Rayong Purifier (RPC) : 3.80 then 3.92-3.94 key resistance
February 9, 2011 Leave a comment
RPC in play again, but will it actually be able to break its recent trend and hold above 4.00 this time? The 3.80 level is quite a tough barrier, but there is a decent chance the market makers will push it to 3.92-3.94, if not to 4 or so gain.
Volume does have a buy side bias, but overall flows are not yet strong enough to guarantee a breakout above 4. This afternoon first VST support is at 3.68 then 3.64, and on a quick pullback to 3.64 or very near, a trade to 3.80 and quite likely to 3.9 or so can be considered. Use 3.55 as a stop if swing trading and 3.58 if day trading.