HEMRAJ : Approaching key resistance at 1.84-1.87
March 3, 2011 Leave a comment
HEMRAJ on the daily chart is approaching key price and trend channel resistance from 1.84 to 1.87. It may test this, even hit nearer 188-1.90, but it does not looks as if it will be able to breakout just yet, due to overall lack of volume (for now). For a successful breakout we think a few days of 90-100m shares traded is what’s needed, so look out for usually large orders as assign a ramp will play out.
Might be a punt today to 1.84-1.85 or so, as long as it does not gap from open.