GuocoLand: Trading in a Wedge
GuocoLand is trading within a Wedge or symmetrial triangle.
- Wedge Resistance at about $2.25
- Wedge Support at about $2.10 (also 78.6% Fibonacci Retracement Support)
Ezra is Forming A Wedge
Ezra is currently trading in a wedge. A potential Head and Shoulders patter is also in formation with neckline at $1.657 which is also a 61.8% Fibonacci Retracement Level, and also the wedge support. Breaking below this support may send the Ezra stock price to $1.30. $1.85 is a very tough resistance to break as this level is the 200D MA and also the wedge resistance.
In summary, two key levels to monitor in order to predict the next big movement:
- $1.85 (Resistance)
- $1.65 (Support)
Golden Agri: Trading in a Wedge
Golden Agri is currently trading within a wedge pattern with the wedge resistance at about $0.61. Breakout from this wedge will send Golden Agri to $0.73. It looks like there is a good chance of a mini bull run as MACD is entering into bullish convergence, RSI and stochastic are heading north, and stock price is above 20D/50D/200D MA and Parabolic SAR. Only Bollinger Band has not met the bullish criteria yet.
