O39 trend line which began in Nov 2018 has broken today. Thus, technically, the upward trend has ended. We are expecting bearish bias on the bank. 1st price target at S$12.00
- Down trending stock - At Re-Distribution zone - Flat smart money flow - Change in Demand Supply
Technical Mapping of DJIA movement. Nothing to do with Wyckoff, just my technical observations on DJIA recent price movement. One useful application of the map is we notice technical trend change whenever, DJIA hits the horizontal (time) fibo lines such as 0.25 and 0.382. The next one will be 0.50. Let's observe.
HKEX:700 (Weekly Chart) traded below its 8 month old upward trend line with heavy volume sell off seen during the week of March 19th-23rd. Last week of March, stock price made failed attempt to trade back above the trend line. This became evident that the trend line has turned from support to resistance. Weekly MACD is also trading in bearish momentum. Applying...
After a short term rebound US$170 level. Stock price will likely to pull back towards US$182-180 level (50% of previous rally and 55 Days MA as support), with rally stalled and Bearish Shooting Star pattern sighted.