Tuesday, April 5, 2011

SIA Engg

SIA Engg closed 4.02, having a downtrend since October last year, this stock have been trying hard to break the 4.10 support. Finally it break through on 17/3 with a long black candle. As previously mentioned, a successful breakout is when the stock stay below the resistance for more than 10days and price fail to break through resistance when tested. Using our short term reversal system, we have a short sell signal today, Entry can be 4.00 , stoploss 4.11, Target 3.90 timeframe 2 week-1month. (disclaimer: nothing is 100%)