Maybe it was the plunge in the price of Gold and the slowing down of China's GDP.
Maybe it was the plunge in the price of Gold and the slowing down of China's GDP.
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TA is having a hard time leaving the 23.6% Fibonacci Retracement level. After few tries its now back below the line. Will this stock go back to its support line? Previous price movement showed that 38.2% Fibonacci Retracement level served as a strong support. Maybe a test buy at that level wil give us a good upside.
In case bulls will be able to pull it off, this might reach the highest point easily.
Caveat!
TA can't cross 23.6% Fibonacci Retracement level
From below 0.70 per shaer last January, this stock went up as high as 1.35 before going down. The price action creates a Symmetrical Triangle. This formation is regarded as a continuation pattern. What's happening during this formation is that the market is making lower highs and higher lows. This means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. Although there are times price will go down after the consolidation, there is a tendency SLI may rise since its current trend is uptrend. In case things will not go to our favor, support will be at 61.8% Fibonacci Retracement level based on 1 year time frame.
Caveat!
Symmetrical Triangle on SLI
I don't see positive correlation of Gold vs stocks...may be China's GDP.
However, the way the stock reacted this morning (and recovered in the afternoon), I felt it was more on the reaction from the US market closing price where the sell-off was further accelerated by the bombing in Boston.
Guys did you receive dividends from MPI? wa pa mn gud ko. asa na ideposit sa settlement or sa trading account?
nahitabo na ang placement something something sa AC? katong on or before April 19
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