If Fibonacci is correct, time is up for Genting Singapore after reaching 161.8% Fibonacci Retracement Level! Also note that a DOJI candlestick is observed in the last trading session indicates the end of an uptrend and potential reversal. Need to wait for the next candlesticks for confirmation. Sit tight and the roller coster may start! Also note that RSI and Stochastics are in overbought region.
Base on the chart pattern, Hyflux is currently trading within a Down Trend Channel. Hyflux will be facing a strong resistance between $3.20 to $3.25 which is a down trend channel resistance and also the 200D MA resistance. $2.80 which is a 61.8% Fibonacci Retracement support level may be a good entry point for long term investment in view of the company’s core competency in water treatment system and potential huge growth prospect.
Noble group rebounced from the 61.8% Fibonacci Retracement support at $1.542 and looks like breaking out from the Falling Wedge. Noble is currently testing the wedge resistance at about $1.70. If Noble breaks out and stays above this wedge resistance (and also 20D & 50D MA supports), the stock may reach the price target of $2.20.
