Thursday, September 9, 2010

OUE Ltd, Covering the Gap

OUE ltd $2.98 up 5.3% today, though volume is low, It is a good setup to trade as it is closing up a "gap". A gap is a change in price levels between the close and open of two consecutive days, generally a space between price. Where it show that there is no resistance ahead, hence price can move upwards easily. Resistance will be seen around $3.18 level. Stoploss around 2.86