ST Engineering Rebound! Is It Time To Buy?

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I have to re-draw the Elliott Wave count for ST Engineering because the recent rebound is still the Wave B. There is also a Mini Elliott Wave in Wave B (1-2-3-4-5) and currently hitting the uptrend support turned resistance level (green line).

For those who know Elliott Wave pattern and know how to count the Wave (1-2-3-4-5-A-B-C), you should be able to identify what is the next move! It is Wave C of the Big One and Wave A for the Small One! The Big and The Small are in the same direction!  Now we just need to wait for the certain candlestick pattern to form! Happy Trading!

See last Elliott Wave count drawn for ST Engineering.

2013July12-ST Engg-800x600

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UOL Group: Bear has Taken Over!

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UOL Group’s uptrend has ended after the stock price break the uptrend resistance. 20D and 50D MA have crossed the 200D MA recently indicate the official start of down trend. Currently UOL rebounds to test 20D MA resistance and also the 78.6% Fibonacci Resistance at about $$4.36. This level is probably the last chance to get out before the stock price moves even lower. BTW, I am aiming to short if UOL fails to break this resistance and turns down.

 

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