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

Uni Asia Finance 300508

It has been 2 months since I last talked about Uni Asia Finance. Let's take a look at what has happened to Uni Asia Finance since.

Ever since hitting a peak of 0.860 on 24 apr, it has been downtrend for Uni Asia Finance, culminating with the formation of a Gravestone Doji on 22 may. The next day saw Uni Asia Finance breaking the downtrend support (mid red).

Uni Asia Finance even broke the 0.720 support (pink --) on the beginning of the week (26 may). The next support for Uni Asia Finance, based on volume distribution, looks to be around the 0.675 - 0.680 region (blue --).

If Uni Asia Finance breaks this support (blue --), we might see it testing the long term downtrend support (low pink) at the 0.645 level.

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For monday :

Support @ 0.675 (low blue, blue --), 0.670 (low red), 0.645 (low pink)
Resistance @ 0.720 (mid red, pink --), 0.730 (upp pink), 0.745 (upp blue), 0.775 (red --)

Good Luck !!
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