MIIF: Very high volume up day.

MIIF had a very high volume up day, forming an impressive white candle to close at 52.5c. In the last 12 months, the only time volume was higher was in October 2009.  MACD histogram has a buy signal as momentum oscillators turned sharply upwards. Immediate support is a band between 49.5c to 50c.  Drawing an uptrend support from the low of 44.5c hit on 7 Jun approximates the position of the 20dMA which establishes this MA as an important support to watch. Any upside targets? Using Fibo lines, 138.2% approximates a many times tested candlestick resistance at 55c.  So, I expect this to be a strong resistance.  If this is taken out, we could see price go higher to 56.5c, the 161.8% Fibo line.

MIIF +5.1%; Under pressure to return cash: BGC Partners
Tuesday, 13 July 2010

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SPH: BUY calls aplenty.

SPH: A slew of BUY calls from brokerages on the back of sterling results for 3Q10 sent the share price of SPH higher today. $3.95 resistance is now support. Up channel resistance has been broken. MFI and RSI continue their upward trends.  OBV shows continuing accumulation. Sell signal on the MACD histogram negated. Volume more than doubled as price touched a high of $4.00 today and closed 5c higher than the previous session at $3.98. Same question: $4.08? Looking more probable now. Punters who are considering a punt could possibly have an ideal entry point at $3.95 if this support is tested again.

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Charts in brief: 12 Jul 10.