Singapore Stocks - My Stocks Investing

Courage Marine: Finding a Good Support

Post author:Marubozu
Post published:June 30, 2010

Courage Marine looks like finding a good support at between $0.18 to $0.185. This is the 50% Fibonacci Retracement Level and this has been proven very reliable for the past one year after tested 5 times. The company also started to turn around to make profit last quarter but the share price does not move much. The company has stong balance sheet with Current Ratio at about 10 and generating positive cash flow from its operation. Technically this level (between $0.18 to $0.185) is a safe entry level but not for short term trade.

Dapai – Break or Bounce?

Post author:Marubozu
Post published:June 27, 2010

Dapai previously know as China Zaino. The stock price is currently testing 50D and 200D MA resistance at about $0.24 to $0.245. This level is also an important 61.8% Fibonacci Retracement Level. Also take note that 20D MA has started to reverve to head up. If this resistance is broken, there is a good chance Dapai will start to get bullish. However, we have to watch for a healthy volume for a this breaking of resistance.

Sound Global – At a Very Critical Support Now

Post author:Marubozu
Post published:June 27, 2010

Sound Global seems to have ended an Elliott Wave B and start a Wave C. (Refer to previous post on the Elliott Wave pattern on Sound Global). This turning of direction also potentially forming a right shoulder of a Head and Shoulders pattern.

Things to look out for:

Currently Sound Global is just sitting on a critical support at about $0.846. This is a support level of 20D MA, 50D MA and 78.6% Fibonacci Retracement Level. Breaking below this level will send Sound Global to test the up trend channel support (green line).
If the uptrend channel support (projected at about $0.80) is broken, the next support is the neckline of the head and shoulders at about $0.77.
If this neckline is broken, the price target of this head and shoulders pattern is $0.51.