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.

Wednesday, April 2, 2008

BakerTech 020408

BakerTech today opened above the 0.280 psychological support (green --). Whether the 0.280 level can continue to be the support remains to be seen as the BakerTech's closing price is the same as its opening price, which may indicate selling pressure.

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BakerTech would have to continue to trade within the uptrend channel (purple) and break the downtrend resistance (mid pink) convincingly to really reverse its downtrend.

If BakerTech is unable to break the downtrend resistance (mid pink), we might see it revisiting the 0.260 level.

For tomorrow :

Support @ 0.285 (low purple), 0.280 (upp red, green --), 0.266 (low red), 0.262 (low pink)
Resistance @ 0.291 (mid pink), 0.305 (upp pink), 0.310 (upp purple)

Good Luck !!
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