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UOB failed to form a “Higher High, Higher Low” uptrend pattern as per last analysis. The stock formed a Double Tops at about $17.60 instead and reversed to down trend since then. UOB also failed to break the neckline resistance after showing a Hammer candlestick. The stock also had a gap down and break below [...]
First Resources showed Bearish Engulfing candlestick pattern at the resistance level. This is a trend reversal pattern and FirstRes is heading towards the next support of $1.23 followed by $1.08 which is the 61.8% Fibonacci Support.
Looks like Raffles Education is likely to rebound for the next few days because a Hammer is observed today. Hammer candlestick is a reversal pattern. In addition, the recent sell down pushed Raffles Education close to 100% Fibonacci Retracement Support Level. RSI and Stochastic are at Oversold region but are showing reversal sign of turning up. [...]