Sunday, November 4, 2007

04/11/2007

Stock candidates' performance

No winner this week. Especially when upcoming days are going to bring further pullback to the market.
ATLANTIS deviated from its symmetrical triangle to finally form a descending version of this pattern. Recently there has been very low trading activity, which does not yet imply that heavy selling pressure is coming. Though I would suggest to be more defensive before getting involved, because the price still could violate the lower band of this triangle - 2,20. Then we would probably see a retest of the closest support level - 1,75.
ENERGOPOL also remained in its pattern, which in this case is a classic rectangle. The last two candles in the daily timeframe are hammer and a doji, which puts this stock practically in the same situation as above - low volume pullback and reversal candles with long downside shadows. There is yet a chance to violate 18,90, which is the lower band of the rectangle.
MOSTALPLC posted a hammer on friday, also indicating, that it will stay inside its all-time-high-rectangle. Same as before, no upside breakout, reversal candle near the short term support, low volume pullback. This week, we had no winner, but no loser either. Basically these candidates can go either way, but for now, they have remained in sidetrends.

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