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Technical Analysis
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Gallen
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24-Mar-2006 08:30
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chart posted at http://kelongstocks.blogspot.com |
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Gallen
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24-Mar-2006 00:33
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Extracted from my blog http://kelongstocks.blogspot.com Please visit my blog for full writeup. Kindly support my blog too! Technical Analysis (Update) Previous posting: Chart shows CSE in a trading band between 83 to 85 cents at the moment. Immediate support is at 83 cents (recent low), followed by at 81.5 cents (prior high in Sep 05 and recent low) and then 80.5 cents (EMA 50). Prices must break 87.5 cents resistance on high volumes for bullish trend to resume. Bought some today at 88 cents (some problem with posting chart tonight). Chart shows breakout from 87.5 cents to close at a 52-week high of 88 cents on a belt-hold candlestick today. Judging from previous breakouts after a belt-hold candlestick, some correction will set in the next day but immediate support will hold. Immediate supports are the breakout point of 87.5 cents followed by 86.5 cents and then 85 cents. Technical target on breakout is 92 cents to 93 cents. .......continued at my blog (problem with chart, will try to post again tomorrow morning) |
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