Breakout |

Olam: Breakout from a Strong Resistance!

Post author:Marubozu
Post published:September 14, 2010

Olam breaks a critical resistance at $2.82 yesterday. The next resistance is $3.05 (extended resistance line back in Mar-May, 2008) followed by $3.224 (123.6% Fibonacci Retracement Level). A safer entry point to consider is when Olam retraces back to$2.82 to test this is a good support to confirm the breakout is successful.

General Electric (GE) – Down Trend Confirmed!

Post author:Marubozu
Post published:June 27, 2010

General Electric (GE) down trend has been confirmed after failing to break 200D MA Resistance for the 2nd time! The stock is on track to the price target of $13 after breaking out from the wedge pattern. Follow up from previous post.

General Electric (GE) – Having Difficulty to Break 200D MA Resistance?

Post author:Marubozu
Post published:June 2, 2010

GE seems that has failed to break the 200D MA resistance. This 200D MA resistance is also a 23.6% Fibonacci Retracement Level. The chart pattern also suggested GE has broken down from a wedge pattern with a target price of $13. This is a good candidate to short by buying PUT option.