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.

Saturday, August 30, 2008

BakerTech 290808

After almost testing the long term downtrend support (low red) on 26 aug, Bakertech seems to have found temporary support at the 0.175 level. Baker Tech also traded above the downtrend resistance (upp pink) today.

However, volume is still quite low so we could still see BakerTech trading sideways. If Baker Tech can continue to trade above the uptrend support (blue) next week, we could see some action towards the end of the week when the 1st long term downtrend resistance (mid red) meets the uptrend support (blue).

Short-term resistance based on volume distribution looks to be around the 0.190 level (red ...).

Photobucket

For monday :

Support @ 0.175 (blue), 0.167 (upp pink), 0.160 (pink --), 0.1585 (low red)
Resistance @ 0.190 (red ...), 0.192 (mid red)
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)