candlesticks

MAP Turning Bullish – Moving Averages Confirm Bull Signal

Thursday, July 9th, 2009

MAP has been channelling down since October 2007. May 2009 saw the stock break up and out of the channel which was the first sign that a change of trend could be happening. The second indication of a possible trend change was the Higher Major Peak. A higher major trough would confirm the bulls have [...]

LLC Makes a Head and Shoulder Pattern

Friday, June 12th, 2009

LLC has been channelling down since February 2008. Now the stock ha broken free from this channel what can we expect? Late March of this year LLC broke out of a 16 month down trend channel to form the right hand shoulder of an Inverted Head and Shoulder pattern (INH&S). The neck line is at [...]

NAB in Consolidation Pattern

Wednesday, May 27th, 2009

  March and early April saw all the banks rally hard with the rest of the market. After this rally there are signs of weakening in many. NAB is one of those stocks. Nab found resistance at $23.50 after the rally. This resistance level has been valid as far back as 1999 and is also [...]

Bullish Candle For XAO

Monday, May 11th, 2009

This week the XAO closed with a bullish candle above the resistance it has been struggling at for the last 4 weeks and has now made a major Higher Peak (HP) indicating the Bulls are trying to take control. Now sitting at the nest resistance level of 3950 a break through here would indicate a [...]

BSL – Down Movement

Wednesday, April 29th, 2009

  BSL is another stock that recently rallied with the strength of the market, but is now showing significant signs of continuing with the overall bearish trend. As the rally tried to break through the 4 month down trend it lost strength and failed to make a higher peak or higher trough above the trend [...]

Bearish Chart Pattern – Double Top

Monday, April 6th, 2009

The end of this week saw the XAO break above the 12 month down trend channel. Does this mean we can expect the XAO to climb higher? Not yet. Though it has broken free of this channel it is still being held down by a strong weekly support. If this resistance is respected once again, [...]

TZN Short Term Trade

Tuesday, March 24th, 2009

TZN is a mining stock that has been hit hard in this bear market, but it’s showing some positive signs, for the small term at least. After coming off a $4.00 high in May 2008, TZN plummeted to a low of $0.31. The stock broke up through a 5 month down tend, came back down, [...]

Short Term Trade – LEI

Monday, March 2nd, 2009

At the beginning of October Last year, and large Head and Shoulder Pattern (H&S) was Identified and confirmed on the weekly chart of LEI. This set the stock up for a longer term view of bearish, with a likely target of $12.00. This week, LEI has hit the top of a downtrend channel and weekly [...]

Support and Resistance

Friday, February 27th, 2009

Support and Resistance lines taken from a weekly chart are considered to be stronger than medium term daily support. This is why taking a small term trade off these support levels give higher probability trades. Here is a case scenario built on ORI. Long Term trend is down. Medium term trend is down. Small term, [...]