End of Show - Kannaltec & Salcon?
Some stocks have risen exceptionally well the last few weeks but have they reached the end of their run?
Kannaltec is one such stock. It has risen almost 160% in 6 weeks but seems to be highly overbought. The ADX at 68 is already very high & MACDH is also at a high peak. It has also reached its all time high 0.545 which is now a very strong resistance. Can it continue to rise or will it fall? I think it will start to correct from here. All good things must come to an end & this might be it for Kannal. So I rate it a SELL.
Salcon - also may start its reversal. Daily Candlesticks is -ve & the DMI looks like it is going to make a -ve cross. ADX is also starting to move down. MACDH is at a peak. Perhaps with all the new stocks like timber & other old favourites coming back maybe Salcon's run is over. SELL
posted by Dr. Siva @ 1:29 am
2 Comments:
for salcon, my short term indicate 223 bear vs 0 bull ... furthermore the stochastic doesn't look good ...
fundamental is not that promising ... i won't buy for long-term, hit & run if TA trigger the signal ...
let's wait & see ...
Doc,
Ur wise opinion needed.
what do ya think abot vs industry?
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