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.

Tuesday, August 5, 2008

BakerTech 050808

Since the last time we analyse BakerTech on 17 jul, it continues to trade within the downtrend. However, Baker Tech formed a Bullish Dragonfly Doji today, which usually occurs at the bottom of a trend, or during a downtrend, which is what is happening to BakerTech currently. BakerTech also hit the 0.255 support (red --).

Don't get too excited. We would need a confirmation tomorrow to confirm a trend reversal. Ideally, we would need Baker Tech to gap up and break the downtrend resistance (upp pink). If not, at least close higher than today's closing price (0.260).

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For tomorrow :

Support @ 0.255 (red --), 0.2525 (low blue), 0.250 (low pink)
Resistance @ 0.262 (upp pink), 0.267 (upp blue), 0.270 (blue --), 0.280 (upp red, green --)
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