Sunday, October 22, 2006
CG Tech's bearish divergence...
CG tech recent run-up cannot be sustained as technical indicator is showing a bearish divergence. CCI is pointing down, and money flow indicator shows that money is pulling out of CG tech. On the other hand, stochastic and RSI are in the overbought region, they are due for pointing down in the near future...
Saturday, October 14, 2006
statschippac is rising...
statschippac break up from the short-term downtrend channel on oct 11 and it is on its way up. As expected in the previous post, statschippac hold the wave 2 support and rebounded. As we can see from the chart, technical indicator are all pointing up and from elliot wave count it could be in wave 3. Enjoy the ride...Sunday, October 08, 2006
SPC the abandoned black gold...
SPC has been keeping on dropping since mid-May from a high of around $6 to Oct 6 closing of 4.72. As the oil bubble burst, SPC of which is oil-related stock cannot avoid the selling. From the chart, we can see that SPC is in a downtrend channel and has not been able to break up from it. As the oil monies move away and go to other sector, will SPC has another day of glory?CG Tech to pullback?
This is daily chart of CG Tech. As we can see from the chart, CG Tech is at the upper end of the uptrend channel and all the technical indicator CCI, stochastic and RSI are in overbought region. A pullback could bring CG Tech down to the lower end of the uptrend channel if it not able to break up from the channel next week...where is UTAC heading?
UTAC is in a downtrend channel and has not been able to break up from it. The resistance for utac is its downtrend channel and 20 day ma right now. IT has to break up from the resistance to see more price upside. If utac is not able to break up from its resistance next week, the support could be at wave 2 of around 70 cents. If 70 cents hold, then.....
sarin the beaten stock...
This is daily chart of Sarin Technologies. As we can see from the chart, sarin is in a downtrend channel. it has to break up from this downtrend channel to have more price upside. The immediate resistance for sarin is its downtrend channel and 20 day ma at around 53 cents. From the indicator, CCI, stochastic and RSI are in oversold region and pointing up. The changes of sarin breaking up from the resistance is high. If sarin does break up, the next resistance is.....
Tuesday, October 03, 2006
Chartered in wave 3 soon ?
This is daily chart of Chartered. As we can see, chartered could be doing a wave 2 down. The support for w2 is around 1.13 and if 1.13 hold, we could see chartered riding the w3 up. On the other hand, technical indicator CCI, stochastic and RSI are in oversold region. The chances of 1.13 support being hold is high...
statschippac update...
Statschippac has been in wave 4 for couples of weeks and it is trending sideway between 0.96 to 1.04. But unfortunately, wave 4 support of 0.96 is broken today. As wave 4 support is broken, we are no longer in wave 4. Statschippac could be in wave 2 now and is heading towards .618 correction at 0.92... Wave 4 to wave 5 trade is dangerous as when wave 4 support is broken, W4 will become W2, and W2 correct more than W4. We have to monitor closely when trading W4 and get ready to cut loss when W4 support is broken...
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