Friday, May 17, 2013

*** Potential Breakout trade: Cordlife. Share price 0.875. (Short term uptrend in placed)

Cordlife has staged a strong uptrend since breaking out above the 0.800 level at the beginning of May. Current support at 0.85 level then 0.825 which was resistance turned support. Might be consolidating from 0.85 to 0.90 level before testing and breaking the critical 0.900 psychological level. Those waiting for this break can considering accumulating around these trading range from 0.85 to 0.90. As long as 0.825 holds as final support, uptrend still intact in the short term. A break above 0.900 can see it test 1.00 quickly. We would average up on this break out.
P.S  -  Those who have followed our Call made on 22 Jan 2013 when it was 0.615 then would have achieve more than 40% return on capital.
Stop loss at 0.795.

No comments:

Post a Comment