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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 [...]
An Evening Star Candlestick pattern was observed at the 50% Fibonacci Resistance a few days ago. As expected, Olam reversed to down trend after the rebound. Current support is $2.645 followed by $2.471. Note: Olam is currently trading below 20D, 50D and 200D MA. The 20D MA has also crossed down 200D MA which is [...]
I have been waiting for a right time to short the S&P500 ETF (SPY) and finally I found clear signals to short this ETF by buying PUT Option. Bearish Signals Evening Star candlestick pattern. SPY was unable to break the 200D MA resistance and bounced down. 20D MA is coming down very steeply to cross [...]