Wednesday, July 25, 2007

Back from holiday trip

Market sentiments aside which is not looking healthy though, just some charts to keep for future reference

Allcoreit : Spotted these a few days ago but never really scrutinize closely and i was too "chart-formation crazy" that time to have tink it will bounce off around that area. A lot of factors to suggest support area of $1.11.

1. $1.11 was support for previous 2 occasions
2. $1.11 was close to the approximate objective when u minus the height of the head of the "head and shoulders" formation from the neckline
3. It broke the 200d MA before gaping up above it with strong volume.



ChinaPetro : Forming a ascending triangle if u consider only $0.565 and a symmetrical triangle if considering $0.595. It's interesting to me cos the price now happens to lie on a support trendline which was tested at least twice and near the 3 MAs. Noted that the 50d and 100d EMA crossed the 200d EMA a few days back. Seems to be well-supported now.



Gen Int: Break of descending triangle. Price attempted to climb above $0.925 but failed on a few occasions. Seems to be supported on the 100d EMA now.

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