SVI : Breakout > 3.86 points to 4.05-4.10 as the target.
March 3, 2011 Leave a comment
SVI has the kind of day chart that has us running for the hills. Just too volatile and without a nice flow to the proceedings. Maybe the market maker had a difficult childhood?
For now, key resistance is 3.86, but it looks as if it will take this barrier out and spike to 4.04-4.10 or so, possibly very soon indeed. Entry must come with a tight stop, and is preferable much nearer 3.70 given it slides on low selling pressure. Otherwise wait for a breakout on hefty buying at 3/86, with 4 or so as the target zone.