Shares & Derivatives
Stock Chart: Swiber, Yangzijiang!
By Dou  •  December 10, 2010

On Friday, Swiber retest the support at $1.01 and closed at $1.02 with regular volume of 3.71 million shares traded.

A black candle stick with lower shadow indicates profit taking but the support managed to hold back the selling pressure.

RSI & MACD are bullish as MACD lines just perform a “golden cross” recently.

Immediate Resistance of Swiber: $1.04

Immediate Support of Swiber: $1.01

Currently prices are supported by 20 days MA and resisted by 50/100/200 days MA.

On 9/Dec, Swiber managed to break the critical resistance at $1.01 with high volume which could signal a reversal from the falling trend lines.

Although profit taking occurred today due to China tightening policies, but it may be a good time to buy Swiber at $1.01 if interested since the resistance turned support at $1.01 is expected to be very strong.

On Friday, Yangzijiang ...

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By Dou

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