Singapore Stocks - My Stocks Investing

GoldenAgri: Waiting for the Breakout

Post author:Marubozu
Post published:July 3, 2011

GoldenAgri has formed a consolidating Symmetrical Triangle for a few months. The stock will probably be breaking out pretty soon. At this moment, there is no clear direction where GoldenAgri is heading because the stock price is trading close to 20D, 50D, 100D and 200D MA.

Expect very volatile price movement when breaking out as many traders are able to spot this symmetrical triangle chart pattern to short or long the stock.

Breakout (up) price target = $0.825
Breakout (down) price target = $0.50

COSCO: Turning at the Resistance

Post author:Marubozu
Post published:July 3, 2011

Currently COSCO is turning down after hitting $1.96 resistance. Next immediate support is $1.86 which is also the 61.8% Fibonacci support and 20D MA support. The Double Tops chart pattern is still at sight unless COSCO can stay above this neckline for the next few weeks.

City Development: $10.00 The Critical Support

Post author:Marubozu
Post published:July 3, 2011

CityDev is just sitting on the 61.8% Fibonacci Support now. This $10.00 is an important psychological support and also the previous resistance-turned-support level. In addition, this level is also the neckline of the Head and Shoulders (multiple shoulders) if you can spot it. Breaking this critical support will send CityDev to the price target of $6.40. Open the eye big big on this $10.00 level because the big BEAR will come!