The pattern looks familiar (see post on CMT below). This stock is attempting to breakout from what I see as a descending wedge pattern. It is currently taking a pause after its run up two weeks ago. From what I see, it seems that it has formed a pennant, a continuation pattern. MACD is pointing upwards and about to cross the zero line. Looks like a runup is brewing soon.
Monday, February 18, 2008
SINO Takes a Breather Too
The pattern looks familiar (see post on CMT below). This stock is attempting to breakout from what I see as a descending wedge pattern. It is currently taking a pause after its run up two weeks ago. From what I see, it seems that it has formed a pennant, a continuation pattern. MACD is pointing upwards and about to cross the zero line. Looks like a runup is brewing soon.
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