161.8% Fibonacci Retracement Level - My Stocks Investing

Keppel Land: Trading in either Sideway Consolidation or Down Side

Post author:Marubozu
Post published:September 14, 2013

There are a few chart patterns observed in Keppel Land Chart. Keppel Land is currently trading in a Descending Triangle (Range between $3.62 and $3.27). If $3.27 support is broken, Keppel Land will continue the fall in a Down Trend Channel with price target at about $2.70 (also the 161.8% Fibonacci Retracement Level).

Alternate scenario will be Keppel Land breaks the Triangle resistance at about $3.62 and $3.735 (neckline of Double Bottom), this pattern will confirm the trend reversal to upside.

Critical Level to watch:

$3.27 Support
$3.62 Resistance

Last Analysis on Keppel Land.

Capitaland: Falling Wedge

Post author:Marubozu
Post published:September 3, 2013

Capitaland is currently trading in a Falling Wedge. Resistance at $3.15 and support is at $3.00. Long term price target base on Fibonacci Expansion, Capitaland may reach the 161.8% Fibonacci Retracement Level at about $2.44. Technically the chart is bearish and good for shorting when the rebound is exhausted.

See previous analysis on Capitaland: Elliott Wave.

Gold Start to Rally?

Post author:Marubozu
Post published:August 17, 2013

Gold Start to Rally? Yes. At least for the short term base on technical analysis because Gold has just broken the previous support turned resistance. Looking at the GLD (SPDR Gold Shares ETF), GLD has broken the $130 critical resistance level and also moving above 20D / 50D SMA. Base on the past few months chart pattern, 20D SMA is a reliable support and resistance moving average line. The price target for this GLD rebound is about $139-$140 region base on 161.8% Fibonacci Expansion Level by mid Oct 2013 (using Fibonacci Fan).

Statistically Aug and Sept tends to be bullish months for Gold. See statistical table here.

Gold Short Term Trend: Bullish
Gold Long Term Trend: Bearish (200D SMA is still trending down)