Singapore Stocks - My Stocks Investing

Best World – Beware of Reversal

Post author:Marubozu
Post published:July 15, 2010

Best World’s chart is redrawn after issuing Bonus 1 for 5 Shares on July. There is a dilution effect and thus previous price history were adjusted down. Best World is still trading in a Wedge pattern but today trade see a Doji candlestick, indicates a stop of the recent up trend. Coincidently, this Doji candlestick appears at the resistance of the Wedge pattern. In addition, Stochastic and RSI are in Over Bought region. Base on this observation, there is a tendancy that Best World will reverse the trend and head south in the next few trading sessions.

Macquarie International Infrastructure Fund – Up Trend Still Intact

Post author:Marubozu
Post published:July 15, 2010

This MacgIntIngfra currently trading below its NAV at $0.7943 and the chart shows the uptrend is still intact. Good entry point at about $0.494 when the stock price pull back to 78.6% Fibonacci Retracement Level or the uptrend support.

Ezra: Going to Start an Up Trend?

Post author:Marubozu
Post published:July 11, 2010

Ezra seems like have completed a nice and complete Elliott Wave pattern (1,2,3,4,5, A, B, C). Currently Ezra has formed a higher low and testing the 61.8% Fibonacci Retracement resistance at $1.805. Breaking above this resistance will give Ezra to test 20D and 50D MA resistance at about $1.84. Going above these resistances give Ezra a very good outlook in forming a “Higher Higher, Higher Low” uptrend pattern. Next immediate resistance is 200D MA at about $2.10. Welcome for any comment if you have different views.