China HongXing has formed a Head & Shoulders and the stock price has broken below the neckline. However, this stock bounced back from $0.19 support line (50% Fibonacci Level).
$0.20 to $0.205 is a very critical resistance level (neckline and 61.8% Fibonacci Level) to break to have pattern failure for China HongXing to go north. Another important thing to watch is whether the trading volume returns to help to break this strong resistance.
Keppel Corp has formed an Ascending Triangle but it may form a Triple Tops if the stock breakdown from the Ascending Triangle. If the stock can stay within the Ascending Triangle and breakout from the resistance line of $8.42, the stock may go up to $10.30.
However, if Keppel Corp breakdown from the Ascending Triangle at around $8.20 and goes below $7.80, a Triple Tops is formed and send the stock to $7.20.
I have also compiled Analysts’ recommendation in the following table:
DRYS chart looks very bearish as DRYS broke down the Wedge channel support. The stock price is currently below 20D, 50D and 200D MA. Another scary thing is DRYS 200D MA is heading south implies that the DRYS is still on the long term down trend.
