Today, Silver Lake Resources Limited, which is an Australian gold producing and exploration company (stock code SLR on the ASX), has been added to the watch list. As you can notice from this weekly chart, the price action has been very bullish. After 4 attempts at the resistance (neckline of its inverted head & shoulder - blue trendline), the price was finally able to breakout in June. It then came back down to test that previous resistance as support. The price is currently

Here's an interesting setup: Quinstreet ($QNST) broke-out of its resistance area (orange rectangle) on high volume (3x the 50-day average - blue arrow). The price pulled back to its breakout level, confirming that the old resistance becomes the new support, on low volume (less than the 50-day average - red arrow), with momentum straying in a bullish range. Now, the price needs to bounce off this area and start a new uptrend to be a complete textbook breakout. If QNST is able

Just a quick note on some stock names listed in Hong Kong, as it'll be interesting to see how they act in the next few days from their current support/resistance level which should give us a hint on the overall trend. Let's start with those currently testing support: Tingyi (322) Swire (19) Bank of China (3988) Link Reit (823) ICBC (1398) ...then those testing resistance: HK & China Gas (3) China Resources Power (836) ...and finally those retesting their breakout level: Hang