STX Pan Ocean has now recovered to where it was a week ago, up from a low of 3.10 on 26 may. We also saw STX Pan Ocean breaking the downtrend resistance (mid red), and 3.47 resistance (red --) yesterday (29 may).
However, the rise this week was accompanied by lower volume each day. So it remains to be seen if STX Pan Ocean can maintain trading above the 3.47 level (red --). We might also see STX Pan Ocean trading sideways, between the 3.47 (red --) and 3.53 (pink --) levels.
If STX Pan Oceans breaks the downtrend support (mid red), we could see it testing the 3.36 support (blue ...) again.
For monday :
Support @ 3.47 (red --), 3.44 (low red), 3.427 (mid blue), 3.36 (blue ...), 3.26 (green ...)
Resistance @ 3.53 (pink --), 3.54 (mid red), 3.575 (upp blue), 3.65 (green --), 3.82 (upp red)
Good Luck !!
Saturday, May 31, 2008
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