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.

Saturday, May 24, 2008

BakerTech 230508

Another typical trading pattern for Baker Tech today which saw it close right on the downtrend support (mid red) and below the long term downtrend support-turned-resistance (mid pink), and also the short term uptrend support (blue).

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Would we see BakerTech trading sideways, like during the 15 - 29 apr period? Or soften further, similar to the 6 - 15 may period?

We would have to see where Baker Tech opens on monday. If it opens below the long term downtrend resistance (mid pink) and breaks the downtrend support (mid red), we most likely would see BakerTech softening further.

If Baker Tech opens and stays above the uptrend resistance (mid green), we might see it trading sideways around the 0.310 level.

For monday :

Support @ 0.304 (mid red), 0.296 (low red), 0.295 (low green), 0.290 (low pink)
Resistance @ 0.310 (blue, mid pink), 0.312 (mid green), 0.315 (pink --), 0.325 (red --)

Good Luck !!
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