Interra Res has broken below the 0.43 immediate support level which held for about 3 months. Even the 0.415 support in March 2013 was tested and broken down on overall weak market sentiments. Pennies still reeling from 3 designated counters by SGX. Next psychological support at 0.400 currently, this should hold and might see a technical rebound from this level if market strengthen. However, more downside is possible to 0.35 - 0.36 level if it breaks down and sellers take it lower further with 0.395 AND 0.39 being sold off. Lower highs formed since Jan this year from downward sloping line – a slight general 10 months descending triangle formation seen.
Buy stop at 0.43 for Short positions.
No comments:
Post a Comment