Monday, November 9, 2009

SMRT, ZTE

SMRT
Defensive counter, trading on narrow band, sideways between 1.74 - 1.66. Support at 1.66 is strong and confluence with 50% Fibonachi.   Short term - expect to retrace down.


Weekly trend is bullish !If break resistance @ 46.36 would continue to charge upward.
Daily chart, broke 20d MA is retesting the 20d MA resistance. Doiji appeared last friday suspect to face some resistance at this level.(20d MA). 42.33 would be the target to observe before making the entry.

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