Recent Posts - My Stocks Investing

Citigroup (C): Continue Up Trend

Post author:Marubozu
Post published:March 10, 2013

Citygroup (C) broke recent high resistance of $44.80 and continue to uptrend. The immediate profit target is uptrend channel resistance followed by 161.8% FR of $51.51.

Previous analysis on Citigroup and Fundamental data.

Bank of America (BAC): Beware Triple Tops!

Post author:Marubozu
Post published:March 10, 2013

BAC formed a Dark Cloud Cover reversal candlestick pattern at the resistance and have a potential of forming a Triple Tops pattern. I moved my stop loss just below $12.00 psychological support to protect my profit.

Possible Scenarios & Trading Plan:

If BAC can stay above the $12.00 support, I will stick to my trading plan to let BAC to head towards $14.40 (161.8% FR). I will continue to move my stop loss upward to protect the profit.
If BAC breaks $12.00 support, I will be stopped out. The next plan is to wait for BAC to retrace back to the neckline of $11.00 (also the uptrend channel support – marked in green) and see whether this support can be hold. If there is reversal pattern at $11.00, I will long BAC again. If the $11.00 support is broken, there will be a breakout of Triple Tops chart pattern with price target below $10.00. I may consider to short BAC using Put option.

See previous BAC analysis and chart pattern with different time scale here.

Yanlord: Start Down Trend

Post author:Marubozu
Post published:March 8, 2013

Yanlord has broken out from the Head and Shoulders and rebounded to test the neckline at about $1.50. The current rebound has halted after Yanlord showed a Doji candle. If Yanlord cannot go above this neckline resistance and turn down with a bearish candle, Yanlord will continue the down trend. Take note that Yanlord has formed a “Lower High, Lower Low” down trend channel. Immediate support is $1.405 (61.8% FR) followed by $1.32 (200D SMA).

Previous analysis on Yanlord.