Tuesday, June 09, 2009

HSBC, IOICorp and Engtex

HSBC Daily Chart

HSBC is not moving as I expected. I guess it needs more time for base building. I have no choice but to cut my losses in the CW.

IOICorp Daily Chart

IOICorp is giving too many black candles. The upmove corresponds with low volume. If it is going to go up again, then it must build up another base at around 4.50. I sold off half of my CW position and hopefully the other half is not threatened.

Engtex Weekly Chart

Engtex looks interesting. The movement looks nice on the weekly chart. Can it break the downtrend line? Weekly RSI says there is a chance. I do hope so as I'm already long in it.

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