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.

Sunday, January 20, 2008

STX Pan Ocean 180108

Ever since breaking the long term uptrend support on 15 jan, STX Pan Ocean has found it difficult to trade on the upper side of the support. It is currently trading within the downtrend channel (red - -).

Photobucket

Although STX Pan Ocean managed to close above the short term downtrend channel (pink - -), it remains to be seen whether it has the momentum to break out of the longer downtrend channel (red - -). We may even see this happening on 22 jan when the downtrend resistance (upp red - -) meets the long term uptrend support (green).

It may still be a long way from breaking out of the long term downtrend channel (red).

For monday :

Support @ 2.489 (upp pink), 2.373 (low red), 2.18 (low red - -)
Resistance @ 2.659 (green), 2.703 (upp red - -)

Good Luck !!
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)