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Venture is forming a Double Bottoms chart pattern with neckline at about $7.00. Price Target for this Double Bottom breakout is $7.60. However, current candlestick pattern does not suggest the breakout soon as a Hanging Man was formed at the 50D MA resistance. If a bearish candle is form in the next trading day, an Evening Start [...]
HL Asia has a Double Bottoms chart pattern failure. The stock was unable to break the neckline resistance and the stock price headed south since then. Currently HL Asia is trading below the 3 Moving Averages. Also take note that 200D MA (a long term trend) is sloping down which is a bearish sign.
Swiber is coming back to test the 20D/50D MA support and possibly the neckline of the Double Bottoms. If Swiber can stay above these supports, a “Lower High, Higher High” up trend pattern is formed but Swiber needs to clear the 61.8% Fibonacci Resistance at $0.88 first for the confirmation.