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Monday 9 December 2013

Nam Cheong - signs still positive

Roughly about 3 weeks ago, I posted a chart analysis for Nam Cheong with ending ascending triangle breakout. Although it seems to be still consolidating, signs are showing that breakout will come out sooner than later.















It has been trading at a range of 0.285 - 0.295 for nearly a month now, also with signification increase in volume. On the charts, I have placed emphasize on good entry position and a target cut loss price (in case things suddenly go south, which is highly unlikely). If stochastic continues to hit its low at 0.285, the trend will move the price in its direction. UP!

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