Disclaimer

Disclaimer - I'm too dumb to be an expert thus all the contents of this blog are just my random thoughts and may be incomplete or contain any informational errors. It is certainly not recommendation to buy or sell. You'll be responsible for your own decision. Please consult your investment consultants before making any investment decision. Also the author may or may not have position in the counters that mentioned in this blog.

Saturday 23 August 2014

Cuscapi - Bearish breakout


Chart : Cuscapi daily chart as of Aug 22 2014 (source: ChartNexus)

Refer to the post dated Aug 9 2014 : Cuscapi - Breakout Soon! , I have anticipated it would be a bullish breakout but now it seems like a bearish breakout instead. Unlike many other counters, the counter didn't rebound from the selling of Aug 20. The immediate horizontal support line will be 0.34. It is crucial for the stock to stay above this immediate support line, if it break the 34 sen support line, it is most likely fall further to test its 3 year uptrend support line.


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