Saturday, May 28, 2011

CEB

My initial reading suggests a pullback to around 90(weekly basis) after breaking out to warrant a buy although I wasn't expecting it to drop up up to the current level.

But it did:



It retraced to 61.8% Fib levels. Nonetheless, it provides a relatively good short term upside at current levels up to the recent high of 98.

All we need now is positive(weekly/daily) momentum.

Confirmation of move this week:



Even if this is just an A-B-C correction(in a downtrend), you'd still have one profitable leg/trade.