Friday, April 6, 2012

NICORP - Channel Breakout

NICORP - Channel Breakout (April 06, 2012)

NICORP, after 18-day consolidation, yesterday broke out of the downtrend channel from 0.430 low, confirming a breakout which has a target of 0.235 in range, giving TP@0.665. If able to break 0.670, We will see another attempt to break the 0.70-0.75 peak & this time it should have more momentum & higher probability to break a new high. If true, we will be waiting at the 1.00 mark by then.

MTRONIC is also in the midst of breaking out of its recent downtrend channel. Will talk on that in another post to come.


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