Tuesday, October 2, 2007

Comrades not moving

Today, all the china stocks did not continue yesterday's rally. I saw a lot of dark cloud covers for the china stocks so they should be trending sideways or downwards in the short term. Dow Jones broke the prior resistance of 14026 with quite heavy volume. The movement of Dow Jones has been diverging from that of the Straits Times Index so but i will just post the chart up for reference.

Dow Jones Industrial Average Chart:


Below are some charts which i tink are ripe for a trade entry based on technical analysis only.

HLG broke out of it's ascending triangle with high volume. With RSI still not in the overbought region, this seems like a great point for a trade entry.

HLG Chart:


The construction sector seems to be rallying. Below are some of the charts that are related.

Koh Bros is having a breakout of the ascending triangle. But the price seems to go too far for a trade entry perhaps.

Koh Bros Chart:


CSC is showing an healthy uptrend with an increasing price action and expanding volume.

CSC Chart:

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