Allgreen – Triple Tops!

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.

This Post Has 5 Comments

  1. RL

    Evening Doji Star was formed on the $1.09 S/R level.

  2. Roy

    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.

  3. Marubozu

    RL & Roy,
    Thanks for the comments.
    I think we have the same view that Allgreen is bearish!

  4. AJT

    Hi there, I am a Newbie. Got a question about Allgreen if you dont mind. Would you short this counter? Cheers.

  5. Marubozu

    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.

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