Friday, April 20, 2012

20th April 2012 – Just cannot wait for Facebook IPO, how about China Facebook?

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

5.75

 

 

 

6.70

 

 

 

Reason for Buy / Sell / Short / Cover:

 

  1. Intraday started to turn up and on Tuesday it suddenly shot up above intraday resistant line.

 

Lesson Learnt:

 

  1. Daily chart shows that price is sitting at the tip of the triangle formation.
  2. Strong support from both daily 20MA and 50MA lines.
  3. Monthly chart shows consolidation at the handle of "cup and handle" formation and price keep floating above monthly 20MA line.

 

Intraday Chart

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Historical Chart

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