Bullish Engulfing - My Stocks Investing

Noble Group: Rebounding Soon?

Post author:Marubozu
Post published:November 23, 2011

Noble group formed a Bullish Engulfing yesterday but unfortunately did not move up today. Bullish Engulfing at the support level is a trend reversal pattern. Noble Group is currently just sitting above the down trend channel support. RSI is at oversold region.

Things to watch out:

If Noble rebounds from this support in the next few days, the stock may move up to close the gap and get near to the resistance level at about $1.30 (downtrend channel resistance and 20D MA)
If Noble breaks this support, Noble may be heading towards $0.924 (123.6% FR) and $0.753 (138.2% FR).

Global Logistic Properties (GLP): Forming Right Shoulder?

Post author:Marubozu
Post published:July 24, 2011

Global Logistic Properties (GLP) may be forming Right Shoulder after the rebounding from the support with a Bullish Engulfing candlestick pattern. The stock is currently testing the resistance between $2.04 (20D MA) and $2.055 (50% Fibonacci Resistance). If GLP reverses from these two resistance, there is high possibility of forming a Head and Shoulder pattern.

GoldenAgri: Rebounding?

Post author:Marubozu
Post published:May 8, 2011

Golden Agri may be rebounding in the coming days after a Doji candlestick was observed after the recent down trend. A Doji candlestick indicates a stop of the trend. Last Friday GoldenAgri formed a Bullish Engulfing candlestick pattern indicates a potential trend reversal.

RSI is at oversold region and start to turn up. MACD is showing some sign of bullishness also.

However, it is very important to observe whether the 200D MA will become the resistance when the rebound takes place. Otherwise it will start a down trend for Golden Agri.