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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 9, 2008

Ferro China 090408

We did see Ferro China test the 1.44 neckline this week (on 7 apr). However, there wasn't enough volume, and there was also no follow through the next few days.

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Ferro China closed below the uptrend support (low light blue) yesterday, and it traded entirely below this support today.

Ferro China could trade within the downtrend channel (pink --) for awhile. The next support I'm looking at is around the 1.31 level (blue --). Ferro China may first have to test this support before attempting to break the 1.44 neckline again.

For tomorrow :

Support @ 1.32 (mid pink --), 1.31 (blue --), 1.30 (low green), 1.25 (low pink --)
Resistance @ 1.364 (mid green), 1.378 (upp pink --), 1.432 (low light blue), 1.44 (red ...)

Good Luck !!
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