Trade Ideas for Thursday - ADCT, UNTD, CHT
Chart courtesy of stockchartsADCT has printed a bullish engulfing candlestick pattern in today session. May be this is the right time to see a more significant rebound. Share price is gathering momentum to the upside and the first objective is at $17. The Bullish Engulfing is one of the more clear-cut two day bullish reversal patterns. The formation reflects buyers overtaking selling strength, and often precedes a continued rally in price.
Chart courtesy of stockchartsChunghwa Telecom broke out of a bull flag today. Today's volume was what you want to see when a stock breaks resistance. The technical chart shows the rally is back again.
UNTD could go either way at this moment, it's really dificullt to predict next movement. The breakout of the bullish triangle to the upside has failed and stock has closed near the rising trendline. Keep an eye in the trend line mentioned in the chart, if stock break down this trend, you should be careful on the long side.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
