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"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."

Wednesday, August 02, 2006

Chart: (Keep 'em coming!) Longcheer.

ChartNeed a second opinion on a chart? Clueless about Technical Analysis? Already did your due diligence on a stock but know peanuts about the timing? YES! You have come to the right place. Learn and compare notes by ASKING me questions or REQUESTING for a chart. I am not expert but I will try to help because I love to learn about the market like you. =P

Niversphere, fellow blogger and fundamentals investor, requested for a chart on Longcheer.

Recently, it rebounded off the 0.695 support and its downtrend line with great fervor. It is bullish in my opinion. But just today it exhibited a bearish evening star plus a slight overdeviation on the upper bollinger. The trader instinct says it is potential short opportunity(gotta check if Phillips CFD has this on the list... =P).

If you are waiting to buy, I suggest waiting for a few more days. I expect a small technical decline the next few days and then a continuation in the uptrend.

As always, I could be wrong. So keep your cutlosses in place, be it for your long or short positions.

Hope this helps and keep the requests coming(so I have content to fill)!!!


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