CANDLE STICK TREND ANALYSIS
· The stock started the Downtrend from MAY ’09 and from making lower highs and lower lows. When The world stocks were making a run higher from march ’09 till now, i.e. May ’10 this one clearly proves that it’s a laggard.
· The MACD histogram is screaming aloud that there is a negative divergence with the +ve peaks becoming smaller and -ve peaks becoming bigger and bigger.
· The MA.s are in the worst possible alignment of 20 day below 50 day below 200 DAY . this makes it a perfect stock for shorting and to stay all the way away from taking a LONG position.
· POINT AND FIGURE TREND ANALYSIS
· The Stock has broken it’s UPTREND line That it’s been following from Oct ’09 and currently following a downtrend line which speaks volume about the weakness of the stock.
· The Bearish P &F objective of the stock which is calculated basing upon the momentum with which the stock is moving is at 240 . As the stock is continuously making lower lows the Price objective iAs named as “ BEARISH “