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.

Tuesday, February 12, 2008

Lian Beng 120208

Nothing much has changed for Lian Beng since we last discussed on 1 feb. It is still trading within the downtrend channel (pink --).

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However, seeing that the lows over the last few trading days have been higher, I've added a short term uptrend channel (green) to see if Lian Beng can reverse this downtrend.

As you can see from the chart, the uptrend resistance (upp green) meets the downtrend resistance (upp pink) either tomorrow or thursday. Volume has also been somewhat on the low side, suggesting that most of the selling is done. So we might see some action soon.

For tomorrow :

Support @ 0.537 (low green), 0.514 (low pink --), 0.503 (blue)
Resistance @ 0.552 (upp pink), 0.5653 (upp green), 0.5682 (upp pink)

Good Luck !!
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