12.09.11 DMC COL CMT + BEL wkly

DMC – daily

+ Breakout from symmetrical triangle. MACD buy signal.

– Failed to cross SMA100. Should break rsi60

COL – daily

+ Breakout from ascending triangle. MACD buy signal

– RSI at 70

CMT – daily

+ Breakout from a >1yr downtrend line. Breakout is supported by volume. MACD buy signal.

– 1 Yr resistance on RSI 65-68. Failed to cross above SMA100

BEL – weekly

+ After breaking out of falling wedge, it has completed the flag pattern. Sell at 5.5 if you have but wait for daily retracement if you want to get in.

+ MACD is just about to cross the zero line

+ huge volume on breakout

+ RSI is not yet oversold. More rooms for upside.

PD: If I have available cash this morning, I think I already bought DMC (Test buy). I sold my BEL yesterday to protect my profit but BEL is showing signs of strength. No CMT,COL.

Took profit on BDO when I saw MA sell side is only 0.061.

Still holding PGOLD and LC. Ignore PNX,that’s my long term stock.

2 thoughts on “12.09.11 DMC COL CMT + BEL wkly

    • H2O – We are still clueless on other TA indicators because it was traded just few weeks ago. However, I think this is avoid. Do you see the long red candle on 12/07/2011? That’s is supported by volume. So the selling will continue unless we see a clear reversal pattern

      ORE – This is still consolidating. I have no idea if you are Long term or short term on this. But if you still don’t have, be patient and wait for a momentum breakout before you enter or sell/avoid if it breaksdown.
      Support 3.75-3.80
      Resistance 4.00
      However if you are a position trader, you can enter at the support. Cut if it breaks down.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s