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THiS iS back tO sQuare One S$0.320 when Dual Listing was annOunced.
iT shOt UP frOm S$0.320 tO S$0.405.
after the hOng kOng LiSTiNG, iT drOpped dOwn frOm S$0.405 tO S$0.320.
The KEY QuestiOn iS, "WiLL iT shOOt UP AGAiN tO S$0.405?"
CHECK WiTH Technical Analysis.
Seems like reaching support soon at $0.32. Consider that a big drop from $0.405 (about 18.5% down), the day it was listed on HK stock exchange.
Wonder why it keeps dropping everyday when there is no bad news whatsoever.....
pharoah88 ( Date: 08-Mar-2010 15:53) Posted:
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z-Obee has nO steam nOw
Z-Obee Doji Testing Sloping Support of Potential Ascending Triangle
Doji testing red ascending triangle support and light blue support zone. A successful rebound to confirm the ascending triangle pattern will need to clear the following resistances
1. Immediate resistance formed by the intersection of the upper boundary of the blue channel and the lower boundary of the green channel
2. Resistance zone at 35.5 to 36
3. Lavender resistance area
4. Orange resistance region
5. Green resistance territory
6. Horizontal resistance of red potential ascending triangle . A breakout above this resistance confirms the triangle formation and will probably see an attempt to climb higher.
Conversely, if the flushing of the weak contra traders is not support by strong buying interest expect retests of the following supports
1. Immediate sloping triangle support
2. Light blue support zone
3. Pink support belt
4. Ichomoku kumo support cloud
5. Lower boundary of blue channel
View chart at http://tactcharts.blogspot.com/2010/03/z-obee-doji-testing-sloping-support-of.html