Looks like Allgreen fails to break the resistance at $1.098 (78.6% Fibonacci Retracement Level), which is also the neckline of Triple Tops chart pattern. This confirms the formation of Triple Tops and the price target is about $0.90.
Keppel Corp has formed an Ascending Triangle but it may form a Triple Tops if the stock breakdown from the Ascending Triangle. If the stock can stay within the Ascending Triangle and breakout from the resistance line of $8.42, the stock may go up to $10.30.
However, if Keppel Corp breakdown from the Ascending Triangle at around $8.20 and goes below $7.80, a Triple Tops is formed and send the stock to $7.20.
I have also compiled Analysts’ recommendation in the following table:
Jaya Holding closed with a long white candle at $0.485 with 21.6 Million shares traded today. Jaya Holding is also top 30 gainers (%) and top 30 most active stocks today. This big one day gain had happened for the 3rd time within three months. The bull failed in the past two attempts to drive the stock price higher. Can the bull win this round and break the $0.51 resistance? Or, the bear will win this round again to form a triple top? Technical Indicators show bullish strength but past two incidents told me that the bull is unable to sustain its run due to lack of volume.
Mr. Bull, do you need a Red Bull so that you can berJaya (successful in Malay)?
