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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.

9/27/2013

Lippo Maple Tree Indo Retail Trust

This evening I opened the land profile and chose to look at Lippo Maple Tree Indo Retail Trust (again it is a long name).

The reason I put this analysis up is because this counter show a different indication of a reversal.

This chart is relatively young beginning 2007, the poor chap was listed in the midst of a down trend and it took this counter years and even now has not yet reaching the price at first day of trade.

I have joined 2 bottoms to form the support trendline and what do you know?! There was already a false break in 2012. This shows 2 things:

1) The trend is weak and indication of potential reversal;
2) The trend line is prudent, if this line is broken, this will be a strong support turn resistance;

This trendline is confirmed broken recently on the week of 23rd of August 2013. It was tested since last week and for both week, the counter was stopped by the trendline.

The question is: What reversal pattern is there to prove the case? The arguement is weak, which is a reversal triangle.To date the formation is not yet complete as far as I am concern.

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