Monday, February 22, 2010


Still in an uptrend, above its MAs. Recently worked off its overbought condition:

Resistance zone at 96 to 99c (previous high, as well as from previous year). Clear after than, till $1.17.

What prevents me taking a position?
  • market direction unclear.
  • Ideally I would like to see another peak, so a clearer resistance-trendline (triangle) can be drawn. But this stock has not historically behaved like that.... too jumpy, short consolidation periods.
  • Possibly buy on clearer market direction and 4-red/1-green.
Note, stock quite illiquid, may have to take half position only.

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