Monday, April 6, 2015

Breakout Spotted: Wingtai - Next resistance at 2.00, price 1.99

Call issued this morning at 9.59 am, then a further breakout happened, NOW 2.07 !! CAN it clear out first target ?

Sent: Monday, April 06, 2015 9:59 AM
Subject: ******************** Breakout Spotted: Wingtai - Next resistance at 2.00, price 1.99
Wingtai has cleared above the 1.95 resistance level that has held for more than a week today. A bullish rounding bottom pattern spotted with resistance at 1.90 to 1.95 level cleared convincingly. We can expect it to trade higher to 2.08 then 2.25 if it can cross above 2.00 now which is likely as long as it stays above the new 1.94 – 1.95 support level. Can average up on a further breakout and raise stop loss to 1.98 to ride the upside further. MACD indicator still trending upwards firmly with volume above average showing that momentum can continue especially if it stays above the 1.95 support now.

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