OTCPK:ASLRF - Post by User
Post by
TAPickson Feb 07, 2011 7:52am
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Post# 18085429
Breaking out of downtrend
Breaking out of downtrendHere's a Silver company that came up on my scans as oversold and when I did the chart on it, it's about to break out of its current down trend. It has had a good run recently and you'd expect it to pull a little. Volume on Friday was above average and the indicators have turned upwards from that action. It has minor resistance at
.77 and should be able to re-challenge its recent high of
.89. I would still put a short stop loss on it though. If it doesn't break out of the down trend, I would bail out of it for now and wait for further direction in it. So entry now at
.72 with first target at
.80 for gains of 11.1% followed by
.89 for gains of 23.6%.
See chart here
https://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=710abcf5e8#AGQ
Cheers!