Rising Wedge - My Stocks Investing

UOB Bank: Rising Wedge Pattern

Post author:Marubozu
Post published:April 5, 2012

UOB Bank is forming a Rising Wedge, a Trend Reversal Pattern on the daily chart. The wedge support is at around $18.20 which is also the 20D SMA. Weekly chart show UOB is having difficulty to break the 61.8% Fibonacci Retracement Resistance. Although 2/5W EMA still showing uptrend in weekly chart but potential trend reversal Rising Wedge in the daily chart may alert the short sellers. Watch out for a Bearish Convergence signal to confirm the trend reversal.

XD Date: May 7, 2012

ComfortDelgro: Trading in a Rising Wedge

Post author:Marubozu
Post published:April 29, 2011

ComfortDelgro is current trading in a Rising Wedge. Wedge Resistance at about $1.65 and Wedge Support at $1.52.

No clear trend for ComfortDelgro for the time being as the stock price is trading about the three Moving Averages of 20D, 50D and 200D.

Ezra: Coming Back to Test an Important Support

Post author:Marubozu
Post published:April 14, 2011

Ezra is coming back to test the previous tough resistance at about $1.75. See previous analysis here. This $1.75 level is also close to 20D MA and 200D MA support. In addition, this is also the support for the Rising Wedge. If Ezra can stay above this $1.75 for the next few days, this resistance-become-support level will be a very good base for Ezra to start the up trend. Next Immediate Tough Resistance is $1.85 which is also the Rising Wedge resistance.