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.

Saturday, January 12, 2008

BakerTech 110108

As we have discussed on 9 jan, Baker Tech looks to be trading within the downtrend channel (light blue) for the time being.

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Baker Tech touched the lowest uptrend support (blue dashed) today, before recovering to close just on the 2nd lowest uptrend support (blue dotted). I've also added a parallel downtrend resistance (upper pink), and you can see that Baker Tech's day low also touched this trend line.

From the chart, you can see that this downtrend resistance (upper pink) meets the other downtrend support (lower light blue) @ about 0.340 on 18 jan. If Baker Tech continues on this downtrend, you may want to keep an eye on this date.

For monday :

Support @ 0.360 (blue dashed), 0.3414 (upper pink), 0.345 (lower light blue)
Resistance @ 0.367 (upper light blue, blue dotted), 0.3775 (lower blue), 0.380

Good Luck !!
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