In Retrospect: EPHI, URC, ASIA,ATI

EPHI

Retraced back to 2.75. Possibility of a flag or pennant formation is now impossible as price may still move downwards for this week. There may be support at 2.60 level.

URC

I was wrong with the observation about the divergence. Based from what was taught in the advanced TA class, a shorter time period makes the divergence more credible. The divergence I pointed out was from Feb to May which somehow lessens the credibility of the divergence. When I looked at the shorter period in between Apr and May, there was no indication of divergence as the MACD moved together with the price both creating a lower low. Still looking for a sign of reversal, as of now support is at 15.75. A break lower than that could mean a continuation of the down trend.

ASIA

The support line needs to be redrawn as the price move sideways hitting the support line of the triangle. The symmetrical triangle is still intact. As of current the lowest price is at 12.00, but it could still move down to 11.50 for this week. At 11.50, this could be a good buy at that level assuming RSI still moves further near the 40 level and MACD does not cross below the zero line.

ATI
Price did moved further to 6.20, but the flag or pennant anticipated is already invalidated. After moving down to 6.20, price moved sideways invalidating the formation.

In Retrospect: EPHI, URC, ASIA,ATI

EPHI

Retraced back to 2.75. Possibility of a flag or pennant formation is now impossible as price may still move downwards for this week. There may be support at 2.60 level.

URC

I was wrong with the observation about the divergence. Based from what was taught in the advanced TA class, a shorter time period makes the divergence more credible. The divergence I pointed out was from Feb to May which somehow lessens the credibility of the divergence. When I looked at the shorter period in between Apr and May, there was no indication of divergence as the MACD moved together with the price both creating a lower low. Still looking for a sign of reversal, as of now support is at 15.75. A break lower than that could mean a continuation of the down trend.

ASIA

The support line needs to be redrawn as the price move sideways hitting the support line of the triangle. The symmetrical triangle is still intact. As of current the lowest price is at 12.00, but it could still move down to 11.50 for this week. At 11.50, this could be a good buy at that level assuming RSI still moves further near the 40 level and MACD does not cross below the zero line.

ATI
Price did moved further to 6.20, but the flag or pennant anticipated is already invalidated. After moving down to 6.20, price moved sideways invalidating the formation.

StockWatch (May 07- 11) : EPHI, URC, ASIA,ATI

EPHI (Chart: Daily Resistance: 3.10 Support: 2.40)

Possible return move for this week. Watch out for retracement near to 2.60. This is also a possible candidate for a flag formation.

URC (Chart: Daily Resistance: 16.75 Support: 15.75)

No chart pattern for URC except for the RSI reaching oversold level. We need to watch also the divergence of the MACD against price movement. If a higher low has been recorded in the MACD and price still moves lower, this may be a good sign of a reversal from its current down trend.

ASIA (Chart: Daily Resistance: 13.50 Support: 12.25)

ASIA is forming a symmetrical triangle, with a very promising target of above 23. The chart is very promising as MACD is consolidating above the zero line which is an indicator or bullishness. Recommendation: Buy only on break out. If the price moves further downwards, it may still go to as low as 11.

ATI (Chart: Daily Resistance: 6.80 Support: 6.30/ 5.60)

ATI may be forming a pennant or flag formation. Watch out for further downward move towards 6.20 level.