Dasin Retail Trust forms bearish "Rounded Top" chart pattern
Jul 13, 2020
Recognia has detected a "Rounded Top" chart pattern formed on Dasin Retail Trust (CEDU:SGX-ST).
This bearish signal indicates that the stock price may fall from the close of
0.790 to the range of
0.730 -
0.740.
The pattern formed over 40 days which is roughly the period of time in
which the target price range may be achieved, according to standard
principles of technical analysis.
Tells Me: There has been a gradual shift from an uptrend to a
downtrend. The Rounded Top represents a slow and gradual reversal of the
trend from up to sideways to down. Volume diminishes near the bottom as
the stock trades within a range and finally bursts as investors become
more decisively bearish. While rarer than other reversal patterns and
often longer term, Rounded Bottoms usually mark a major turnaround.
This bearish pattern can be seen on the following chart and was
detected by Trading Central proprietary pattern recognition technology.
Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.
Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.
