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, September 20, 2008

BakerTech 190908

After breaking the 0.160 neckline (pink --) on 12 sep, Baker Tech went into a free fall, hitting the long term downtrend support (low red) and downtrend support (low pink) yesterday, 18 sep.

Things took a dramatic turn today, when BakerTech opened right on the 1st downtrend resistance (mid pink), before rallying to close above the long term downtrend resistance (mid red) and downtrend resistance (upp pink).

Would Baker Tech be able to continue its rally and recover above the 0.160 neckline (pink --)? That would depend on whether BakerTech can maintain trading above the long term downtrend support (mid red) and downtrend support (upp pink).

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For monday :

Support @ 0.145 (mid red, upp pink), 0.121 (mid pink), 0.097 (low red), 0.0915 (low pink)
Resistance @ 0.160 (pink --), 0.168 (red --), 0.190 (red ...)
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