Ranked as the counter having the lowest k% value using stochastics crossover criteria as at 24th Dec 2009. The current trend is still down and the 200 days EMA support is being tested. Price has been riding down the lower Bollinger band since 16th Dec 2009. The latest doji candlestick bar is sitting on a triple point intersection of the lower green channel line, the upper red channel line and the 200 days EMA support. A successful counter trend rebound here will meet immediate resistance at the 40 cents support turned resistance which is also the mid Bollinger band. Further upward thrust will be challenged at the upper Bollinger band followed by the upper green channel line. If the triple point support fails then the next support will be the red support channel followed by the Fibonacci retracement at 35 cents and the 200 days Simple Moving Average support.
No comments:
Post a Comment