161.8% Fibonacci Retracement Level - My Stocks Investing

Broadcom (BRCM) Trade Idea

Post author:Marubozu
Post published:July 29, 2013

Technical Analysis: BRCM Gapped down after a posting 2Q loss on $501M impairment charges. Currently BRCM is just sitting on the critical support level at about $27.00 (Dec 2012 low) and also the 161.8% Fibonacci Retracement Level.

See Earning Announcement of BRCM.

Trading Plan: Wait another a few more days to see whether this support is strong and show sign of reversal pattern.

Trading Strategy: either Short Put Spread or Long Call

STO BRCM Sept 13 30 Put
BTO BRCM Sept 13 26 Put
If break support, BTC BRCM Sept 13 30 Put to repair (1 month before expiry), else close both positions.

or

BTO BRCM Sept 13 28 Call
Close position one month before expiry date to minimize Time Decay.

BRCM Chart

BRCM Fundamental

Singapore Exchange (SGX): Start Down Trend?

Post author:Marubozu
Post published:April 30, 2013

Singapore Exchange breakout from the Rectangle after XD date. The rebound from $7.40 was rejected by the 20D SMA (note: 20D SMA is quite a reliable support & resistance for SGX base on past pattern). The recent support of $7.41 is the critical support to watch. Breaking this support will send SGX to the price target of about $7.175 (the 200D SMA & 161.8% FR).

Past analysis on SGX.

Gold ETF (GLD): Break Support! BEAR is HERE!!

Post author:Marubozu
Post published:April 14, 2013

Gold ETF (GLD) has broken a critical support at about $150 with huge selling volume. Wait for retracement to short GLD! 161.8% FR target is $133.60.

See previous post on how to short Gold.

If you are holding Gold as long term investment, suggest you re-look at your portfolio whether you want to take profit or cut loss.

Disclaimer: I am NOT a certified Financial Analyst. I am only a part time trader and trade base on my own analysis. This is NOT a Sell or Buy recommendation.