Ezion – Trading in a Down Trend Channel

Ezion is currently trading in a Down Trend Channel. The stock is forming a “Lower High, Lower Low” chart pattern.

Downside risk is higher because Ezion will be facing a few resistances between $0.67 to $0.75:

  • 50D MA
  • 78.6% Fibonacci Retracement Level
  • 200D MA
  • Down Trend Channel Resistance

If the Down Trend Channel pattern is still valid, Ezion will probably go below $0.573 in the next few months.

Raffles Education – In a Down Trend Channel

Raffles Education is currently on a down trend channel. The stock price is under 20D, 50D and 200D MA which is a very bearish trend. Also note that 20D MA is currently under 200D MA implies great downward momentum in the short term.

Technical Indicators like Parabolic SAR and MACD are near to show bearish convergence. RSI and Stochastic are heading down.