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Monday 7 May 2012

some updates as requested by friends

 F&N. I sold out my position at 7.11 and it went to close 7.17 on Wednesday. However, the candle on Thursday and Friday look toppish but they are low in volume which makes it slightly more unreliable. $7 will be crucial. A close below it will it test supports at the rising MA lines with stronger support at 6.85. First support is around 6.95 after break.

UOB: Based on daily chart, it seems to have turned down. Weekly chart candle looks toppish which requires confirmation. I was told XD is today (Monday) of 40c and with a gap down of 40c, it will open at 18.60 which  happens to be the 20MA line. The dvd will throw my charts off, so trade carefully. 

Mid term wise, it still is bullish with first support around 18.26. Trade safe

SSE looks like an inverted head and shoulders. Wonder if it will really form or will it be a false breakup...


Dow Jones is at 20ma support. If 13000 can't hold, next support around 12800 which happens also to be the 100ma line. If it is a double top breakdown, ie break 12700... we are seeing a potential drop to 12100-12200 where 200MA is.

Other news: Hollande just won the French election. Wonder if the market has already factored this in as suggested by some analysts.

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