Ezra may be going to announce its earning next week. Will this be a potential catalyst for the share price to go further up or a case of selling into strength? After all, from 5 Jun 2012 till 2 Jul 2012, it has reported a price appreciation of almost 23%
As shown on the chart, on 2 Jul 2012, it closed at 1.090, slightly above its previous high of 1.085.
Given the recent hype in the market, it may be undemanding for the price to close gap around 1.13 - 1.14.
However, being prudent and perhaps overly cautious, i guess one may just wait to see if the closing above previous high of 1.085 is sustainable or not? A pullback to 1.02 - 1.05 looks reasonable, perhaps followed by a inverse head-and shoulder formation.
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