Head and Shoulders - My Stocks Investing

China Fishery – Dropped out from the up trend channel!

Post author:Marubozu
Post published:October 21, 2009

China Fishery dropped out from the uptrend channel and broke the 50D MA support line. If China Fishery stays above $1.263 (61.8% Fibonacci Retracement level) and bounces back from this support, this is considered a healthy correction before continuing the up trend. It looks like a Head & Shoulders is formed too with neckline at around $1.263. If this critical support is broken, it may send the stock down to $1.06 level.

OCBC Bank – Forming of Head and Shoulders?

Post author:Marubozu
Post published:October 16, 2009

OCBC Bank appeared to be forming a Head and Shoulders. If the stock price breaks below $7.50 neckline, it could potentially send the stock price down to between $6.80 and $7.10 level.

Epure – it is time to take a breather!

Post author:Marubozu
Post published:October 15, 2009

Epure International closed with a black marubozu candle today at $0.61. It has also formed a Head and Shoulders and will probably retrace back to test the 20D and 50D MA support lines again. If it breaks these MA support lines and move south, the trend reversal is confirmed. The chart and candlesticks pattern look bearish. However, a retracement back to $0.46 (61.8% Fibonacci Retracement level) is good for a healthy long term up trend.