Thursday, April 13, 2006
Shanghai Asia as requested by Risktaker
An interesting stock that started with a potential cup and handle formation that failed because the handle became too big. It then proceeded to form a mini potential head and shoulder which is too close to the bottom of the base. The volume for both the left shoulder indicated as LS and the head were too low. The volume of the right shoulder RH was very high.Therefore, the formation was invalid. Both RSI and Stochastics are still falling. Immediate support is 19.5 cents. Next support is 19 cents. Immediate resistance is the pink dotted line at 20.5 cents. Will probably trade between 19 cents to 20.5 cents the next few days.
# posted by Cherie : 8:52 AM
