The Stock Library
Redtone.. formed a shooting ..
Edwin Toh
Publish date: Fri, 09 Nov 2012, 09:02 PM
Edwin Toh
0 184
Talk about everything all under one roof which help us profit big money!! This blog have Technical Analyze Chart on Selected Stock and Forum for Daily Buy and Sell Call.
Disclaimer
All observation, buy call and sell call based on my own personal view are just for informational purpose and for my personal references to remind my self what i have analyze before and now for self improvement. Buy at your own risk and do not follow my view as i am only a novice analyzer with 60% success only..
Disclaimer
All observation, buy call and sell call based on my own personal view are just for informational purpose and for my personal references to remind my self what i have analyze before and now for self improvement. Buy at your own risk and do not follow my view as i am only a novice analyzer with 60% success only..
Today have a big volume and manage to break those big road blocks are 0.395 in the morning and touch the 0.41 resistance.. Without enough firepower, it retraces back to 0.4 . It almost broke the ascending triangle . The bad news this counter formed a shooting star on the resistance line..
Indicators
1) Trendline - Broke above the Uptrendline (Bullish)
2) Support/Resistance - Formed higher low (Bullish)3) MACD - Bullish Crossover (Bullish)
4) RSI - Broke above 50% (Bullish)
5) STO - Bullish Crossover and broke above 50%(Bullish).
6) Ichimoku - a) Above support cloud (Bullish).
b) Conversion line above the base line (Bullish).
c) Price above the baseline ( Bullish)
7) Candlestick - Formed Shooting Star.. ( Bearish) If accompany with a black candle it will confirm the temporary bearish mode.
8) Pattern - Ascending triangle.. If break above from 0.41 , the TP for this pattern is 0.5 (20%)
Conclusion:
Conclusion:
Bullish -
The is a few scenarios for this pattern.
1) Break above 0.41 on the next following day
2) Retrace to 0.38 and then incline back to test the 0.41
3) Break below 0.38 and negate the ascending triangle pattern
E ( Entry) :0.395 ( Closed at or above it)
S ( Stop Loss) : 0.375
P ( Profit) :0.425
RRR (Risk to Reward Ratio) = 1.5 (Average)
E ( Entry) :0.395 ( Closed at or above it)
S ( Stop Loss) : 0.375
P ( Profit) :0.435
RRR (Risk to Reward Ratio) = 2 (Average)
Resistance 0.41 / 0.435 / 0.45 / 0.46 / 0.5 ( Ascending Triangle TP)
Support 0.38 / 0.372 / 0.36
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Discussions
Be the first to like this. Showing 7 of 7 comments
There was some discrepancies on the closing price In chart nexus. If that the case there is no panic but all delight breaking the 0.41 resistance :)
2012-11-10 17:26
breakout at 0.41 to hit 0.45 and a trap. retrac be to 0.38 by Dec 14. Next wave up to 0.52 by Dec27. Final play next Jan-Mid to hit final peak of 0.60. Multi-months declines to 0.12,,,,thats how the key executives there make their pocket monies off us miserable lowlives
2012-11-12 12:01
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Ride The Bull Short The Bear
CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Balla Dk
hi this counter actually closed at 0.405 and it does not look like a shooting star.
2012-11-10 17:01