Tuesday, January 18, 2011

Basura Plays Update

APC:



Formed a lower peak after a double top.

*Should have waited to break the double top before buying?
Possible support at 0.80.

Dark cloud cover candle on daily charts.
No RSI bearish divergence.
Normal correction.

ELI:



Formed a lower peak followed by an accelerated break down of the uptrend line.

*Should have waited for a sign of recovery before buying?

Possible Support at 0.70
Dark cloud cover on daily chart.
Bearish RSI divergence on the daily price.


SINO:



Formed a lower peak followed by accelerated decline but found(?) support at 0.43.
Buy if 0.45 is taken out.

Dark cloud cover candle on daily chart.
Bearish RSI divergence on the daily price.


*Note to self: Buy at the closing on red days and sell on panic buying days?

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