Looks like Allgreen fails to break the resistance at $1.098 (78.6% Fibonacci Retracement Level), which is also the neckline of Triple Tops chart pattern. This confirms the formation of Triple Tops and the price target is about $0.90.
Looks like Allgreen fails to break the resistance at $1.098 (78.6% Fibonacci Retracement Level), which is also the neckline of Triple Tops chart pattern. This confirms the formation of Triple Tops and the price target is about $0.90.
Evening Doji Star was formed on the $1.09 S/R level.
Personal opinion on this Allgreen. Since the breakout from the neckline of the triple top, the minor pull back has no strength with decreasing volume to 78.6% FR. The trend change at 78.6% FR is thus look upon as Continuation Pivotal Point with the next support at 61.8% FR if the trend continues.
RL & Roy,
Thanks for the comments.
I think we have the same view that Allgreen is bearish!
Hi there, I am a Newbie. Got a question about Allgreen if you dont mind. Would you short this counter? Cheers.
I don’t short Singapore stock as it has unlimited risk. Nothing is 100% in stock market because any news will throw the Technical Analysis away.
I only short US stocks by buying PUT option.