Recent Posts - My Stocks Investing

City Development: Rebound!

Post author:Marubozu
Post published:March 23, 2013

City Development rebound with a Bullish Engulfing (and Three Outside Up) candlestick pattern at the uptrend channel support at about $10.70. This $10.70 is a reliable resistance turned support level. The next significant level is support turned resistance at about $11.38. Current City Development chart represents a good opportunity for a short term bullish trade. This is also a good example that “Chart Pattern + Support / Resistance + Candlestick” is a much better trading strategy compare to the technical indicators like moving averages, MACD, Parabolic SAR, Bollinger Band, etc. These technical indicators still have not shown any bullish signals yet because they are lagging indicators.

Genting SP: Short Term Down Trend

Post author:Marubozu
Post published:March 23, 2013

Genting Singapore is currently on down trend and the upside will probably capped at the down trend resistance or 20D SMA at about $1.50. The chart is showing “Lower High, Lower Low” pattern. Next support is at about $1.415 (61.8% FR) followed by 200D SMA about $1.385.

Capitaland: Big Fund Selling?

Post author:Marubozu
Post published:March 17, 2013

Capitaland broke out from the Triple Tops and reversed to the bearish trend. Capitaland is currently at Elliott Wave A and may be rebound from 61.8% FR (about $3.40) or 200D SMA ($3.30) to form Wave B before continue the down trend.

Another interesting observation to note on the Time & Sales after last Friday closing, there was a huge sell down from $3.52 to $3.40 with 16,091 lots transacted. This represent 47% of the whole day transacted volume. Who was selling “desperately” after trading hour? There were similar selling patterns on Wilmar and SIA also, with close to 50% of the whole day trading volume sell down after the market close. It is up to your imagination who are the BIG SELLERS but this type of selling is definitely not a good sign.

Last Analysis on Capitaland.