Stock Watch

2012.05.16 17:15:22
Stock Analysis

Stock : CLP HOLDINGS ( 00002 )

Suggestion : $63.8 ( Buy )
Target : $66.4
Resistance : $65.6
Support : $62.15

Reading from the trend of the share price, 10-day moving average is now at $65.75. 50-day moving average is at $66.6. It generates upward momentum as it stays far below the 50-day line. Meanwhile, RSI-14 is 32. It approaches oversold area and signifies a technical rebound soon. In the Stochastic Oscillator, %K is likely to climb above %D as it is going to render a buying signal.

Analyzing the share price movement, the previous low ( 27/1/2012 ) is at $62.15 and the recent high ( 8/3/2012 ) is $69. Measuring from the recent high, Fibonacci 0.382 retracement is $66.38. 0.500 correction from the recent high is at $65.57. 0.618 retracement is at $64.76. It fails to hold above 0.618 retracement, and stays in a typical correction.

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