Marubozu - My Stocks Investing

Sinotel – Testing Support of a Falling Wedge

Post author:Marubozu
Post published:May 6, 2010

Sinotel has been on down trend recently after breaking 20D, 50D and 200D MA support. The stock appears to be forming a Falling Wedge and Sinotel is currently testing the support at about $0.395 (Falling wedge support at 50% Fibonacci Retracement Level). If this support is broken, Sinotel may go down to $0.317.

Yangzijiang – Bounces off from the support and reverse the trend

Post author:Marubozu
Post published:May 6, 2010

Yangzijiang has bounces back from the support of $1.26 and looks like reverse the trend to up trend.

$1.26 is the combination of three suppports (Double Top Resistance turned Support, Up Trend Support and 50D MA support). Next immediate resistance is $1.472.

Yangzijiang – Moving Sideway?

Post author:Marubozu
Post published:December 29, 2009

Found an interesting chart pattern on Yangzijiang. Yangzijing took a breather to move sideway after every upside with reduction in trading volume.
The 1st consolidation (Jun to mid July) lasted for 1.5 months.
The 2nd consolidation (Aug to mid Nov) lasted for 3.5 months.
The 3rd consolidation (Dec to ??) – how long with it last?

Things to watch out:

$1.118 is the key support (61.8% Retracement Level for short term – red, 50D MA and the uptrend support – green line). If this support is broken, the trend will be reversed and Yangzijiang may go down to $0.906 (long term 61.8% Fibonacci Retracement Level – black) for healthy correction. Yangzijiang is still on a long term uptrend as 200D MA line is still moving up.