Allgreen has been trading within a tight range from $1.00 to $1.20 for the past 5 months. No big price movement is expected until the breakout. Also take note that 200D MA, a long term trend, is trending down. $1.14 is the important level to watch as this level is the 50D and 200D MA support. If Allgreen stays below the 3 Moving Averages, the chart pattern is bearish.
Allgreen: Trading with a Tight Range
- Post author:Marubozu
- Post published:November 2, 2010
- Post category:Allgreen
- Post comments:0 Comments