Friday, April 2, 2010

C

Trend     : Uptrend but recent retracement also displayed obvious bearish divergence.
Candles  : Black candle rested on 20d MA as support. Weekly candle close with dark cloud is bearish.
MA        : 20d MA bullish crossover 50d, and 100d. 50d and 100d  appeared flat.
Indicators:
                Weekly Macd historogram 10G, potentally face retracement pressure.
                 RSI and Stochastic are pointing down. Further downward movement expected.
                 Bollinger - break below 20d would see the price sliding down toward lower band ~ 3.7 at 100d Ma support and 3.5 at 50d MA support.

Conclusion :
   Sell !

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