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 22, 2008

STX Pan Ocean 220508

After hitting a high of 4.00 on 20 may, STX Pan Ocean gapped down during the last 2 trading days. Yesterday, STX Pan Ocean broke the uptrend resistance (upp blue). Today, it broke the uptrend support (low blue).

STX Pan Ocean also came very close to testing the long term downtrend support (mid red). STX Pan Ocean closed on the 3.53 volume support (pink --).

If STX Pan Ocean breaks the 3.53 support (pink --) again tomorrow, the next support would be around 3.47, based on the volume distribution.

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For tomorrow :

Support @ 3.47, 3.46 (low red), 3.36
Resistance @ 3.55, 3.58, 3.63, 3.65 (green --), 3.69 (low blue)
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