Chart: WTIC's daily chart as at 17/7/2009 (Source: Stockcharts.com)
Monday, July 20, 2009
WTIC found support at USD60
WTIC has rebounded off its horizontal line support of USD60 last week. However, it is likely to trade in the USD60-70 band for a while (say, for the next 2 weeks) before rising further. One can see that the 20-day SMA will be cutting below the 50-day SMA soon- a mildly negative development. Nevertheless, WTIC is still trading above its rising 100-day SMA and with that I believe the uptrend is still intact. A break above the recent high of USD74 will signal the continuation of the prior uptrend.
Chart: WTIC's daily chart as at 17/7/2009 (Source: Stockcharts.com)
Chart: WTIC's daily chart as at 17/7/2009 (Source: Stockcharts.com)
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3 comments:
Dear Alex,
KLSE rose another 18 points today , still cant confirm up trend yet ? your views please .
Tq.
Hi Okating,
I'll say you are quite persistent. I think your question is being answered by the market loud & clear in the past few days.
Nevertheless, we must be cautious of the strong overhead resistance area for our KLCI at 1140-60. Many other stock markets have come up to their recent high. So, I expect some correction in the days ahead. This correction can be severe given how far the market has traveled in the past 6 trading days.
Dear Alex,
Thanks for yr compliment alex.
KLCI roses above 1,150 , still cant confirm uptrend yet ? still need to wait couple of days somemore ?
If we still need to wait for clearer picture , why you called to buy bjtoto,maybank & HLbank ?
Your explaination is very much appreciated .
Tq
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