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, March 16, 2008

SPC 140308

SPC broke the 6.66 support level on 13 mar. It closed right on the downtrend support (upp red) on 14 mar.

Photobucket (Please note that the volume is wrongly indicated)

I've adjusted the uptrend support (low blue --) to match the lows on 24 jan and 14 mar. If SPC trades within this uptrend channel, we might see it test the 7.50 level again.

However, if SPC breaks this support (upp red), it might trade within the downtrend channel (red) and test the 6.00 level.

For monday :

Support @ 6.57 (upp red), 6.35 (mid red), 6.02 (low red)
Resistance @ 6.66 (low blue --, light blue ...), 7.11 (upp blue --)

Good Luck !!
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