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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 23, 2006

Chart: Want Want

ChartThis stock is a very volatile and thinly traded one. So trade with care!


I will approach this chart from the viewpoint of patterns and trends.

This stock has been experiencing a lot of gaps over the past months. A pattern has emerged: the gaps will always be covered within a few days. Another pattern is that a short term reversal will occur when the price breaks the 2.0 bollinger and rebounds.

Higher lows indicate the short term trend is still bullish.

My take: a gap down to the 1.4 or 1.36 levels will present a good opportunity to buy. The price may try to test 1.55 again.

I hope this helps!
=)



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