Charisma has kind of broke below the 0.049 to 0.050 support level on Top 5 volume today that has held since April. Poised for more downside if it does not trade back up within the coming days. Seems like a convincing breakdown of its consolidation phase. More downside likely if buyers at 0.047 get thrown down completely too…..
CFD SELL ENTRY: 0.047 to 0.049
Target: 0.040 then 0.036.
Buy Stop loss: 0.051
Sent: Tuesday, May 20, 2014 12:08 PM
Subject: ******************* Charisma Energy: Consolidating at the moment....... Levels to watch for any KEY Direction movement ?
Subject: ******************* Charisma Energy: Consolidating at the moment....... Levels to watch for any KEY Direction movement ?
Following up from previous POST ON Charisma: http://singaporetradinginsights.blogspot.sg/2014/04/charisma-weakness-seen-over-past-few.html
Charisma Energy has been trading in the range from 0.049 to 0.055 for almost a month already. Bearish head and shoulder pattern still looks dangerous in the midterm and can lead to more downside if immediate support breaks down. A break below 0.049 and 0.048 support levels currently can see it go to 0.040 fast before any temp rebound. Careful. Only the upside breakout above 0.055 will invalidate the bearish scenario, in this case a recovery should shape towards 0.070. Watch this key levels for any major movements.
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