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.

Friday, December 21, 2007

Ferro China 211207

Ferro China seems to have bottom out. However, the next few trading days would be critical as you can see Ferro China being 'forced' into a corner.

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The long term uptrend support line (blue) was added by joining the lows of 5 mar (1.27) and 17 aug (1.48) and extended to the right.

Green trendline shows support for Monday @ 1.692, and resistance for Monday is @ 1.722 (brown).

You can also see 3 trendlines converging on Monday - Lower brown, blue and lower red. All @ around 1.645, which would be an important support level. If that breaks, Ferro China could hit 1.60 (16 aug low) or even 1.48 (17 aug low).

Good Luck !!
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