AOT : Strong resistance at 50 or so.
July 25, 2011 Leave a comment
Flying high of late, AOT has a significant barrier from 50 to 52, and is at risk of seeing some hefty profit taking at such levels. A breakthrough on big volume is possible and would place 55 then 58 as immediate targets, but for those already long from much lower prices, watch closely and see how it trades at 50 or so. Certainly from 55 to 58 we would consider taking profits if such levels are hit within a fortnight or less.