Wednesday, December 16, 2009

China Eratat Bullish Engulfing Pattern as at 16 Dec 2009 435 pm



Broke above blue downtrend resistance line on 8th Dec 2009 and established support at green support zone. Bullish Engulfing candlestick formation indicating high probability of trend reversal. Immediate resistance is pink zone and upper Bollinger band. Breakout above pink resistance zone will propel price towards next resistance at light blue region. Stochastics, RSI and MACD looks favourable with lots of upside potential. Take note that 3 bonus warrants will be given for every 10 shares.

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