We have speculated last Friday that LR may bounce from 50% Fibonacci Retracement level but after rallying as high as 8.39, it settled near its opening price. The price movement could mean that while the bears are still in command, the bulls have just make their presence felt and starting to move forward making the [...]
The past movement of LR showed that it bounce after hitting 50% Fibonacci Retracement level, will it be repeated? This is an interesting stock as it formed a Gravestone Doji at the bottom while hitting the 50% level. When this candlestick pattern is found at the bottom of the downtrend, this suggests that the trend [...]
Bulls may have been able to counter the bears but are not able to control the battlefield yet. RSI is already shouting oversold but I think it will go sideways for now with bullish bias. We have seen other stocks touch the lower band of Bollinger Band then go sideways before doing a rally. It [...]
At one glance we may consider LR to have a bullish reversal after it close 8.80 today following the Hammer candlestick yesterday but one should be careful because if you monitored the action today, Asiasec force close from 8.50 to 8.80 at 3:20 this afternoon. If it closed at 8.50 then bullish reversal is not [...]
Is LR going to confirm its bullish trend on weekly chart by passing through the middle band and staying there this week? There seem to be a slowly by surely move by LR but that is still have to be confirmed tomorrow. Candlestick is a White Closing Marubozu which is a continuation pattern but could [...]
Few weeks ago we saw a hammer followed by weeks of rallies. This time on our weekly chart, we can see similar candlestick. Will it have a similar effect? Coincidentally, both have the same RSI. Only big difference between them is that the previous candlestick is just below the middle band while the latest is [...]
Are we going to see LR bounce from the current support at 38.2% Fibonacci Retracement level? Twice in a row, this level has been tested on how strong the support is. While last Friday’s candlestick suggest bulls is trying to win, reversal didn’t happen. Today we see a Doji which suggests indecision among traders. With [...]
A low reliability candlestick called Hammer can be seen on our daily chart. Although it is bullish in nature, it would have been better if it close in green. We may also get some help from our Fibonacci Retracement. Price went down and past the 23.6% level but the bulls tried to avoid staying there [...]
LR made a good rally yesterday as it went up as high as 9.4 and settled 4.13% to 9.33 Looking at the daily chart it looks like a breakout from the resistance at 9.29 Is this going to continue to rally today? Immediate support is now at 9.29 (previous resistance). Should it go up, next [...]
Looks like LR just wanted to rest last Friday (plus its a profit taking day). Although it formed a Hanging Man, its action today suggests that bears didn’t win the game. A continuation of uptrend seems intact. Caveat!
LR (LEISURE & RESORTS WORLD CORP.) Without bullish candlestick formation signal and price action last Friday below 50% Fibonacci Retracement level this stock might go sideways or worst go down. Nobody is looking at this stock for now as we only see 5 trades last Friday. Effect of the Ghost Month? Sleep well stock.
We have 2 days downtrend then a doji at the 3rd day which appears at the bottom. Is this enough to tell us it is going to reverse? Maybe. But my take on this is that it MIGHT go up a little and then move down a bit. In other words this is still in [...]
LR too is presenting us with a bearish engulfing pattern. But at least if we will close the gap, it will only take a few flucs down unlike BEL. Let’s see the chart
The opening price gaps up from the previous closing. It was bullish at the start as the price went up but went down to close near (designated by long upper tail) the opening. The closing price is indicative of a possible change in trend as the bears over-powered the bulls. The candlestick formed is call [...]