Goodpack:Forming a Wedge

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Goodpack’s chart show a Rising Wedge formation and maybe an Ascending Triangle formation. At the current chart pattern, Goodpack may be coming down to test the wedge support at about at $1.50 to $1.55 level, somewhere near 78.6% FR level. Punching below the 20D MA support is the 1st signal. Next immeidate support is 50D MA.

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Sinomem: Forming a Falling Wedge

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Sinomem is forming a Falling Wedge and has a risk of breaking down after falling to break the 50D MA resistance (area shaded in green). Critical support at $0.472 which is the wedge support and also 61.8% Fibonacci Retracement Level.

  • Breaking this support will send Sinomem down to $0.223 (also 23.6% Fibonacci Retracement Level).
  • Upside kept at about $0.581, which is the falling wedge’s resistance and also 78.6% FR level.

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