Symmetrical Triangle - My Stocks Investing

SPDR GOLD (GLD): Breaking Down From Symmetrical Triangle

Post author:Marubozu
Post published:December 19, 2011

Original Post from My Stocks Investing Journey .

Need to watch whether 200D MA turned support to resistance.

F&N: Trading in a Triangle

Post author:Marubozu
Post published:September 29, 2011

F&N is current trading in a Triangle. Upside capped at the Triangle Resistance and 200D MA resistance between $5.90 and $5.95. Base on current chart, downside risk is higher than upside potential as the 200D is trending down in additional to current poor world economy and debt crisis. Breaking down from this Triangle will send F&N to the price target of about $4.75.

First Resources: Coming Down Soon!

Post author:Marubozu
Post published:September 11, 2011

First Resources returned to test the support turned resistance level of Symmetrical Triangle but failed. A Bearish Engulfing candlestick pattern was formed at the 50D MA resistance at about $1.35. This breakdown of Symmetrical Triangle chart pattern will send First Resources to target price of about $1.08, which is also the 61.8% Fibonacci Support Level. Sit tight for this downward momentum!