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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

1/11/2010

Wing Tai potential for an up move

I don't feel like writing much today, just want to go to bed as soon as possible. So here it goes.


Fig 1 Wing Tai Daily Chart

There are 2 things that attracts me to Wing Tai, one is the 3 white soldiers. The other is the flag. I was expecting a pull back after the 3 white soldiers because the move was relatively strong. While the last few days has shown a pull back, the volume is reducing, giving a typical flag behaviour. So it is likely to move up to a level of 2.168.

although the RSI is at the top, it has not yet formed divergence, so there is a good chance that this flag is going to realize.

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