BakerTech 150708

After breaking out on 11 jul, Baker Tech went on to test the 0.290 resistance (red ...) the following day and volume for that day hit 10m. BakerTech could not maintain its uptrend momentum and closed right on the 0.270 support (blue --).

With 10m done on 14 jul, you can expect many people to be 'trapped' above the 0.280 level (green --). Looking at the chart, Baker Tech seems to have difficulty breaking out of the downtrend channel (pink).

We could see Baker Tech trading sideways, at best, along the 0.270 level (blue --). And if it doesn't break the 0.280 level (green --) soon, or if BakerTech slips below the 0.270 level, we could see it test the downtrend support (mid pink).



For tomorrow :

Support @ 0.270 (blue --), 0.262 (mid pink), 0.255 (low red, red --), 0.253 (low pink)
Resistance @ 0.280 (upp pink, green --), 0.290 (red ...), 0.295 (upp red)

Hope you find my analysis helpful. Thank you for your support !!