Sunday, April 18, 2010

Technical analysis: Anooraq Resources Corporation (AMEX:ANO)

*Chart taken from www.stockcharts.com

Alerted on this blog at $0.95 on jan/05 link.
Link to chart: link
Link to google finance: link
Company website: link

Support :  1.45 - 1.50
Resistance : 1.75 - 1.90

The chart shows a clear uptrend. Consider the support and resistance levels for effective trading. The chart shows support in 1.45 and 1.50 range. A break below these support levels may suggest a selling point. A break above 1.75 should be highly bullish. As long as the stock stays in these support and resistance levels, there are good chances it should continue to go up and give you steady returns. It is well over it's 50-day and 200-day moving averages of 1.39 and 1.02, which may be seen as a good sign. Good luck!

*Please do your own research before buying any stock listed here.

No comments:

Post a Comment