Monday, February 27, 2006

Asia Power as Requested


From the Guppy Chart, there is nothing that can stop the up momentum. However, on scrutiny at the ADX (5 day) chart, something betrayed this notion. In particular, the ADX at 62, coupled with the D+ already hooked down; this to me, seemed to confirm the CCI as overbought (at 140) which mimicked similar hooked down pattern. The sudden drop in volume together with the reduced top shadowed White Candle emphasized Bears are already to move in with force.
There again, since it’s only 30% above 200MDA, it would appear that A03 is not so extended after all.
In conclusion, it could still have its puffs and whether it is a last puff or not, it is yet to be seen. Therefore, the best strategy is ride on the uptrend until, the downtrend is breached!

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