Friday, September 18, 2009

SPSetia and Genm

SPSetia Weekly Chart

SPSetia has given me a buy signal based on the daily chart. Weekly chart still indicates an uptrend. The only worry is that its momentum is still weakening. A close above 4.50 will indicate a breakout, which means that a good chance of breaking 4.70. Any breakdown should find support at around 3.90.

Genm Weekly Chart

Genm has given me a buy signal based on daily chart. This is still a downtrend stock. Downtrend line resistance is at 3.00. A close above 3.00 means that it can possibly go to 3.50.

Disclosure: Long in SPSetia, no position in Genm.

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