If Synear breaks the support at $0.222 (38.2% FR Level), a “Lower High, Lower Low” bearish down trend pattern will be seen on Synear. If Synear is able to hold above this support level, A Descending Triangle chart pattern may be formed and we just need to wait for the breakout to determine future trend. Take note that all three moving averages 20D, 50D and 200D MA are trending down.
Raffles Education continues to move sideway for the past 5 months. Next immediate support is at $0.265, followed by $0.164 (123.6% Fibonacci Retracement Level). Note that RafflesEdu is on long term down trend as 200D MA is slopping down.
Have observed several Elliott Wave Patterns in China HongXing. The attached China HongXing charts have shown two complete Elliott Wave patterns (Wave 1 – 5, Wave A, B, C) previously. Now China HongXing is showing the another potential Elliott Wave pattern showing the Wave 4 in formation. If you believe in Elliott Wave pattern and believe the history may repeat itself, you should be able to predict the next movement by studying how the Wave 5 performed on the previous two occasions.
Past two Wave 5 performance:
So, next performance? From $0.175 to ???? in ?? weeks?
Look at the China HongXing chart and make your prediction!
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