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 27, 2008

STX Pan Ocean 270508

What a start to the week for STX Pan Ocean. If you have been following STX Pan Ocean long enough, you would know that such roller-coaster rides are nothing unusual.

STX Pan Ocean started off the week by opening below the long term downtrend support (low red), going on to break the 3.26 support (green ...) and 3.18 support (blue --) before settling down for the day just above the 3.26 support.

Today, STX Pan Ocean completely reversed the downtrend. Opening just below the 3.26 support (green ...) before going on to break long term downtrend resistance (low red) and 3.36 resistance level (blue ...).

If STX Pan Oceans opens tomorrow above the 3.36 neckline (blue ...) we might see it going for another resistance breaking run up again.

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For tomorrow :

Support @ 3.36 (blue ...), 3.30 (low red), 3.26 (green ...), 3.18 (blue --)
Resistance @ 3.406 (low blue), 3.455 (mid red), 3.47 (red --), 3.53 (pink --)

Good Luck !!
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