Monday, May 12, 2008

China Life - LFC - BUY

Very symmetrical pattern with recent volume spikes that give it a well-rounded supporting bottom. Look at the last correction - if the pattern diverges away from that, then set a buy order at 53-54 to see if a shake out occurs, but also set a sell stop position at 49 in case the stock breaks down.

3 Positive Technicals

- Money Flows

- MACD's have broken through neutral.

- Symmetrical Pattern

No comments: