BakerTech 090508

BakerTech couldn't maintain its uptrend momentum and slipped below the 0.315 support (pink --) today. This pattern is quite usual for Baker Tech everytime it hits a peak.



Ever since 20 mar when it started its uptrend, BakerTech's consolidation levels have been higher. So, we might see Baker Tech consolidating around the 0.305 level, since that's where the volume is highest, according to the volume distribution.

If BakerTech can trade above the uptrend support (mid green) for next week, there's a good chance we might see it testing the 0.325 resistance (red --).

However, if the uptrend support (mid green) breaks, we would probably see Baker Tech testing the 0.295 level.

For monday :

Support @ 0.310 (low blue), 0.305 (mid green), 0.304 (upp red), 0.292 (low red), 0.284 (low green), 0.280 (green --)

Resistance @ 0.315 (pink --), 0.325 (upp blue, red --), 0.331 (upp green), 0.340 (red ...)

Good Luck !!