Monday, September 04, 2006

STI tangoes investors!

We had a gap at 2520 and I thought that will be a resistance to watch out for. Now that we have closed around here, it's really nervous! Hang Seng broke key resistance and looks good to continue to lead the global markets. We shall see if this is a tiger head and snake tail kind of rally...keke

Fungchoi on the weekly chart. I will be waiting for a candlesticks reversal pattern by Friday.

I got into celestial today at breakout to 1.63 where the stock promptly retraced to 1.61 where I bought my lots. Finally it was great that it closed at a breakout volume and price breakout of consolidations. I sure hope this run up will continue. First barrier at 1.70 for now. A pull back may happen due to profit take, the volume on the pull back is important to determine if it is a fake breakout.

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