Tuesday, September 17, 2013

******* Monitor For Breakout: Dukang. Share price 0.485. (Likely consolidation before more confirmation in direction)

Dukang is likely to consolidated from 0.47 to 0.50 in the coming days since it broke above the 0.47 resistance last Friday. Has attempted to break above the Critical 0.500 yesterday but to no avail. Current high today is at 0.500 also. As long 0.47 stays as new support level, can still be a positive for a rebound back up to the 0.600 level. A break above 0.500 can see it go to 0.55 to 0.56. Note that it has also broke above the channel resistance level (Downward sloping line) and also convincingly above the 20 DAY MA (Green line) which can signal more short term upward momentum. Aggressive traders can consider averaging up at 0.505 to 0.51 if the 0.51 clears out and take profit from 0.54 to 0.56.
Stop loss at 0.46.
News – 28 August 2013

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