Bearish Convergence - My Stocks Investing

Raffles Education – Down Trend started!

Post author:Marubozu
Post published:October 2, 2009

Raffles Education closed at $0.49 with another bearish candle today. It looks like the down trend is starting soon. All other technical indicators showed weaknesses:

Stock price below 20D, 50D and 200D MA.
Stock price below the Parabolic SAR line.
Stock price at lower Bollinger Band.
MACD is becoming bearish convergence.
RSI is moving down.
Stochastic is bearish and at oversold region.

Immediate support at $0.485 and next support is $0.45.
I am staying out this stock until I see a trend reversal.

Capitaland DOUBLE TOPS formation – Down Trend started?

Post author:Marubozu
Post published:August 18, 2009

A double tops had been formed on Capitaland indicating the trend reversal. In addition, all Standard Six Indicators are showing bearish convergence. Capitaland closed at $3.63 today with hanging man candle. Stock price broke the 20D & 50D MA support and at the lower end of Bollinger Band. MACD is very close entering bearish convergance at lower half, RSI & Stochastic are showing bearish convergence as well. All technical indicators showed that down trend is going to start. I am sitting back, relax and wait for the big correction before I long this stock. I hope I am right!