HL Asia on Down Trend!

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HL Asia has a Double Bottoms chart pattern failure. The stock was unable to break the neckline resistance and the stock price headed south since then. Currently HL Asia is trading below the 3 Moving Averages. Also take note that 200D MA (a long term trend) is sloping down which is a bearish sign.

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IndoAgri: Has the Knife hit the Floor?

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Follow up on last IndoAgri stock analysis and IndoAgri seems that finding a support at this $1.665 level.

Things to watch out to confirm whether IndoAgri has found the bottom:

  • Whether IndoAgri can stay above this $1.665 support in the coming few weeks.
  • Whether IndoAgri can break above the 20D MA resistance at about $1.80. $1.80 was the previous tough resistance during August to Dec 2009.

Current level is still not a right level to long the stock yet.

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COSCO: Can this Neckline Support Hold?

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COSCO has failed to break the 200D MA resistance and bounced down to test the neckline of the Double Tops chart pattern now. COSCO may rebound from this neckline support to test 20D MA resistance.

Things to watch:

  • Whether COSCO can break above this 20D MA resistance.
  • Whether COSCO can break this neckline which is also the significant 61.8% Fibonacci Support.

Breaking the neckline confirms the Double Tops Formation and the break down price target is $1.32.

Also see previous analysis on COSCO here.

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