BakerTech 060608

After spending almost 2 weeks trading around the 0.305 support line (pink ...), Baker Tech finally broke the downtrend resistance (mid pink), and 0.315 neckline (pink --). BakerTech also broke the uptrend resistance (upp blue).

As usual, Baker Tech could not break the 0.325 resistance (red --) and closed just below it. Will history repeat itself? Or would Baker Tech finally be able to break the 0.325 resistance (red --)?

For BakerTech to have any chance of testing the 0.325 resistance again next week, it would have to continue to trade at least above the 0.315 support (pink --), and/or above the uptrend support (upp blue).



For monday :

Support @ 0.3162 (upp blue), 0.315 (pink --), 0.312 (mid pink), 0.305 (pink ...), 0.3023 (low blue)
Resistance @ 0.325 (red --), 0.3267 (upp pink, low green), 0.330, 0.3388 (upp green), 0.340 (red ...)

Hope you find my analysis helpful. Thank you !!