Straits Asia Resources: Getting Ready to Charge

Straits Asia Resources (SAR) has completed the breakout from a Falling Wedge after testing the support at the breakout point (shaded in green) which is also the 50D MA support.  Currently SAR is testing a long term trend of 200D MA resistance at about $2.14. If this resistance is broken and turned to support, SAR is on the way to reach its price target of minimum $2.60.  Falling Wedge in an up trend is a continuation pattern.

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  1. Marubozu

    SAR breakout with conviction!

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