Monday, April 15, 2013

Short Term Trading Buy: Innopac. Share price 0.225.

Has been in a clear consolidation phase below the 0.22 resistance level since 4 Feb 2013 ( about 2 and a half months) till last Friday. Has tested this critical 0.22 level and cleared it in the morning today. 0.225 now eating up slowly. If it manages to clear out the 0.225 level, support should remain at the 0.22 level. TOP 2 Volume seen currently on break out. You can see an upside gap of about 3 cents to 0.255 target. A break above 0.26 can see it go to 0.300 in search of new high.
Stop loss at 0.21 nevertheless.
 

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