Thursday, November 17, 2005
STATS ChipPAC Review
Last Friday the stock succeeded in freeing itself from the downtrend channel existing since the end of July. In this context, Friday’s doji can be regarded as a pointer to the trend continuing as yesterday the doji high could be exceeded. Yesterday also the stock managed to surmount the 250 daily moving average wich can be seen as a follow up long indication. Procyclical investors now can consider taking new long positions/extending existing ones, restrictively hedged shortly below 1.02/0.96.
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