Jaya Holding closed today at $0.495 with a opening marubozu candle with a spike in volume and breaks out from a Symmetrical Triangle. However, it remain to be seen whether this is a successful breakout due to the past 3 attempts. One thing to note that the spike in volume in diminishing compares to the previos one, and this is not a sign for a bullish & sustainable breakout. The past three spikes in the stock price were not sustainable due to lack of volume for the next few days. If this breakout is successful, the price target is $0.58.
- Post author:Marubozu
- Post published:December 15, 2009
- Post category:Jaya Holding
- Post comments:0 Comments