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 31, 2008

STX Pan Ocean 300508

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.

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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 !!
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