Wing Tai: Symmetrical Triangle in Formation
Wing Tai seems like forming a Symmetrical Triangle and trading within a tight range close to 20D, 50D and 200D MA. No clear trend until Wing Tai breaks out from this Symmetrical Triangle chart pattern.
Allgreen: Trading with a Tight Range
Allgreen has been trading within a tight range from $1.00 to $1.20 for the past 5 months. No big price movement is expected until the breakout. Also take note that 200D MA, a long term trend, is trending down. $1.14 is the important level to watch as this level is the 50D and 200D MA support. If Allgreen stays below the 3 Moving Averages, the chart pattern is bearish.
Ezra is Forming A Wedge
Ezra is currently trading in a wedge. A potential Head and Shoulders patter is also in formation with neckline at $1.657 which is also a 61.8% Fibonacci Retracement Level, and also the wedge support. Breaking below this support may send the Ezra stock price to $1.30. $1.85 is a very tough resistance to break as this level is the 200D MA and also the wedge resistance.
In summary, two key levels to monitor in order to predict the next big movement:
- $1.85 (Resistance)
- $1.65 (Support)
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