Top Volume Stock Analysis (SG Market) - Rowsley



Rowsley (A50):

Bullish Momentum Resumes
Last Done: S$0.186

Stock price moved after Business Times reported that Peter Lim, company co-owner, has announced that it will speed things up at the company. Ng Ser Miang, has also been announced to be the new Chairman of the company.

The series of good news likely to get traders and investors excited with the stock's price action showing signs of possible uptrend momentum, with possibility of retesting its nearest resistance at S$0.20. A breakout from S$0.20, would see the stock's uptrend movement resume.

The bullish signs include white candle break up with high volume and MACD bullish crossover observed.

*Disclaimer Apply

Popular posts from this blog

Wyckoff's Law of Effort

Image
Law of Effort Wyckoff's Law of Effort states that on any single trading day (or week depending on time frame), huge volume (effort) push by participants should see huge price movement, resulting in a wide spread (long body). This is a basic principle of effort and result. However, as per Singtel's case study, we saw huge selling volume on 11 May, yet the price action only shows a narrow spread (small body). This divergence of effort and result in Wyckoff's Law of Effort principles, indicates possible exhaustion in selling or hidden buying. Thus, with a lack of weakness, Singtel should continue trading range bound for the coming days or weeks till further strength or weakness is observed. Swing Traders who trades range can consider positions at 3.70-3.72, with exit target 3.76-3.78.
Read more

Bullish Case for Bitcoin

Image
BTC Exhibiting Signs of Accumulation 1 year after BTC price plunged from its US$20,000 high to a recent low of US$3,215.20, now we are seeing technical evidence of  accumulation by the smart money is in progress . Above is an illustration of Accumulation Zone of the Wyckoff Price Cycle. We are watching very closely for price to cross the creek (est. US$4200 level).  A break above the level, we deem that price has proceeded into the Mark Up Phase with 1st objective at US$5,800. If creek is not crossed, a break below US$3,190 will falsify our Accumulation zone analysis. Join us in our FREE Introduction to Richard Wyckoff Seminar to learn more about the method and how the method add value to your market timing analysis.
Read more