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Title: Bearish Pennants & Flags
Description: A bearish continuation pattern


Lion - October 27, 2005 02:28 PM (GMT)
2005-10-27 daily chart (requested)

UniFiber

On 1st look, there is trading opportunity at price of $0.29 . Yet today's flat closing on equivalent high volume was disappointing...

1. double-bottom with initial target along $0.33
2. notice the true resist is along $0.30 instead of $0.29 as explained on chart
3. good signs from both OBV & RSI as bullish divergence observed

With today's inverted hammer candle, looks like there is a further delay on upside advance, with immediate support back at $0.26

user posted image

Lion - October 27, 2005 02:29 PM (GMT)
2005-10-13 daily chart ($2.41)

Cosco

Weakness has been shown on both price & volume indicators on Cosco:
1. MACD observed divergence + breakout on 04/10 whe price was still at $2.50+
2. almost about the same time period, CMF has sank into negative following a bearish divergence, suggesting selling strength in control
3. flag-breakout observed on 12/10, initial flag-pole target objective along $2.29 ~ $2.31

Previous open-gap of $2.44 ~ $2.48 now turns into resist

user posted image




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