Recent Posts - My Stocks Investing

Yangzijiang – Critical Support Broken!

Post author:Marubozu
Post published:May 22, 2010

Yanzijiang has broken a key support level at $1.26 to $1.28. This support is a combination of the up trend support, previous double tops resistance and 50D MA. If Yangzijiang cannot get back and moves above the uptrend support level in the next few days, that indicates the end of the up trend. Next strong support is at $1.14 which is the previous neckline of the double tops and 200D MA. Short term down side risk is about 10% base on the current market sentiment.

Noble Group – Double Tops!

Post author:Marubozu
Post published:May 22, 2010

Noble Group has formed a Double Tops and the neckline has broken. The price target of this double top formation is $1.27 which is also a 50% Fibonacci Retracement Level. The breakdown of the neckline is also confirmed by increase in the selling trading volume.

Pacific Andes – Testing Up Trend Channel’s Support

Post author:Marubozu
Post published:May 19, 2010

Pacific Andes is currently testing the uptrend channel support at about $0.314. This channel support coincides with a significant 61.8% Fibonacci Retracement Level.

Things to watch out for:

Whether there is any trend reversal candlestick pattern to confirm Pacific Andes bounces off this support level. If yes, the uptrend channel is probably still in tact and the next resistance is $0.358.
If this $0.314 support level is broken, the next immediate support is $0.282 (50% FR Level). This level has been proven as a very tough resistance to break for past 4 occasions. This resistance turned support is a significant support level.