Swiber - My Stocks Investing

Swiber: Breaking Out!

Post author:Marubozu
Post published:September 26, 2010

Follow up on Swiber last analysis. Swiber looks like breaking out from a Descending Triangle. Currently Swiber retraces back to test the support at the breakout point at about $1.05. This is a very important four-in-one support where 20D, 50D, 200D MA and 78.6% Fibonacci Retracement Level meet at this level.

Things to watch out for:

Look for trend reversal candlesticks when rebound from this support level.
If Swiber reverses and breaks the recent new high of $1.15, the breakout is successful and the price target is about $1.30.

Swiber: Testing the Critical Resistance

Post author:Marubozu
Post published:September 16, 2010

Swiber has been moving above the three moving averages (20D, 50D and 200D MA) recently and is currently testing a critical Resistance at about $1.053 (78.6% Fibonacci Retracement Level). The current chart is not able to confirm the breakout is successful until this resistance is broken with surge in trading volume.

Swiber: Watch out for Breakout

Post author:Marubozu
Post published:August 22, 2010

Swiber is currently trading in a Symmetrical Triangle and looks like going to breakdown. Technical indicators are showing weakness:

Stock Price is trading under 20D, 50D and 200D MA.
MACD is Bearish Convergence.
Stock price is getting close to the lower band of Bollinger Band.
RSI and Stochastic are not bullish at all.
Stock Price is trading under the Parabolic SAR.

Base on current chart pattern and technical indicators, it looks like Swiber has higher chance of breaking down. Price target of breakdown from this Symmetrical Triangle is $0.64.