Updates: Tebrau & Impressive Edge

Tebrau- No change in TA since I last wrote. Its still within the descending triangle (DT). RSI & MACD are still down. I am getting very uncomfortable with this position bec a DT is a weak pattern indicating downside movement & bearishness & a breakdown will be very bad for the stock. The "hoped for" (shouldn't really be hoping should we?) breakout from the DT has not materialised. Keep an eye on 0.50, if it falls below this then SELL. Next support is 0.45 & 0.40.


Impressive Edge: It has formed an Ascending Triangle (AT) with 0.275 being a strong resistance. Prices have been rising & it is still bullish as its in the upper channel of the Bollinger Band & also above the 5,10 & 15 day MAV. Vol has been receding as it gets closer to the apex of the AT which is typical of distribution within this formation i.e. holders selling at 0.275 are diminishing & once sellers at 0.275 disappear buyers will take the upper hand & prices will burst out of the top & rise strongly (at least thats what Dow Trading & AT is theoretically about). So based on technicals, we should soon see an up move provided it breaks 0.275 on strong volume. Traders can take a position in this stock but cutloss if prices fall below 0.245.