Rotary Engineering – Trading in A Rectangle

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Rotary is currently trading within a rectangle. Rectangle’s resistance is $1.18 and rectangle’s support is $0.874.

In the near term, Rotary is going to test 20D MA resistance to see whether this rectangle pattern is still valid. Failing to break this 20D MA resistance and breaking the rectangle’s support will trigger a bearish down (a formation of lower low, lower high pattern) trend for Rotary.

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Yanlord – In Consolidation Mode

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Yanlord looks like getting into a consolidation mode and moving sideway, after the recent breakdown from a Mini Double Tops formation.

Yanlord may be forming a Bearish Rectangle in a Down Trend, with trading range between $1.70 and $1.56. Breaking down from this rectangle pattern will send Yanlord share price to about $1.40 which is 61.8% Fibonacci Retracement Level and also the estimated breakdown target price.

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