Up Trend Channel - My Stocks Investing

Pacific Andes – Testing Up Trend Channel’s Support

Post author:Marubozu
Post published:May 19, 2010

Pacific Andes is currently testing the uptrend channel support at about $0.314. This channel support coincides with a significant 61.8% Fibonacci Retracement Level.

Things to watch out for:

Whether there is any trend reversal candlestick pattern to confirm Pacific Andes bounces off this support level. If yes, the uptrend channel is probably still in tact and the next resistance is $0.358.
If this $0.314 support level is broken, the next immediate support is $0.282 (50% FR Level). This level has been proven as a very tough resistance to break for past 4 occasions. This resistance turned support is a significant support level.

Noble – On A Uptrend Channel

Post author:Marubozu
Post published:December 25, 2009

Noble is still moving up in an uptrend channel. Resistance seens at $3.23. Noble has been on the uptrend since April without a major healthy correction. OCBC Investment Research has a BUY rating for Noble with a fair value price of $3.73 (base on 14.1 PE ratio of FY2010F).

China Fishery – Dropped out from the up trend channel!

Post author:Marubozu
Post published:October 21, 2009

China Fishery dropped out from the uptrend channel and broke the 50D MA support line. If China Fishery stays above $1.263 (61.8% Fibonacci Retracement level) and bounces back from this support, this is considered a healthy correction before continuing the up trend. It looks like a Head & Shoulders is formed too with neckline at around $1.263. If this critical support is broken, it may send the stock down to $1.06 level.