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.

Tuesday, May 13, 2008

BakerTech 130508

Baker Tech formed a Dragonfly Doji today. As the trend prior to today was a downtrend, the Dragonfly Doji could indicate a reversal.

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Much would depend on whether BakerTech can open above the uptrend support (low blue), or at least close above today's 0.310 closing price.

You can see that the pattern over the last few trading days are similar to the pattern from 12 - 19 mar. We could still see Baker Tech testing the long term downtrend support (upp red) if it breaks the uptrend support (low blue, mid green).

For tomorrow :

Support @ 0.3088 (low blue), 0.3075 (mid green), 0.302 (upp red), 0.291 (low red)
Resistance @ 0.315 (pink --), 0.318 (upp blue), 0.322 (upp green), 0.325 (red --)

Good Luck !!
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