Recent Posts - My Stocks Investing

STI – Bearish Outlook

So far STI’s chart has a bearish outlook.

STI is currently trading in Elliott Wave B and hitting 50D MA resistance. Expect STI to pull back to end Elliott Wave B. If STI breaks the 200D MA support, Elliott Wave C will start.
STI is in the process of forming a Head and Shoulders with neckline at 2,660. Breaking below this neckline will send STI to 2,287.

Ezion is currently trading in a Down Trend Channel. The stock is forming a “Lower High, Lower Low” chart pattern.

Downside risk is higher because Ezion will be facing a few resistances between $0.67 to $0.75:

If the Down Trend Channel pattern is still valid, Ezion will probably go below $0.573 in the next few months.

Current GoldenAgri chart suggests that a deeper correction may take place if the 200D MA support is broken.

A few bearish indicators shown in the chart:

Price Volume Divergence. Although the stock price is rising but the volume is dropping, indicates the uptrend is not sustainable.
Golden Agri is facing 50D MA resistance after the recent run up in the stock price. This 50D MA resistance is also a 78.6% Fibonacci Retracement Level. RSI & Stochastic are turning down to support a probable bounce down scenario.
Golden Agri up trend support has been broken.

If the 200D MA support is broken, the next important support is at $0.458 (61.8% Fibonacci Retracement Level).