Noble Testing Major Support Confluence Zone

Falling lower and lower since 17 March 2010 peak. Gap down and more declines. Now testing critical support confluence zone consisting of the following supports :-

1. 100 EMA

2. Ichimoku Kumo Cloud

3. Lower boundary support of green channel

4. Orange support band

If this support confluence region is unable to halt further price decline the next probable supports are as follows :-

1. Green support belt

2. 145 EMA

3. Pink support zone

4. Trough at 2.64 which is the breakpoint reference for the double top pattern indicated by the grey oval shaded area on the chart. Support failure here confirms the double top formation.

However, if the testing of the current confluence support zone results in a rebound expect major resistance at the light blue gap region.

Genting Testing Support Band

Testing of light blue immediate support band in progress. Support failure here will see a retest of the lavender support zone. Immediate resistance is the dual resistance band formed by the blue channel. Next resistance is orange resistance belt followed by the red extension line of the neckline of the complex head and shoulders pattern. Any upward movement will most probably be halted at the green resistance zone.

If Big Bears continue to be in control in the afternoon trading session the light blue support may breakdown. Stay alert and be nimble.

Z-obee Trailing Profit Protection

Kudos to those who bought at the breakouts of the red trendline or the green horizontal resistance line. As price continues to move higher and higher the risk of a retracement is imminent. A simple profit protection such as a 1% percent trailing stop from the daily low will provide a safety net to ensure that accumulated profit is not eroded. As long as the price does not go below the blue trailing stop let your profit ride on this zooming rocket.

Long or Short based on Metastock Exploration 3% Crossover

Healthway Potential Ascending Triangle

Hovering near slope support of potential ascending triangle. A rebound here will retest the horizontal resistance of the triangle. Immediate support is the green support zone. Support confluence is the intersection of the lower dual band boundary of light blue channel and the dual band slope of the triangle. Support failure here will probably find new support at the light blue area and attempt to create a new slope support there.

Yanlord Trapped Inside Ichimoku Kumo Clouds

Fifth attempt to clear and move above the red channel halted again in morning trading session. Immediate resistance is the red channel upper boundary. A breakout above the Ichimoku kumo cloud region will meet the grey resistance belt.The next resistance is the upper dual resistance bands of the green channel followed by the pink resistance zone. Expect more probable resistances at the coloured bands above this pink zone.

Immediate support is formed by the light blue zone. Any attempt to breakdown below the Ichimoku kumo cloud must challenge the brown support region. Support failure here will plummet price into the pink channel and retest 1.70 trough formed on 19 Feb 2010.

Z-Obee Third Attempt to Breakout Above Ascending Triangle

Once again for the third time halted by the green resistance zone. Immediate support is the orange support belt. Breakout above the immediate green resistance zone will probably challenge the dual resistance band of the green channel. Clearing the horizontal resistance of the red ascending triangle will probably find new support around this horizontal line.

Any pullback below the immediate orange support belt will meet strong support at the intersections of the lavender support area, the upper dual band of the blue channel and the lower dual band support of the green channel.

A breakdown below the red slope support of the red ascending triangle will negate this triangle formation. However, technically there is a possibility of a larger triangle pattern if a support base forms at the light blue support zone or the Ichimoku kumo cloud region.