Yanlord, Olam & Wilmar
I am vested for all three counters review below. All of them are stocks above 200 days moving average:
Yanlord:
Entered on Thursday (Friday was "Good Friday" holiday) based on the criteria of 3~5 bars drop candlestick set-up. Entry level was at 1.26 ( Wednesday intra-day high ). Notice that technical trading does not always try to find the lowest entry but enter when prices bounce back based on set-up.
Entered on Thursday (Friday was "Good Friday" holiday) based on the criteria of 3~5 bars drop candlestick set-up. Entry level was at 1.26 ( Wednesday intra-day high ). Notice that technical trading does not always try to find the lowest entry but enter when prices bounce back based on set-up.
Olam:
Possible Ascending triangle breakout & completion of throwback:
Wilmar:
So far, most of the charts I have shared here are close-up shots. Here is a zoom-out view giving a bigger picture of what may happen for this stock. Watch for breakout at $3.41 ( approximately ):
So far, most of the charts I have shared here are close-up shots. Here is a zoom-out view giving a bigger picture of what may happen for this stock. Watch for breakout at $3.41 ( approximately ):
[Technical knowledge] Triangles are usually intermediate term ( 1 ~ 3 months ) continuation chart patterns but sometimes can act as reversal pattern especially near market bottom or top. Volume should diminish* as the price swings narrow within the triangle. Chart patterns at market bottom takes longer time to form and prices are less volatile. Chart patterns at market top take shorter time to form & prices are more volatile.
*except for broadening triangle which will be opposite
*except for broadening triangle which will be opposite
Labels: Stock Pick
posted by Market Wizards @ April 11, 2009
Comments: 0
