Z-Obee   

Nice Rebound From Triangle Support

good move, compare to HK px, it has to be above 0.4

 

Over value as in current price level and general market position. I start taking profit!

tact888      ( Date: 10-Mar-2010 19:41) Posted: Z-Obee Potential Ascending Triangle Sloping Support Rebound Rebound from sloping support of red potential ascending triangle. Advance was halted by the lavender resistance zone and the upper dual resistance band of the blue channel. Further climb must surmount both these 2 barriers and punch through both the orange and green territories. A breakout above the red horizontal resistance confirms the ascending triangle pattern. Immediate support zone 36 to 35 and next support is the light blue support area. A retest of the pink support region will most probably negate the ascending triangle formation although technically there is a possibility of an even larger triangle. A breakdown below the pink support will confirm the double top formed by the peaks on 25th Jan 2010 and 1st Mar 2010. View chart at http://tactcharts.blogspot.com/2010/03/z-obee-potential-ascending-triangle.html

 

Z-Obee Potential Ascending Triangle Sloping Support Rebound

Rebound from sloping support of red potential ascending triangle. Advance was halted by the lavender resistance zone and the upper dual resistance band of the blue channel. Further climb must surmount both these 2 barriers and punch through both the orange and green territories. A breakout above the red horizontal resistance confirms the ascending triangle pattern.

Immediate support zone 36 to 35 and next support is the light blue support area. A retest of the pink support region will most probably negate the ascending triangle formation although technically there is a possibility of an even larger triangle. A breakdown below the pink support will confirm the double top formed by the peaks on 25th Jan 2010 and 1st Mar 2010.

View chart at http://tactcharts.blogspot.com/2010/03/z-obee-potential-ascending-triangle.html