Up Trend Support - My Stocks Investing

Yangzijiang: Bull is Missing!

Post author:Marubozu
Post published:February 21, 2011

Yangzijiang current chart shows that Bull is Missing for this China ship building stock. The following bearish signs are observed:

Yangzijiang has formed a Multiple Tops.
Yangzijiang has broken the short term up trend support (red line). This up trend support has since tured to resistance.
Yangzijiang is unable to break the 20D MA resistance.
A “Lower Low, Lower High” chart pattern is observed in Jan 2011 to Feb 2011.

Next immediate support is $1.86 followed by the long term uptrend support (green line) which close to the 200D MA and 78.6% Fibonacci Retracement Level.

COSCO: Break Up Trend Support

Post author:Marubozu
Post published:February 16, 2011

COSCO Corp seems like have broken the uptrend support and trading about $2.10 (78.6% FR Level). If COSCO cannot rebound from this level and break the $2.20 resistance (Uptrend support turned resistance and 50D MA resistance), COSCO may start the trend reversal and the next support is at 61.8% FR level at about $1.885.

NOL: Breaking the Up Trend Support?

Post author:Marubozu
Post published:February 16, 2011

NOL looks like going to end the up trend if this Up Trend Support is broken. A very important level to watch is $2.10 which is the up trend support, 78.6% Fibonacci Retracement Support and also the 200D MA support. Breaking below this support level may reverse NOL stock price to have a bigger correction.