Raffles Education – Bottoming Up?

  • Post author:

Looks like Raffles Education is likely to rebound  for the next few days because a Hammer is observed today. Hammer candlestick is a reversal pattern. In addition, the recent sell down pushed Raffles Education close to 100% Fibonacci Retracement Support Level. RSI and Stochastic are at Oversold region but are showing reversal sign of turning up. Immediate supprt at $0.275. Immediate resistance is 20D MA at about $0.33.

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DBS – Double Tops!

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DBS has formed a Double Tops formation and the neckline at $13.70 has broken. If this Double Tops breakdown is successful, the price target is $12.00.

Things to watch out for a successful breakdown in the next few days:

  • DBS is unable to break the 200D and 20D MA, plus the neckline.
  • The neckline will then turn support into resistance.
  • DBS breaks another support at $13.33.

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