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The declining 20dMA suggests a short term downtrend. Price closing at 18.5c for five sessions in a row is bearish but note the volume. It has been thinning as price declined. A low volume pull back? Good for the bulls. The MFI has been forming higher lows and the OBV has declined ever so slightly. Both indicators suggest that there is some underlying support. Again, good for the bulls. So, 18.5c immediate support might hold.
What if 18.5c breaks? Well, the longer term MAs are still rising. The 50dMA should provide some support at 18c in case 18.5c cracks. Unless there is a significant expansion in volume with any selling down, the 100dMA which is currently at 17c is unlikely to be tested as a support in the immediate future.
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Charts in brief: 16 Jul 10 (Part 2).
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4 comments:
hey, thanks for the post =) hope all will work out well @ work for you
Hi Zyvier,
I took half day leave today. Doing some housework. Need a break from work. :)
Hope you make some money from Healthway Medical. ;)
Hi AK71,
Being long time if you remember me....i still visit you but not so much now.....cos not so interested in reits so i just read your thoughts and feelings...anyway I must say that you sounds a little disturb and stressed....I just wanted to say this 2 words....."let go" ...let go whatever that distrub you....once you do that you will be free....
Best Regards,
Roni
Hi Roni,
Thank you for the kind words. I appreciate your concern very much. Yes, you are right about letting go and to be at ease. I will try to do it although it is not so easy sometimes.
Anyway, I just did something pretty out of character today and will blog about it later. I feel happier now. :)
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