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.

Thursday, May 15, 2008

BakerTech 150508

BakerTech today tested the long term downtrend support (low red), before recovering to close just below the long term downtrend resistance (upp red).

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From the volume distribution bars, we can see that the 0.305 and 0.310 has quite a big block for Baker Tech to overcome. Once BakerTech clears 0.310, I believe the next resistance would be at the 0.325 level (red --).

However, if Baker Tech breaks the long term downtrend support (low red), we might see it testing the 0.280 support level (green --).

For tomorrow :

Support @ 0.293 (low pink), 0.2888 (low green, low red), 0.280 (green --)
Resistance 0.300 (upp red), 0.305 (mid green), 0.310, 0.315, 0.325 (red --)

Good Luck !!
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