Symmetrical Triangle - My Stocks Investing

Singapore Exchange (SGX): Up or Down?

Post author:Marubozu
Post published:August 3, 2011

SGX is trading on the down trend but also forming a Symmetrical Triangle.

Immediate Support is between $7.20 to $7.30.
Immediate Resistance is about $7.40 (20D MA and 50D MA) followed by $7.50 which is also the triangle resistance.
200D MA is trending down.
PE is 26.6 (3 years high) at the price of $7.35.

My view on SGX: Downside risk is higher than upside potential (capped at long term down trend resistances – the green line and 200D MA).

Golden Agriculture: Testing the Support

Post author:Marubozu
Post published:July 17, 2011

Golden Agriculture returns to test support at $0.68 after breaking out from the Symmetrical Triangle. If this support is strong enough, GAR will be on the way to meet the breakout price target of $0.825.

Immediate Support = $0.68 (20D, 50D and 100D MA)
Immediate Resistance = $0.70 (200D MA)

See Previous Golden Agriculture post here.

GoldenAgri: Waiting for the Breakout

Post author:Marubozu
Post published:July 3, 2011

GoldenAgri has formed a consolidating Symmetrical Triangle for a few months. The stock will probably be breaking out pretty soon. At this moment, there is no clear direction where GoldenAgri is heading because the stock price is trading close to 20D, 50D, 100D and 200D MA.

Expect very volatile price movement when breaking out as many traders are able to spot this symmetrical triangle chart pattern to short or long the stock.

Breakout (up) price target = $0.825
Breakout (down) price target = $0.50