Marubozu - My Stocks Investing

Singapore Press Holding (SPH) – Breaks the Trend Support

Post author:Marubozu
Post published:May 9, 2010

SPH broke all 3 key supports (20D MA, 50D MA and up trend support) in last trading week. The stock price is approacing $3.736 which is 78.6% Fibonacci Retracement Support Level. There may be a small rebound in the coming week from this support level. However, if SPH cannot go above $3.90 (the uptrend support and 50D MA), the next important support to watch is 200D MA at about $3.70. SPH may go as low as $3.395 if this 200D MA support is broken.

China Animal Health – Nice Waves on an Up Trend

Post author:Marubozu
Post published:May 7, 2010

China Animal Health seems like trading in Nice Waves on an Up Trend. The wave pattern and support / resistance fit nicely on Fibonacci Fan and Fibonacci Retracement Levels. The Uptrend support (green line) fits exactly to Fibonacci Fan (purple lines) at 38.2% line. Whenever the waves hit this 38.2% lines of Fibonacci Fan (green shaded areas), the stock bounces off and form a new high.

Base on the pattern, it is predicted that China Animal Health may test the 38.2% lines at about $0.27. If the stock price bounces of this $0.27 support level, it will test the previous high of $0.36 and may possibly continues the “Waves Pattern in the Fibonacci Fans” if this $0.36 resistance is broken.

It looks attractive to me to enter at $0.27 with a potential upside 33% to reach $0.36 or even higher. However, it is important to wait for the candlestick pattern to reverse before entering the trade.

Rotary Engineering – Bullish Engulfing Pattern!

Post author:Marubozu
Post published:May 7, 2010

Rotary Engineering is showing a Bullish Engulfing candlestick pattern today. This is a trend reversal pattern after a down trend.

Next Immediate Support is at about $1.00.
Next Immediate Resistance is at $1.06 which is 50D MA, 200D MA and 78.6% Fibonacci Retracement Level.
In order for Rotary to start an uptrend, the stock price need to stay above $1.10 which is above all three MA first, and subsequently clear $1.18. Otherwise Rotary may be moving sideway between $1.00 and $1.18.