Straits Asia Resources (SAR) has hit the target price of $2.60 after the breakout (see past analysis). SAR is still on up trend but closing in 52 weeks high.
Let see whether SAR can break this $2.74 resistance.
Sorry for not posting for the past few days and my late reply as I am just back from my short holidays in Hong Kong. I bought a very interesting investment book (Traditional Chinese) at Hong Kong International Airport and I like the short notes on the Investing & Trading Rules and Philosophy at the end of each chapter. I am starting to compile those rules & philosophy as and when I find it useful. I will share my compilation with everyone and will put under the Categories “Rules & Philosophy” starting from Dec 1st, 2010. Hope everyone will find it useful.
DRYS has just broken all 3 Moving Averages resistance lines in the month of Nov. Current chart pattern looks bullish with 20D MA rising very fast to crossover 200D MA soon. As long as DRYS stays above the 200D MA support of about $4.90, DRYS will probably start a nice bull run from now onwards. Note that DRYS has a tendancy to go on Parabolic Curve bull run base on the past chart pattern. Sit tight and hope everyone can enjoy this nice ride! Check out the historical high of DRYS and your eyes will pop out!
