Ezra (Forming Bearish Flag Pattern)
Posted under: 
Over the past 3 trading days, Ezra triggered a bearish flag formation on the technical charts despite showing signs a rebound. It is observed that the trading volume of Ezra is on the decline in spite in spite of it trading higher. The formation of the bearish flag indicates that there is a chance that Ezra could potentially trade lower. If the bearish flag materialises, Ezra could potentially trade as low as 83 cents (as indicated in the big blue arrow in the chart above). Ezra currently faces immediate resistence from it’s 14 day moving average line. On top of that, the MACD seems to be forming a bearish crossover and the RSI is showing signs of weakening.
Before trading Ezra, it would be critical to observe that Ezra is able to find normacy from it’s 20day moving average line on tuesday. It would be good to observe the market on Tuesday’s opening before decide any trade on Ezra.
Got anything to say? Go ahead and leave a comment!
SGSharemarket Search
What’s NEW?
- Straits Times Index (STI Outlook for 21/11/2011 to 25/11/2011)
- Olam International Limited announced the proposed acquisition of 100% of equity interests in the Progida Group
- Genting profits up 8.3% in Q3
- Noble Group Share Price
- Three Billion New Capitalists: The Great Shift of Wealth And Power to the East
- Inside Job
- Ichimoku Basics
- Singapore Stock Market Screener 07/11/2011
- Genting HK (Poised for further upside)
- Ezra (Forming Bearish Flag Pattern)
- Straits Times Index (STI Outlook for 08/11/2011 to 11/11/2011)
- Bond Report: Treasurys fall on Greek news, ECB cut
- Biosensors International Group: Further market share penetration (OCBC)
- UOB: Looking attractive again (OCBC)
- Stock Market Analysis 02/11/2011
