Apple AAPL has been running up like a rocket showing a Parabolic Curve pattern for the past few months. Yesterday AAPL daily chart broke 20D MA and weekly chart showed Three Inside Down bearish reversal candlestick pattern. Is it a crashing time for AAPL and time to take profit and run? If chart pattern always repeats itself, take a look at Dryship (DRYS) which had shown a similar Parabolic Curve previously. You make your own decision.
A Double Tops chart pattern is observed on Yangzijiang daily chart with neckline at about $1.25. Breaking down from this reversal chart pattern will send Yangzijiang to the price target of about $1.11. Currently the stock is just trading around the neckline support. Both weekly and daily charts are bearish base on 2/5 EMA, 20D SMA. MACD shows the bull has lost the steam as well. Another potential stock to short.
Yangzijiang Fundamental.
Starhub has been on the uptrend for a few months and currently approaching historical high resistance at about $3.21. Although the dividend yield of 6.37% (base on stock price of $3.14) looks attractive, the risk of trend reversal is relatively high to worth the gamble. The current Starhub stock price is also violating my rule of “Buy Low Sell High” and “Never Buy near Resistance”. The safer entry point is at about $2.92 and need to see whether this previous resistance can become a support level.
