Ann Joo EOD 5/7/12

Ann Joo - Double bottom.

There was an up movement today, however it didn't managed to stay its upward momentum, and finally closed @ 1.64, 1 ct below opening of 1.65. But one positive thing is, that it is still above 1.63. Why do i say so? It's because if it were to break below this level, it will then probably move lower to its previous low of 1.58 or maybe lower which i wouldn't know.

MACD doesn't show any positive signal for the moment. It didn't break above the mid BB, which is still indicating that this stock is in downtrend.

Level to break is 1.70 and staying above it, would then show a positive sign. The next few resistances @ 1.80 - 1.84 (this would be the strongest resistance level) as it coincides with Fibo Retracement 23.6% as well.

He he, Chris Chung. My analysis lo......