Marubozu - My Stocks Investing

City Development: RUN! It is better to Play SAFE!

Post author:Marubozu
Post published:September 11, 2011

The trading range is getting narrower for CityDev. A Descending Triangle is formed on CityDev and very close to the breakout. The previous post on the analysis on watching this $10.00 critical support is still valid. Short term price target of breaking down of this Descending Triangle is $8.50. 200D MA is trending down which is also a bearish sign. Base on the chart pattern, I don’t know how long the SUPERMAN can hold on this $10.00 support. So, it is better to play safe and RUN! Anyway, I am already in Short Position! 😉

CSE Global: Failed to Break Resistance

Post author:Marubozu
Post published:September 11, 2011

CSE Global has failed to break the 20D MA and 61.8% Fibonacci Resistance at about $0.98. This turning down also shows the start of corrective Elliott Wave C. Next immediate support is $0.84 (50% FR) followed by $0.70 (38.2% FR).

First Resources: Coming Down Soon!

Post author:Marubozu
Post published:September 11, 2011

First Resources returned to test the support turned resistance level of Symmetrical Triangle but failed. A Bearish Engulfing candlestick pattern was formed at the 50D MA resistance at about $1.35. This breakdown of Symmetrical Triangle chart pattern will send First Resources to target price of about $1.08, which is also the 61.8% Fibonacci Support Level. Sit tight for this downward momentum!