Electrocuted MER

MER easily broke 255 support and went to its next stop. Now it is sitting at the next support which is 250. Today's trading is quite bloody but this kind of graph gives me a smile. 

Let's C how deep is you dive

Support is broken! This is one example of cutloss descipline I learned from trading. I bought it at 1.10 and set 1.08 as my cut loss. My sell point is not that much, 1.18 since LC is generally down trend. It reached 1.13 level but immediately gets exhausted and went down. The price reached 1.08 and I have to say good bye. A day in trading that is not really for me.

Was it a good move?

I guess so. Look at the current price.

Bear is winning the game for AC

The battle to break the 450 level is high and it seems that the bears are winning the game. I mentioned in my previous post that the resistance is being tested, it was slightly broken but was not enough to keep the up trend for AC. Now a signal of reversal is seen. Will it be a "U" turn for now for AC or just a simple head and shoulder fake before the bull shows its power?

But on my case, I already sold mine. The signal shown on the graph is enough for me to take a rest and watch for the mean time. A gain is still a again even if tomorrow this stock continues to go up. Caveat!

Touch down for ROCK

For the past three months, ROCK has been gradually going down. My prediction is that it will go down first to its major support, which is 3.0 level, before it makes its upward swing. The triangle is closed and the price is sitting at the right price. Now it's time to see how the traders will react on this technical movement. Will it be the time for the bulls or the bears are still not satisfied pulling down the price? Let's see tomorrow. Caveat!

Exhaustion for EDC

Oooooooops! After 2 days of rally for EDC, doji star candlestick was formed yesterday. Doji star is a doji line which gaps from a long or black candlestick. An important reversal pattern with confirmation during the next session. So watch out for this stock. Caveat!

Descending triangle formation for BDO

Thinking of buying BDO? Not for the mean time for me, as this stock is forming a descending triangle. It may fall down to 83 level then probably go up and form another small loop. Not a very exciting stock for me for at this moment.

Base two for MBT

Just when I'm about to sell my shares for MBT, it made its rally and touched the 2nd base. Later's trading will probably determine on what I'm going to do with this stock. I will not hold it too much, greed is such a killer in trading.

Testing the resistance for AC

As what you can see on the image, AC has finally touched it's resistance level. Quite interesting at this point and in the next few days we will be able to determine whether AC will be able to break the 450 level and form its new resistance or fall back to 417 price. Let us see on later's trading on what will be the behaviour for AC.