Posts

TUGS on immediate trend breakdown

Image
Harbor Star Shipping Services, Inc. TUGS is on a breakdown from the following patterns: - Breakdown from a Head-and-Shoulder Top pattern (projected TP is near 3.00) - Breakdown from the Uptrend Price Channel (projected TP is near 2.75) *Immediate support area is around 3.16 ~ 3.24. Trading Plan - Avoid for now until new trend develops or consolidation area has been established.

TUGS consolidation (update)

Image
Harbor Star Shipping Services, Inc. TUGS consolidation continues and it's now getting closer to the support line of the current uptrend price channel. *Trend trading opportunity remains intact. *Avoid on price channel breakdown (a potential Head-and-Shoulder Top breakdown if that happens). See previous analysis for Trading Plan template: https://psetrends.blogspot.com/2017/02/tugs-consolidation-continues.html

PGOLD looking toppish

Image
Puregold Price Club, Inc. PGOLD looks toppish after potentially completing a Bearish 1.27AB=CD Harmonic Pattern . A Gravestone Doji  candlestick also formed up around the PRZ (Potential Reversal Zone) of the harmonic pattern which potentially suggest that the bullish rally or uptrend is about to reverse or consolidate. *Gravestone Doji requires confirmation. Trading Plan - Sell or scale down position on reversal pattern confirmation.

PHEN on a potential Shark Harmonic Pattern

Image
PHINMA Energy Corporation PHEN is potentially forming a Bullish Shark Harmonic   Pattern . *A breakdown from "A" leg (2.22) will give it higher probability of completing the pattern. Another bearish pattern is also developing - a Rising Wedge pattern. A breakdown from this pattern will have a projected target towards the "0" leg (2.03) which is in confluence with the PRZ (Potential Reversal Zone) of the Bullish Shark Pattern. Trading Plan - Only trade this setup once the Bullish Shark Pattern has been completed. Bullish Shark Pattern Rising Wedge Pattern

TUGS consolidation continues

Image
Harbor Star Shipping Services, Inc. TUGS continues to consolidate towards the support line of the uptrend price channel. This consolidation/pullback has been warned already by a prior bearish divergence pattern on RSI and EFI . *MA20 acting as immediate support area for the current uptrend. *Resistance area around 4.00~4.13. Trading Plan - Trade the trend of TUGS using MA20 or the uptrend support line as entry point (use the Stochastic crossover and pointing up as reference timing signal). - Stop-loss should be on price channel breakdown. Can use the breakdown from MA50 as stop-loss for those willing to take higher risk. - Avoid on price channel breakdown.

PLC trend trading potential

Image
Premium Leisure Corp. PLC revisited the nearly 5-month uptrend line around MA50, a potential support area for the current trend. *Major support at 1.20. Trading Plan - Test buy near the uptrend support line or around 50MA to ride the trend. - Set stop-loss just a bit below 1.24 or on major support breakdown. - Profit run a winning trade with trailing stop.

MPI consolidating in a potentially bullish pattern

Image
Metro Pacific Investments Corporation MPI is consolidating in a bullish  Flag pattern, a trend continuation pattern. - Consolidation may likely continue with downside risk towards 6.40 ~ 6.60 range in the near term. - Resistance area is around the recent 78.6% retracement (7.10) after the reversal from a Bullish Bat. Harmonic pattern. Trading Plan - Buy the breakout. - Also a potential position play if it dips towards 5.80~6.20 area.