Tag: head and shouldersSort
8 Technical Analysis Tools That Give Any Trader an Edge
You may have seen a TV ad where "traders" describe their strategies, and one says, "I trade on fundamentals." That sounds very reassuring -- except that, on any given day, "fundamentals" are a mixed bag:
You might have a good U.S. employment report...but bad news from Europe
A positive Fed statement...but a negative housing number
Strong earnings...but slowing consumer spending
The S&P 500 & the Dollar Ahead of the Fed Statement
Oriental Peninsula Resources’ (ORE) Scary Technicals
Bear Alert on Southeast Asia Cement Holdings (CMT)
Nickel Asia Corporation had its initial public offering (IPO) in the Philippine Stock Exchange last November 22 with “NIKL” as its stock code. The stocks had an IPO value of PHP15.00 then went all the way up to PHP23.00 within 3 months. From there on, it started reversing its course and consolidated to what could be a 2-month head and shoulders pattern.
Unappetizing Outlook For Jollibee Foods Corporation (JFC)
Bearish Pattern Seen In Leisure & Resorts World Corporation (LR)
Leisure & Resorts World Corporation or LR in the Philippine Stock Exchange has octupled its value from PHP 1.10 to PHP 8.80 in a year’s span which is an incredible 800%!!! This is an amazing feat especially for those who were able to buy the stocks at the lower levels. The company is involved in the realty business and developing and licensing gaming hardware and software programs for casinos.
After hitting a low of 81.08 last February 4, the USDJPY pair has rallied back to mark a high of 83.97 2 days after Valentine’s day. It appears, however, that US dollar’s push against the Japanese yen is starting to lose some momentum. As you can see from its 4-hour chart above, the pair has formed what looks to be a head and shoulders pattern with a neckline at around 83.10.