Wednesday, January 19, 2011

19th Jan 2011 – Pattern Study - SOLF

Ticker:

 

  1. SOLF

 

Topic:

 

  1. My good friend (Fang) spotted this stock.

 

Lesson Learnt:

 

  1. The daily chart clearly shows how insider letting go SOLF one month before the quarter result announcement. It shows how the stock gap down after touching the trend line.
  2. Multi-bottom was formed  with low volume and then gap up with good volume  to the trend line which generate a strong buy signal.
  3. It then retraced back to the 50MA line for a healthy consolidation and then rally again.
  4. This stock is still in the 1st phase of rally. Good for LONG entry.
  5. RSI and MACD both go above the zero line.

 

Intraday Chart

-NA-

 

Historical Chart

     

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