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, August 10, 2008

SPC 080808

After hitting the 7.10 neckline (blue --) and downtrend resistance (upp pink) on 15 jul, SPC has softened considerably and has now broken the 6.40 support (green ...). From the chart, we can also see that SPC has formed the Head & Shoulders formation.

Taking the peak of 8.25 on 21 apr, we calculated the diffrence with the 7.10 neckline to be 1.15. So we might be looking at SPC to hit a low of about 5.95 (7.10 - 1.15), or thereabouts.

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For monday :

Support @ 6.06 (low blue, low red), 6.00 (low pink)
Resistance @ 6.153 (mid pink), 6.264 (mid red), 6.29 (green --), 6.40 (green ...), 6.475 (upp blue)
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