5 Aug 2011

Daily Charts 5/8/2011

CEL
finally the gap at 9.7c is filled now, and it won't take long to fill the upside gap.
looking at today's candlestick it's low was on the downtrend line (it's important to stay above it, imo)
for the sto. look for the rebound from the trendline for the recovery sign.

CGM
It has been sold down on low volume in last two days and it's at the long term downtrend line now. I think it should stay above the downtrend line but needs the confirmation on Monday, if it drop below it the next support should be low 5's. 
Note: the indicators are showing bearish sign, so if the market is down again next week it's likely to drop a bit further.

JKA

LCY Weekly

LCY
Legacy Iron (LCY) is the best performing stock today and this week, it opened near daily low and bounced off the lower pitchfork (also fib level) quickly and  finish above the uptrend line. On the weekly chart it has broken the critical price level 14.5c this week and managed to stay at or above it.


MGK

MHM
If it's not because of the market it's unlikely we see MHM in today's price. I think most of the selling today are from the panic holders who saw the market is down heavily so they followed the trend and sold off all or most of their shares and this gives us a good opportunity to topped up or buy in. Looking forward to see the 95c gap fill next week.

ORD

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