Location: Singapore

A small fish dreaming in a huge pond.
If you have any interesting ideas about the market, gimme a beep!

It is free!

This page is powered by Blogger. Isn't yours?

"The market is a treacherous and fascinating game. I am a player and this is the quiet place i go to pen my thoughts and emotions."

Saturday, June 03, 2006

Chart: My first chart request!

ChartWow! My first chart request is from mininvestor.
Thanks, mininvester! =)

Since this is a recent IPO, there is not enough data to derive meaningful indicators. As we can see, the MAs, bollingers, RSI, etc are still not meaningful. So we work with what is available: the candlesticks, trendlines and formations.
There is nothing special about the candlesticks, although I see hints of a consolidation.
The trend is down.
The most dominant feature of this chart is its formation. The chart has formed a descending wedge formation. This is a bearish formation. When the support of 0.41 is broken downwards, most traders will see this as a shorting opportunity.

My advice is to wait a little long if you want to enter. This is not a good time to enter yet.
Hope this helps!

Technorati Tags: ,

Comments: Post a Comment

Links to this post:

Create a Link

<< Home

In no event will the author of this blog be liable for:
(i) any incidental, consequential, or indirect damages (including, but not limited to, damages for loss of profits, business interruption, loss of programs or information, and the like) arising out of the use of or inability to use the service, or any information, or transactions provided on the service, or downloaded from the service, or any delay of such information or service. Even if the author has been advised of the possibility of such damages, or
(ii) any claim attributable to errors, omissions, or other inaccuracies in the service and/or materials or information downloaded through the service.
By using this blog, you consent to the agreement as specified above.