Technically BEL is becoming more interesting. It dips today by 2.69% but the movement is just perfect within our triangle formation. The 23.6% Fibonacci Retracement level also helped support the price not to go out from the formation. Caveat!
Looks like BEL has been creating a good support at 23.6% Fibonacci Retracement level leaving the lower support line when BEL snobs traders at 38.2% Fibonacci Retracement level. We could also see interesting formation developed by the price movement of BEL. With the higher lows and lower highs, its creating a triangle. Will it explode [...]
BEL didn’t give chance to those who Wait a little bit more for BEL at 38.2% Fibonacci Retracement level as it went up for two trading days now. Today it breaks and stayed above 23.6% level. This level will now act as our support and if it will hold strong, 7.0 and above should be an [...]
BEL is in a downward trend (short term) after it hit all time high 7.10 intra day last April 24. RSI or Relative Strength Index may approach oversold level soon. While the 23.6% Fibonacci Retracement level which acts as our support few days ago has been breached, it is now the job of the bulls [...]
Looks like BEL still has strong legs as it rally for another day which raise the price to 6.84 per share from 6.56 yesterday. Virtually no resistance as of this time but support level seems to become farther and farther from the current price. Fibonacci retracement level shows that 23.6% level is our support. Lets [...]
Last Monday we posted about BEL following its rhythm and it looks like it did… so far. Now that it is near the support, are we going to see a bounce anytime soon? If there is a bounce, will there be a break from the resistance as well? Let us see what will be the [...]
Looks like BEL is having a hard time going up just yet. Today we see it created again a Shooting Star candlestick like the one we saw last few days ago. On our graph it seems that BEL has created a resistance and support slopes. Will it follow the same path? Caveat!
Last Jan 22 we were looking at BEL‘s chart and see that it is forming a Symmetrical Triangle. During that time we asked if it will break but it didn’t happen until last Friday when it rallied. But it seems BEL is facing yet another resistance. Does BEL still have the strength to push its [...]
BEL has been quite for a while but upward trend is still intact. Looks like it has been in consolidation mode as it formed a Symmetrical Triangle. Question is: are we done with this phase? Is it ripe to continue moving up or a reversal will be seen soon? Even though a continuation pattern is [...]
BEL may further correct following the small decline today or it might go sideways instead as we saw a diminishing volume. There was a Dark Cloud Cover but unlike few months ago when the confirmation was a large red candlestick, this time its a small one. Both bearish candlesticks have sell signal on Relative strength [...]
Are we at the bottom of this stock’s trading range? Looks like it but one should be careful as it might also go down further. Price of BEL is moving within a rectangle formation on weekly chart. A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. [...]
Speculated on BEL to rise following the Doji candlestick plus the news about MIH/B but price went down and today it went down further breaking the support at 50% Fibonacci Retracement level. Will it go further down or bulls will try to dominate the field? No clear signal yet for the bulls. Caveat!
Looks like the Rising wedge on BEL that we saw since last week of October has just claimed its victims. Although only few participated on the trade for BEL today, it has been sending a message through large red candlesticks for two days now. As we can see in our chart, the price break down [...]
The Rising wedge on BEL tells us to be careful. Although the price today went up by 1.7% and shy away from the support, the warning is still there. Does the upward move today should have been the best exit for ipits or there will still be some chances along the way? The Rising Wedge [...]
Last week we said that BEL may go sideways while waiting for some updates about the deal with Melco. We saw an Ascending Triangle pattern and price is moving within it. Now that the news have been out and going back to our weekly chart, it seems that a soft breakout from the resistance has [...]
BELLE CORPORATION (BEL) without fresh news from the BELLE camp or a rumor, its price may continue to run sideways within the Ascending Triangle. Just closely monitor this stock as you might be caught unprepared. A breakout from this pattern could easily be spotted by a price going up beyond the horizontal line (resistance) plus [...]
A possible pullback to test the support at 23.6% Fibonacci Retracement level or around 5.12 after it made a run following the cue on Bullish Gravestone Doji found last week. The last two candlesticks also formed a Dark Cloud Cover which further increase our warning signal for reversal. Although this formation has a high reliability [...]
On the last two days prior to today the price action of BEL suggests that traders are in an indecisive mood. Bears and bulls seem to wait for the opponent’s move. Today we saw a rally at around 10 AM as it reach intraday high of 5.3 but bears were able to stop the rally [...]
BEL is ringing again just like last July (The BEL is ringing.. for what signal?) Will the sound be harmonious this time? After the action last July it has been going down until today when its rally looks convincing. It went near the 38.2% Fibonacci Retracement level then shoot up passing the 23.6% level although [...]
BEL‘s movement at this time can be likened to the movement last summer when it was moving sideways within the 38.2% and 23.6% Fibonacci retracement level. The question would be, will it also surge like the previous? What will be the new catalyst so that the price will surge like the one we saw in [...]