Recent Posts - My Stocks Investing

Straits Time Index (STI): Keep A Big Eye on The Support!

Post author:Marubozu
Post published:February 20, 2011

Straits Time Index (STI) is just trading above a critical support at about 3,042.

Things to watch:

If this previous resistance level (3,042 which is also the 200D MA support) cannot turned into support, STI will start the down trend and head towards at least the 2914 level (78.6% Fibonacci Support).
Another important level to watch is 3,122 resistance which is also the neckline of the complicated Head and Shoulders pattern. If STI cannot break this resistance and bounces down, the chances of breaking the 200D MA support is extremely high.

One thing for sure base on the chart pattern, Bull is still enjoying the Chinese New Year and not back to work yet!

Can OLAM Hold Above 200D MA?

Post author:Marubozu
Post published:February 16, 2011

Olam has finally broken down from the $3.05 support and currently testing the 200D MA support (which is close to 61.8% FR Level). If Olam is unable to hold above this 200D support, Olam will start a down trend. At the moment, upside potential may be limited as $3.05 is the immediate resistance.

COSCO: Break Up Trend Support

Post author:Marubozu
Post published:February 16, 2011

COSCO Corp seems like have broken the uptrend support and trading about $2.10 (78.6% FR Level). If COSCO cannot rebound from this level and break the $2.20 resistance (Uptrend support turned resistance and 50D MA resistance), COSCO may start the trend reversal and the next support is at 61.8% FR level at about $1.885.