Straits Asia: Breaking Out?

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Straits Asia broke the 20D MA, 50D MA and 61.8% Fibonacci Retracement resistance in the last trading day. The stock also looks like breaking out from a falling wedge.  If this breakout is successful, the price target is $2.60. The next immediate resistance is about $2.10 which is the 200D MA resistance. $2.00 should be a strong support. All other technical indicators like MACD, Stochastic, RSI, Parabolic SAR, Bollinger Band show the bullish strength. This level looks like a good entry level.

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Ying Li: Trading in a Falling Wedge

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Ying Li is currently trading in a Falling Wedge. The stock is currently testing 20D and 50D MA resistance, and also 23.6% Fibonacci Retracement Level at $0.438. Breaking these resistance level gives a chance to Ying Li to break the falling wedge resistance at about $0.46. Price target for successful breakout is $0.85. Keep a close eye on the breakout.

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DMX Tech: Forming A Falling Wedge

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DMX Tech is forming a Falling Wedge and currently testing the 20D & 50MA support.  Current chart pattern looks bearish:

  1. The stock has broken the 61.8% Fibonacci Retracement support at $0.35.
  2. Lower Low, Lower High chart pattern is formed.
  3. 200D MA line start to turn the direction towards south.
  4. 50D MA line is on the down trend.

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