Why I am bearish
$Frencken(E28.SG$
Technical analysis has been around for >100 years since Charles Dow first introduced it in the late 1800s.
Technical analysis has been around for >100 years since Charles Dow first introduced it in the late 1800s.
Frencken has surged in price since Mar '20 till Sep '21. A double top pattern has been formed. It is a bearish technical reversal pattern that formed after the stock reached a high price 2 consecutive times with a moderate decline between the highs. It signals a medium or long term trend change. It is confirmed once the stock price fell below a neckline equal to the low between the 2 prior highs. A significant correction occurs once that happens.
Below are examples of double tops: Amazon and Netflix.
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micksonns 95106726 : Does that mean it's going to drop again?
bullrider_21OP micksonns 95106726: Yes
micksonns 95106726 bullrider_21OP:
What is the approximate technical analysis going to be.
Jaypaloh : i not worry about frencken , support all the way , hold for long.
bullrider_21OP Jaypaloh: ok we will see how it goes
Guich Jaypaloh: it is fundamentally good so I have little worries. with recent tech sell down, maybe good to pick up some.
WinningTrader : if fundamentals is good, then shouldnt have fall so much. unless highly manipulated.
Passive Investor : can u comment about Tesla? previously drop until 898..then rise to 1100+..life u have time, mind sharing your technical analysis? I believe in trading ..we need to compare both fundamentals and technical analysis
.cannot just relied on 1 coin..like that we will forever missed out on good opportunities