Technical Analysis – 27th Aug 2009

Hey folks. A pretty neat day today. Noble went to sleep today, heading much higher only to reverse into a shooting star look alike formation. Pay close attention to this tomorrow to see if the price closes higher. It must appear to close higher than today’s close to remain good for a long trade.

Swissco went crazy after reports by analysts revealed it was grossly undervalued. Swissco has been reducing its stake in Swiber as well. Swiber had a trading halt for 2 days and it has just released news of a bonds issue. Let’s see what happens tomorrow. The two counters may not move in tandem anymore.

Moving along this counter got my attention. Take a peek for yourself. Nice chart eh? Resistance at 87c and then at around 95c.

Another counter worth looking at is First Resources. Watch for $1 which if captured will form a buy signal.