Shares & Derivatives
Stock Chart: Straits Asia, SembMar!
By Dou  •  February 8, 2011

On Tuesday, Straits Asia re-tests its $2.59 support and closed at $2.60 with regular volume of 8.04 million shares traded.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Straits Asia: $2.70

Immediate Support of Straits Asia: $2.59

Currently prices are supported by 50 days MA at $2.59 but resisted by 20 days MA at $2.70

From the chart, we could see that Straits Asia remains bullish as it trend upwards on the rising trend line.

For the past weeks, prices are squeezed between the resistance of $2.70 and support at $2.59.

The outcome of the consolidation is yet to known but we can assume that Straits Asia ...

...
Read the full article
By Dou
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance