My Stocks Investing Journey » Up Trend Support

Singapore Airlines (SIA): Watch the $11.00 Level

Marubozu — Sun, 13 Nov 2011 07:01:27 +0000

Singapore Airlines (SIA) looks like dropping out from a mini up trend channel support after the recent poor earning announcement. MACD is weakening and the stock price is trading below 20D, 50D and 200D MA. Also take note that 20D MA starts to turn down.

SIA is still on the long term down trend as its 200D MA is sloping down on the daily chart. SIA is also trading just below 2W, 5W, 12W MA of the weekly chart.

Watch this $11.00 support level. Breaking below this support may send SIA down to $9.20 target price of the Head and Shoulders chart pattern. SIA may rebound from this support level but taking into the macro-economy into consideration where most of the corporate have started to impose international travel freeze, the uncertainty in European debt crisis and the high level of oil price, I don’t see the any positive catalyst to proper SIA to the uptrend.

STX OSV: Sell Down with High Volume!

Marubozu — Fri, 16 Sep 2011 16:02:32 +0000

STX OSV has a massive sell down on last trading day. The stock is currently testing the uptrend channel support and the 61.8% FR support at about $1.216. This uptrend support is also the neckline of a skewed Head and Shoulders chart patten (can you see it?). Breaking this neckline support will send STX OSV to breakdown target price of about $1.00.

Yangzijiang: Bull is Missing!

Marubozu — Mon, 21 Feb 2011 04:06:10 +0000

Yangzijiang current chart shows that Bull is Missing for this China ship building stock. The following bearish signs are observed:

Yangzijiang has formed a Multiple Tops.
Yangzijiang has broken the short term up trend support (red line). This up trend support has since tured to resistance.
Yangzijiang is unable to break the 20D MA resistance.
A “Lower Low, Lower High” chart pattern is observed in Jan 2011 to Feb 2011.

Next immediate support is $1.86 followed by the long term uptrend support (green line) which close to the 200D MA and 78.6% Fibonacci Retracement Level.

COSCO: Break Up Trend Support

Marubozu — Wed, 16 Feb 2011 13:39:14 +0000

COSCO Corp seems like have broken the uptrend support and trading about $2.10 (78.6% FR Level). If COSCO cannot rebound from this level and break the $2.20 resistance (Uptrend support turned resistance and 50D MA resistance), COSCO may start the trend reversal and the next support is at 61.8% FR level at about $1.885.

NOL: Breaking the Up Trend Support?

Marubozu — Wed, 16 Feb 2011 13:33:37 +0000

NOL looks like going to end the up trend if this Up Trend Support is broken. A very important level to watch is $2.10 which is the up trend support, 78.6% Fibonacci Retracement Support and also the 200D MA support. Breaking below this support level may reverse NOL stock price to have a bigger correction.

Keppel Land (Kepland): The End of the Up Trend

Marubozu — Sun, 13 Feb 2011 06:54:22 +0000

Keppel Land (Kepland)’s uptrend ended after breaking down from the Falling Wedge and break the uptrend support. A Bullish Harami candlestick pattern was formed at 78.6% Fibonacci Retracement Support Level and thus expect KepLand to consolidate around $4.19. Also take note that this $4.19 is also the 200D MA support. Next support are $3.85 followed by $3.514 (61.8% Fibonacci Retracement Level) if Kepland breaks this 200D MA support.

Straits Asia Resources: Waiting for a Nice Rebound

Marubozu — Sat, 12 Feb 2011 12:48:01 +0000

Straits Asia Resources has been in retracement mode back to the uptrend support level. This uptrend line proved to be a good support on the past 7 occasions. You can see SAR rebounds from this support line everytime the stock touches this uptrend support line. This support also coincides with the 78.6% Fibnonacci Retracement Level. So, keep a close watch and wait for a nice rebound.

If this rebound does happen, next resistance is $2.80. If SAR still cannot clear this $2.80 resistance for the 3rd time, it may be time to get out of this stock because there may be a formation of Triple Tops or Head and Shoulder chart patterns. Either one of this pattern is a trend reversal pattern.

Previous Posts on Straits Asia Resources.

Keppel Corporation (KepCorp): Break Up Trend Support!

Marubozu — Sat, 12 Feb 2011 12:46:11 +0000

KepCorp broke uptrend support with increase in trading volume! In addition, KepCorp broke the 50D MA support too. This indicates the end of uptrend for KepCorp.

Next immediate support is at about $10.38 which is the 78.6% Fibonacci Retracement level followed by 200D MA support.

China Animal Healthcare: Watch The Uptrend Support!

Marubozu — Thu, 10 Feb 2011 14:45:31 +0000

China Animal Healthcare’s stock chart is showing sign of weakening, if we compare the previous wave patterns (nice and solid triangle) on the uptrend. Although the uptrend is still intact base on current chart, it is important to see whether ChinaAniH can stay above this uptrend support at about $0.345 (which is also at 78.6% Fibonacci Support). Breaking down this support indicates the end of the uptrend for China Animal Healthcare.

Eratat: On Up Trend

Marubozu — Tue, 04 Jan 2011 15:09:00 +0000

Eratat is current trading on uptrend. However, Eratat may pull back as the stock is hitting the 78.6% Fibonacci Resistance at about $0.239. $0.21 (the uptrend support) is a good entry level for short term trade as long as Eratat stays above this uptrend support line.