Head and Shoulders - My Stocks Investing

Ezra is Forming A Wedge

Post author:Marubozu
Post published:October 29, 2010

Ezra is currently trading in a wedge. A potential Head and Shoulders patter is also in formation with neckline at $1.657 which is also a 61.8% Fibonacci Retracement Level, and also the wedge support. Breaking below this support may send the Ezra stock price to $1.30. $1.85 is a very tough resistance to break as this level is the 200D MA and also the wedge resistance.

In summary, two key levels to monitor in order to predict the next big movement:

$1.85 (Resistance)
$1.65 (Support)

HL Asia: Forming a Head and Shoulders

Post author:Marubozu
Post published:September 26, 2010

HL Asia is forming a Head and Shoulders with neckline at $3.238 which is also 61.8% Fibonacci support. HL Asia is currently trading below 20D, 50D and 200D MA and this is a bearish sign. Breaking below the neckline will send the stock down to $2.70.

United Overseas Bank (UOB): Head and Shoulders on Sight!

Post author:Marubozu
Post published:September 21, 2010

UOB has formed a Head and Shoulders pattern which is a trend reversal pattern, and currently trading just above the neckline of $18.10. UOB share price is trading below the 20D, 50D and 200D MA as well. Breaking below this neckline will confirm the breakout and send UOB share price to $15.30. The chart looks bearish and downside risk is higher than upside potential. It is better to be safe instead of going long.