STX Pan Ocean 250408

Not only did STX Pan Ocean break the 3.34 resistance (pink --) on 21 apr, it also broke the uptrend resistance (upp blue).

STX Pan Ocean also broke the 3.62 resistance (green --) on 23 apr, and seems to have some temporary support at that level too.

The volume during the break out from 3.34 this week wasn't high compared to the dramatic rise at the beginning of the year. So we might see some profit taking for STX Pan Ocean this week.

If STX Pan Ocean fails to hold onto the 3.62 support, we might see it dropping back into the blue channel, with support probably around the 3.50 level.

If STX Pan Ocean trade sideways, keeping above the 3.62 support at the same time, we could see it testing the long term downtrend resistance (upp red) next week, or the week after.



For monday :

Support @ 3.62 (green --), 3.58 (low green), 3.52 (upp blue), 3.48 (low red), 3.34 (pink --)
Resistance @ 3.83 (upp red), 3.87 (upp green), 3.98

Good Luck !!