Jaya had a false breakout (due to lack of volume) and moved back to the consolidation phase again. The stock price is testing the 20D MA support line now and all other technical indicators are not showing any bullish signal. One thing to watch out whether the stock price can hold above the 20D MA support line. If it breaks this support line, I need to check Parabolic SAR & MACD to confirm whether it is a reversal of the trend.
- Post author:Marubozu
- Post published:September 15, 2009
- Post category:Jaya Holding
- Post comments:0 Comments
Tags: False Breakout