Monday, June 17, 2013

**** Range Trading: Wee Hur. Share price 0.415. (Consolidating sideways - Range trading opportunity)

Wee Hur has been trading sideways from 0.400 to 0.45 for about 3 months since Mar 2013. Immediate support remains at 0.400 which it has held since March 2013. Traders who would like to trade the range can consider longing near the 0.400 level or shorting near 0.45 level. No direction yet as long as it remains in this tight 5 cents range. A break out above 0.45 level can see it test 0.500 quickly and a breakdown of 0.400 support can see sellers taking it down further to 0.37 to 0.34 level. Those trading this range can consider averaging up long position on breakup of 0.45 resistance, or average down short position on breakdown of 0.400 support. 

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