On the 6 month time frame, the price continued to go down and touched the support at 38.2% Fibonacci retracement level and on the 1 year time frame we could see it is approaching another major level. Since the time we saw the Bearish Engulfing Pattern last July 6 its general trend is downward. We [...]
After few weeks of ignoring BEL lets see where this is moving since the time we saw the Bearish Engulfing Pattern last July 6. Definitely from that day on we are seeing a downtrend. Is it ripe to reverse now? Looking at the 6 months time frame and applying Fibonacci Retracement it looks like the [...]
From the bearish engulfing pattern that we saw last July 6, the general trend was southbound (although with some green candles along the way) until last Friday we can see an inverted hammer. Is this the time for the reverse of trend? Inverted hammers are low reliability patterns. Bullish verification on the day following the [...]
From the day BEL has Bearish Engulfing Pattern until now the major trend is still down. It may have some spikes along the way but until we can see a good candlestick formation that signals a reversal, this will continue with its course. Caveat!
Bel’s Bearish Engulfing Pattern that we have seen last Friday which suggests a trend reversal was confirmed today when the price declined by 1.56% to 5.06 There is a gap at 4.8 – 5.0 Will it go down to close the gap before going up again?
With a big news about casino, many people wanted to ride the bandwagon last Friday. There was an hour suspension for the BEL stock but when it was lifted, BEL went down instead of going up. Was it because of Profit Taking Friday or sell on news? Maybe! But let us try to check our [...]