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.

Sunday, June 1, 2008

Ferro China 300508

Nothing much has changed for Ferro China since 28 may as it is still unable to break the long term downtrend resistance (mid pink). However, FerroChina looks to have found temporary support around the 1.50 - 1.52 region (light blue --).

The next support for Ferro China, based on volume distriubtion, looks to be around the 1.47 level. After that, the next support would be 1.44 (red ...).

For FerroChina to have any chance of a rebound, it would first have to break the 1.55 resistance (blue --).

Photobucket

For monday :

Support @ 1.52 (mid red, light blue --), 1.47 (low red), 1.44 (low pink, red ...)
Resistance @ 1.528 (low blue, mid pink), 1.55 (blue --), 1.627 (upp blue), 1.637 (upp pink), 1.672 (upp red)

Good Luck !!
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