Healthway Medical: Climbing upwards

Healthway Medical astounds market watchers today by climbing higher, closing at 17.5c, forming a white candle with a wickless top in the process. This candle is reminiscent of the candle formed two sessions ago. Volume is very high as investors seemingly could not get enough of the stock. MFI shows strong buying momentum and moved higher up into overbought territory. OBV shows sharp and continuing accumulation. In extremely bullish scenarios, a stock could stay overbought for a long time. Closing above 17c resistance today is a bullish signal. We need to wait for confirmation the next session to see if the price will move higher to test the next resistance level which I've identified as 19.5c previously. However, I prefer to err on the side of caution and I've divested another 15% of my position at 16.5c and 17c today.

Crude Oil: US$100 by mid 2010

More affirmation for Darryl Guppy's expectation of US$100 for crude oil through his TA - “As far as current demand trend shows, we will not be wrong to expect the price to rise as high $100 by mid 2010. We are not only seeing a better crude demand but also a better demand for the refined products,” said a Dubai-based trader. Dubai based traders reiterated that they expect the bull run to continue this year.

The comment comes in tandem with the views of Barclays Capital which said that crude demand will rise to a high of $100 a barrel this year, but will average at about $85 a barrel.Oil prices expected to hit $100 in 2010 say Dubai traders

What do we do? Well, this is good news for crude palm oil (CPO). Consider this: Crude oil: Update