Tuesday, May 3, 2011

Gallant and Ausgroup chart

Gallant closed 0.430 today, has been down for many days after the wide range bar appear. It is now suitable to use our swing trade setup as the CCI is oversold -100 and price between 20 & 40ma. Can consider entry if tomorrow price break above 0.435, Stoploss can place at 0.415.

Ausgroup closed 0.445 today, same as gallant, this stock also have a wide range bar recently accompanied with big volume and the volume diminishes as price fall. In the pic beside, i drew a box for the area it consolidate. Ausgroup is now at the bottom of the box, risk taker can consider to long at support. It might have more upside if it breaks the top of the box.