161.8% Fibonacci Retracement Level - My Stocks Investing

Capitaland: Ready to go up?

Post author:Marubozu
Post published:June 29, 2012

A nice chart on Capitaland for a potential bullish short trade.

Capitaland has retraced back to 61.8% Fibonacci Retracement Level after reaching the high at $2.75 recently. As long as Capitaland stays above this 61.8%% FR at about $2.63, the price target for the short trade is $2.95 which is the 161.8% FR level. 2/5 EMA on both daily and weekly charts show bullish signal and 20D SMA is trending up. 200D SMA is at $2.67.

However, watch out for the Bearish Engulfing candlestick at the 200D SMA resistance. This candlestick pattern may spoil the fun!

JES International: Reached Target?

Post author:Marubozu
Post published:September 26, 2010

JES International Holding has a huge gap up few days ago and has reached 161.8% Fibonacci Resistance at about $0.364. JES will probably consolidate for a while before deciding the next movement.

Genting Singapore: Time is up!

Post author:Marubozu
Post published:September 12, 2010

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.