Capitaland: Breakout from Bullish Pennant chart pattern

Weekly chart shows that Capitaland has made a convincing broke out from the multi-month down trend channel.



GMMA in the daily chart shows confirmation of the breakout from the down trend channel.

After the breakout, price of Capitaland rose sharply with an increase in volume, forming the flag pole.
Daily volume during the formation of the flap pole was greater than the average volume.
During the formation of the pennant, volume dried up and was lower than the average volume.
The last candlestick made a Rising Window and formed a Bullish Kicking pattern on heavy volume to breakout from the bullish pennant chart pattern.


Outcome:

LONG trade was not opened because was not able to buy at desired price.

Olam: Matching Low bullish candlestick reversal pattern

Weekly chart shows the breakout from the down trend and now Olam has retraced to test the previous resistance turned support.
Weekly Impulse allows to go long in the daily time-frame.



Matching Low bullish candlestick reversal pattern formed below 10d EMA and stochastic oscillator %D below 20.
Candle pattern filtering satisfied.
The second candle shows a re-rest of the low, but with much lower volume, indicating less selling pressure.
Confirmation is recommended before going long.



Daily Impulse does not allow to go long.
Should wait for 13d EMA or MACD-Histogram to tick up first before going long.



Price and Lagging Line are above the cloud. (bullish indication)
Conversion Line is above the Base Line. (bullish indication)
However, GMMA is showing sign of danger of trend collapse.
Thus emphasising to wait for confirmation and for daily Impulse to allow to go long.


Outcome:

The Matching Low bullish candlestick pattern was not confirmed.

FnN: Bullish Kicking candlestick reversal pattern

Weekly Impulse allows to go long in the daily time-frame.
Doji formed, with support at $6.31, which is at the 61.8% Fibonacci level.



Bullish Kicking candlestick reversal pattern formed just above the cloud.
Bullish Kicking candlestick reversal pattern formed at 61.8% Fibonacci level.
GMMA confirms the uptrend channel.



Daily Impulse allows to go long.



Bullish Kicking reversal pattern formed below 10d EMA and oversold stochastic oscillator satisfies the candle pattern filtering.


Outcome:

20 Feb: Opened LONG at $6.45
12 Mar: Closed at $6.66
Reason for closing: Stochastic oscillator is overbought, the MACD-Histogram is not rising, and there is no evidence of enthusiastic buying.
Profit $0.21, 3.3%

Alcoa: Bullish harami formed at top edge of cloud

Weekly chart shows the down trendline has been broken.
Weekly Impulse allows to go long in the daily time-frame.



Daily chart shows that the break in the down trendline was subsequently confirmed by the crossover within the GMMA long-term group.
GMMA long-term group starting to slope upwards.
Bullish harami formed at top edge of the cloud.
Both price and Lagging Line are above the cloud. (bullish indication)
Conversion Line is above the Base Line. (bullish indication)



Daily Impulse allows to go long.



Bullish harami formed below 10d EMA and oversold stochastic oscillator satisfies the candle pattern filtering.



Bullish harami formed just above $10.
$10 has acted both as classical support and resistance in the past.


Outcome:

Subsequent to the original bullish harami, the following candle did not confirm the bullish pattern.
However, the three candles formed a non-ideal Bullish Stick Sandwich reversal pattern.
17 Feb: Opened LONG at $10.30
27 Feb: Closed at $10.38
Reason for closing: AA is not enjoying strong investor support, as evident from the GMMA long-term group of averages that is not expanding.
Profit $0.08, 0.8%

JP Morgan Chase: Double bottom

JPM formed a double bottom chart pattern and broke out from the down trend line.
After the breakout from $37.00, there was a throwback to test the resistance-turned-support.
Price has now gone above the immediate swing high after the formation of the double bottom chart pattern.

This is not a trend trade. This is a double bottom chart pattern trade.


Outcome:

6 Feb: Opened LONG at $38.06
19 Mar: Closed at $44.84
Reason for closing: Price target for double bottom chart pattern achieved.
Profit $6.78, 17.8%

Citigroup: Breakout from down trend

Weekly chart shows a penetration of the down trendline.
Weekly Impulse only allows to go long in the daily time-frame.



Daily chart shows the breakout from the down trend with a rising window.
GMMA short-term group is expanding and rising.
GMMA short-term group is above and separated from the long-term group.
However, GMMA long-term group is not expanding quickly.

This is not a trend trade. This is a breakout / bottom-fishing trade.


Outcome:

6 Feb: Opened LONG at $33.24
19 Mar: Closed LONG at $36.80
Reason for closing: Anticipate strong resistance around $36.60 which has acted as both support and resistance during 2010.
Profit $3.56, 10.7%

ComfortDelGro: Steady up trend with little volatility

Weekly chart shows the breaking of a 9-month-old down trendline follwed by a bullish MA crossover.
This suggests to look for long trade in the daily time-frame.



The price and Lagging Line in the daily chart are above the cloud, indicating bullishness.

GMMA long-term group is running parallel and moving upwards.
GMMA short-term group is separated from the long-term group.
There is not much expansion and compression within the short-term group.
These indicate that ComfortDelGro is in a steady up trend with little volatility.
This is good for someone who does not want volatility, and has the patience to hold and ride the trend until it has been proven to have ended.

Immediate target price is $1.52, next target price is $1.64.


Outcome:

LONG trade was not opened because was not able to buy at desired price.
The target price of $1.52 was achieved on 20 Feb with a dragonfly doji.