Major support is 97.5c, which is above its 20ma and 50ma as well. The chart looks nice, good entry point will be at 97.5c to 98.5c.
Thursday, December 22, 2011
ChinaAoil
A dimond in the rough? ChinaAoil ( CAO) has broken its long term downtrend line (blue line, see below chart.)
Major support is 97.5c, which is above its 20ma and 50ma as well. The chart looks nice, good entry point will be at 97.5c to 98.5c.
Major support is 97.5c, which is above its 20ma and 50ma as well. The chart looks nice, good entry point will be at 97.5c to 98.5c.
Labels:
Long Candidates(Sg),
SG Mkt
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2 comments:
I don't think this is a long candidate. The weekly trend is still down, and today daily chart MACD give crossover sell signal.
Just my humble opinion.
if we use higher high, higher low and vise versa concept to determine trend, the uptrend has yet confirmed.
MACD cross is lagging indicator. Anyway, I'm glad someone can talk with me here...it's has been long time nobody comment here. Most are passive readers. Thank you and I hope you are right.
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