Email from Rocky to ZL >>> Hi zl,
RESORTS old / new charts attached. Reasons for not to buy Resorts when it started to drop @ November 2008 >>>
* from FA >>> Resorts started to drop near end of Nov'08 due to bad qtr report and related party transaction which is hate by investors.
** from TA, WEEKLY chart, there were 2 Bar Fractal on 7/11 & 21/11, both high=2.80. From what i know, 2 Bar Fractal is a strong reversal signal that could bring down the price around 34%,
so 2.80 x 34% = 1.84.
Note : RESORTS intraday low 16 Mar 2009 = RM1.84
So far i did not see any reversal signal that support me to call for a BUY on Resorts after the selling.Resorts did make a rebounce to 2.46, but it was just another SELL signal from fractal.
Regards,
Rock
HAPPY REBOUND !!!
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