From the chart, a mini double bottoms has been formed and Genting may be forming a mini double tops too. The chart looks interesting for me to keep in the short term trade watch list. Feel free to comment if you see other patterns.
Showing posts with label Double Bottom. Show all posts
Showing posts with label Double Bottom. Show all posts
Tuesday, May 11, 2010
Genting Singapore - Trading Within a Range
Genting Singapore looks like trading within a range from $0.86 (50% Fibonacci Retracement Level)to $0.969 (61.8% Fibonacci Retracement Level). It looks like a good pattern to trade if Genting continues to move within this range until the breakout.
From the chart, a mini double bottoms has been formed and Genting may be forming a mini double tops too. The chart looks interesting for me to keep in the short term trade watch list. Feel free to comment if you see other patterns.
From the chart, a mini double bottoms has been formed and Genting may be forming a mini double tops too. The chart looks interesting for me to keep in the short term trade watch list. Feel free to comment if you see other patterns.
Tuesday, November 3, 2009
UNG - Return to the Falling Wedge
UNG failed the breakout from the channel and returned to the falling wedge. $9.00 is a critical support level and if UNG bounces back from this support, a double bottom will be formed. If this support is broken, UNG will continue to go south to its historical low until the next support of $7.072. Formation of either a double bottom pattern or breakout from a falling wedge in a down trend will reverse a trend (i.e. the stock price will move up eventually). As I am planning to invest this ETF for long term, this analysis gives me some idea where I can accumulate more shares at a lower price.
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