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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.
at

2 comments:

  1. AnonymousThursday, December 22, 2011 11:17:00 PM

    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.

    ReplyDelete
  2. SgTraderFriday, December 23, 2011 12:33:00 AM

    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.

    ReplyDelete

Thanks For Your Insightful Comments!