September 9, 2010

Sesagoa Ltd technical analysis

  • Sesagoa Ltd is falling from a weekly head and shoulders pattern.
  • Daily chart is showing a triangle pattern.
  • So if the weekly pattern is going to work perfectly the triangle should beak on the downside. 
  • One can go short once 311 is taken out for a minimum target or 303.
  • If 303 is broken the stock will target 290 levels.
  • But for now play for the minimum target once 311 breaks. Keep a stop loss of 332 for this trade

1 comment:

  1. Actually pattern plays out but only problem is timing. Sometimes it takes lot of time for pattern to break.