Jardine C&C in potential bull flag

Evening all,

Jardine C&C, C07.SI is forming what looks like a potential bull flag. At the start of July, Jardine C&C put in long white candles on good volume to push price near to all-time highs. The rest of the month saw a retracement down to the 50- and 200-day MAs. Volume tapered off as well.

In light grey circles, I highlighted a potential inverted head and shoulders pattern too. With these two potentially bullish patterns, there is quite a chance Jardine will break out and blast through all-time highs. A breakout remains to be seen though. On the left side of the chart, you will notice another inverted head and shoulders pattern. This one looks much better in terms of price action, but there was no strong breakout, and the pattern fizzled out in the end.

Riding on the positive sentiment, Jardine C&C may find some buying pressure. If it does happen, I will be ready to catch the upward breakout from a bull flag.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: