Wednesday, November 29, 2006
statschippac's bearish divergence...
This is daily chart of statschippac. As we can see, a bearish divergence is forming and statschippac could have a correction in the next few days. Statschippac has been rising strongly in the past few days and a correction is needed for it to advance in year 2007... What goes up, have to come down...
Sunday, November 26, 2006
STI in danger...
This is daily chart of straits times index. As we can see, the sti hit the upper end of the uptrend channel on Nov 23 and gap down the next trading day. This is bearish for STI as sti could correct to as low as around 2700 if the 'red line' support is broken. STI have enjoyed a 6 month rally and make new high day after day since the May selldown, a correction is needed for sti to have some rest and prepare for the new year rally... history repeat itself...Monday, November 20, 2006
CG Tech's Head & Shoulder?
As expected in the previous post, CG tech follows the direction of the divergence all the way down. Its price hit a low of 40 cents today and then rebounded from there as exactly the 50 day moving average. From the chart above, we can see a potential Head & Shoulder is forming. If CG tech is not able to break the H & S pattern, it is a bad sign...statschippac on fire...
Statschippac rose strongly 3 days in a row from 97 cents to 1.14 after weeks of consolidation between 0.96 and $1. What a bull market for statschippac! However, a gap at around 1.06 could force its price to come down trying to close the gap for the next few days and technical indicators also show that statschippac could pull back to correct the overbought. As I mentioned in the previous post, year end is bullish for tech stocks and from the fundamental we know that tech will be doing well in 1st half of 2007...history repeat itself...
Wednesday, November 08, 2006
statschippac on the rise...
Statschippac is rising steadily within the uptrend channel and its price is above 14,50 and 100 ma. These are bullish sign for statschippac to move up further. Also, money is flowing in as shown in the chart. As tech stock tend to rally at year end, we can park our money in tech stock for this rally.... history repeat itself...CG Tech break down...
CG Tech broke down the uptrend channel today as shown in the daily chart. As expected in the previous post, CG Tech bearish divergence shows that price rally cannot be sustained and price tend to correct in the direction of the divergence. A potential resistance as shown could prevent CG Tech to move up unless it break up the resistance...Sunday, November 05, 2006
UTAC to rise?
UTAC is hovering around at wave 2 support of 0.70 as shown in the chart above. In the previous post, I have mentioned UTAC 0.70 support must hold in order to see more price upside. UTAC will rise again if rebound from 0.70, and if UTAC do rebound from 0.70, the next target price is...Want Free Links?
