On 15 Feb, after market closed we were alerted by our blog reader that this stock has potential to rally soon based on online forum/channel. The stock has been building base with a double bottom formation. Wave count also showed a possible trend reversal. The reader would like to see what S-Trader System shows along with it.
Here is the daily chart on 15 Feb with S-Trader tools.
Despite the recent price breakout one of the trend tracker with strong volume, there is strong resistance zone formed by RC1-1 and RC1-2. Similar situation been noted on 3 January but the price action failed to break above the resistance.
In such situation, wait and see what happens next before place any trade.
The chart below shows the price action until 2 March lunch break closing price.
Source :
1) Metastock
