Goody, more chart requests! Keep 'em coming, guys! =)
I love having to look at charts!
Asiapharm broke out of its declining short term trend with little fanfare last week. MFI trend is still down from more than a month ago. On top of that, a bearish double top was seen last month. However the recent trend for the past 2 weeks seems to be one of consolidation between the resistance of 0.80 and support of 0.75.
My advice would be to stay on the sidelines till a clear breakout enters the picture. If you are more adventurous, you would be inclined to trade the range of 0.75 and 0.80. =)
After its IPO, Luzhou saw months of slow uptrend: long periods of consolidation followed by sudden short up spikes. Then, it broke out upwards rapidly and crashed just as fast to its pre-runup levels. Like Asiapharm, it broke its recent short term downtrend with no sudden activity. I suspect this consolidation will last as long as its previous ones with the range of 0.645 and 0.715.
Come to think of it, my previous chart of Hengxin also saw the start of a consolidation. Perhaps this will be the case for most stocks next week: a range-bound trading week.
I hope you found this useful!
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