My Stocks Investing Journey » Evening Star

Venture Corp: Forming Double Bottoms

Marubozu — Sun, 30 Oct 2011 06:01:45 +0000

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 candlestick pattern will be formed indicates a reversal to short term down trend again. Anyway, it is a good pattern to trade on Venture on either direction!

Olam: Down Trend Continues

Marubozu — Sun, 13 Mar 2011 13:04:02 +0000

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 a bearish chart pattern.

SNP500 ETF (SPY) – This is it! Shorting Time!

Marubozu — Sun, 06 Jun 2010 13:40:09 +0000

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 200D MA.
MACD shows Bearish Convergence.
RSI and Stochastic started to reverse and head down.

I am expecting SPY to retrace at least 40% during this correction and my target price is $101.5 (38.2% Fibonacci Retracement Level).

Wilmar – Looks Attractive

Marubozu — Mon, 31 May 2010 11:27:21 +0000

Wilmar’s current price looks attractive currently after a huge gap down due to tax accounting issue.

The current level may not be a good entry level for trading because there is a risk of forming evening star candlesticks pattern and may send Wilmar to $5.10 (61.8% Fibonacci Retracement Level).

Immediate support $5.76 which is a gap support.
Immediate resisatnce at about $6.00 which is 78.6% Fibonacci Retracement Level.

Candlesticks Patterns – Morning Star / Evening Star

Marubozu — Wed, 26 May 2010 13:24:23 +0000

Agrium Inc (AGU) – Nice Candlesticks Patterns to Trade!

Marubozu — Tue, 24 Nov 2009 13:41:00 +0000

Agrium has been showing nice & reliable candlestick patterns to trade. Some far the candlesticks patterns have been realiable to predict the future price movement. So far, a few reliable trend reversal patterns like Morning Star, Evening Star, Bearish Kicker were seen. A Dark Cloud Cover pattern was formed on Nov 23 closing, this is another trend reversal pattern. By looking at the chart, AGU bounced back from the resistance of $57.69 and due to pulling back from its recent up trend. I am planning for a PUT option for AGU.