Double Bottoms - My Stocks Investing

Hong Leong Asia (HL Asia): Breakout from Double Bottoms?

Post author:Marubozu
Post published:April 7, 2011

Hong Leong Asia or HL Asia just broke the neckline resistance of a Double Bottoms chart pattern after breaking the down trend channel (gray lines) resistance. The price target of the successful Double Bottoms Breakout is $3.16. This target is also the 200D MA resistance. Currently HL Asia may experience a pull back to the 20D/50D MA support at about $2.73. If this support is reliable, this is a good entry level to long this stock.

Noble Group: Forming Double Bottoms

Post author:Marubozu
Post published:March 31, 2011

Noble Group formed a Double Bottoms and currently testing the 50D MA resistance. If this resistance is cleared, Noble will be testing the neckline at about $2.20. If this neckline is broken, the price target for this breakout is $2.37.

Dapai: Double Bottom and Up?

Post author:Marubozu
Post published:September 22, 2010

Dapai has formed a Double Bottom and currently just trading above 20D, 50D and 200D MA, plus has moved above the 61.8% Fibonacci support level. What Dapai needs now is just a little push in volume to make this double bottom breakout successful with a price target of $0.27.