Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Monday, December 17, 2007

Ferro China 171207

The long term support line (blue) you see in the chart below was joined from the lows of 5 mar and 17 aug, which was the 2 biggest sell downs for this year. I've extended it to the right. And you can see it points to roughly the 1.65 region.

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What it simply means is that we could see Ferro China hitting that support soon, if the current downtrend continues.

Tomorrow's support is @ 1.74, which isn't much of a support, if you consider today's low is @ 1.75.

Long term support (blue) indicates support @ 1.63 (although I don't expect it to hit, not yet anyway).

Good Luck !!
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