BakerTech 140808

The last time BakerTech hit around the 0.205 level was way back in early april 2007. That was when Baker Tech broke out from around the 0.150 level.

After forming the Gravestone Doji on 12 aug, BakerTech gapped down the next day and broke the 1st downtrend support (mid pink) and 1st long term downtrend support (mid red).

Although BakerTech came to within a whisker of testing the 2nd long term downtrend support (low red), it manage to recover and close the day at the opening price, forming a Dragonfly Doji.

As mentioned before, to confirm a trend reversal, we would need Baker Tech to either gap up tomorrow, or at least close higher.

However, if it breaks the long term downtrend support (low red), we may see it heading for the 0.160 support (pink --), which is from where it broke out back in april 2007.



For tomorrow :

Support @ 0.206 (low pink), 0.203 (low red), 0.160 (pink --)
Resistance @ 0.215, 0.222 (mid red), 0.230 (mid pink), 0.235