Thursday, December 15, 2005

StarHub (T54) Still the shinning star?


Any share that trends at a near-vertical angle, straight up into the heights of the blue sky, always concern me. Our Shining Star has shot up “too soon and too fast!”  The law of Physics:”What goes up, must come down!” With trading, often the angle of the uptrend will match the angle of downward correction! Let’s look at the Candlestick Pattern: Woo… 3 black Crows, that’s bearish at its worst signifying continuation of downtrend. I was watching the Volume for the past periods and never like the way it portray. The most fearful scenario:” Fading Volume during Advancing Wave”. What does it means? Those who have been driving the price have finished their accumulation work and the continued rise is being fueled less by true enthusiasts but now rather by come-lately momentum players! Put it in another way: For example, in an uptrend when you see volume drops progressively in a crescendos rally, beware! Reversal is close at hand!
No need to run over the remaining indicators, all look bad to me! Except ADX though down but positively placed and MACD signals lines still considered bullish.
In sum, very bad for near time!. All’s not the end, mid term and long term still remain bullish. How to know: by the MAs still parallel and not crossed down yet. So all yours, it all depends on who you are, your style and your stomach, weak or strong? You know better!

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