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When???
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trading_coach
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31-May-2006 10:48
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From a technical perspective UTAC is showing weakness at the moment and I would not be buying it. The brief summary is as follows (supported by the chart I have posted which I hope you can see): Back on the week ending 18Nov05 it broke out of a downtrend and also met some of (my) other buy rules so presented an excellent entry opportunity. Others may have also entered in the week of 6Jan06 when it broke through a triple top resistance of .74-.745. incidentally this was also a strong resistance level of 50% of the previous rise from Dec04-July05. Once broken through the critical level it had a great rise up. It then had a consolidation pattern through Feb06-April06 (where some people may have sold 50% to take profits) before bouncing off a support level of 0.885 (for a 3rd time). In late April and early May it made 3 attempts to close on a weekly basis above the important 150% resistance level of about 1.04, but then dropped dramatically, and most critically it smashed down through a support level of 0.885 which it had bounced off no less than 4 times on the weekly charts. It has now broken below my uptrend band on this stock (hence a "full sell"), although may show some consolidation between 0.78-0.90 which are the fibonaci retracement levels based on its rise between Oct 05 and April06. This may provide some support for another rise, though there are no indicators of this yet... As to what it will do next, no one can tell you but in summary it is not a stock that is showing any buy signals at the moment.. Hope that helps. |
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gho485
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31-May-2006 07:58
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Personally, will stay out of tech stock as i feel with the current market trend..upside are limited. those counters mentioned look attractive now at their low but in the long run tech will not be bullish anymore. |
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Bistrio
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30-May-2006 23:09
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Chartered, UTAC and StatsChip and Creative what do u think of these 4 stocks. Creative look like pretty low right now |
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pikachu
Veteran |
30-May-2006 22:17
Yells: "Holy Cow!" |
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I think Chartered also going down for now.. from the looks of the charts...... basically most of the market is down quite bearish now. If you're looking for cheap buys, wait for the soccer season to be over. I think the market will pick up then. |
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Bistrio
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30-May-2006 22:13
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Ok but for semiconductor stocks have not been performing well for the pass two years. Does any expert out there got any information about these stocks. Charter been going down for the past few days, how do you look at this stock? |
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pikachu
Veteran |
30-May-2006 21:56
Yells: "Holy Cow!" |
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hi Bistrio, I think you better wait a while longer. it has uncertain outlook when i look at the TA charts. maybe look again after world cup soccer |
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Bistrio
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30-May-2006 21:44
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Wonder Is it right time to buy UTAC? Any suggestion? |
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