turned support level, the price target is about $1.32 (but need to clear $1.243 resistance first).

Keppel Corp – Breakout to go NORTH or go SOUTH?

Marubozu — Fri, 30 Oct 2009 15:16:00 +0000

Keppel Corp has formed an Ascending Triangle but it may form a Triple Tops if the stock breakdown from the Ascending Triangle. If the stock can stay within the Ascending Triangle and breakout from the resistance line of $8.42, the stock may go up to $10.30.
However, if Keppel Corp breakdown from the Ascending Triangle at around $8.20 and goes below $7.80, a Triple Tops is formed and send the stock to $7.20.

I have also compiled Analysts’ recommendation in the following table:

Keppel Corp still has upside potential base on today’s closing price of $8.19. The key consideration is to time the right price to buy to maximise the gain.