Tuesday, September 3, 2013

****** Trading BUY: Rowsley. Share price 0.555. ( Target to 0.600 first)

Following up from Buy call made yesterday. Rowsley has traded higher on strong volume yesterday and today currently at TOP 3 volume. Support should remain at 0.54 to 0.55 region and upside potential can still be in placed if it stays above this support. Near term target to 0.600 first. A break above 0.600 can see it trade higher to find a new consolidation phase. From a past 8 months perspective, we can see from the chart that Rowsley has broken up above the Symmetrical triangle consolidation phase also and above the downward sloping line. A break above 0.500 psychological resistance yesterday has further confirmed the upward strength.
Stop loss at 0.535

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