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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.

Sunday, December 9, 2007

SPC 071207


SPC broke down from its support of 7.75 on 30 nov, which also saw it trading below trendlines b and c, which should have served as a warning.


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Based on downtrend support a, SPC hit 7.35 on 3 dec, which seems like support @ 7.35.

6 dec saw SPC opening above downtrend resistance d and broke resistance of 7.75 and touched trendline c, before closing right on the uptrend support trendline e.

7 dec again saw SPC trading withing the trendline channels of c and e.

We may see SPC breaking out from this channel soon, as trendline c and e meets on 12 dec, which is 1 day after the Fed meeting.

Good Luck !!
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