Raffles Education – Down Trend started!

  • Post author:

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.

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Capitaland DOUBLE TOPS formation – Down Trend started?

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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!

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