Hi tonylim,
Here’s the updated chart.
1. We can see that there is some ‘light’ buying over the last few days. Volume is not as high as those in Aug – Oct 2009.
2. The price inch upwards but was not breaking 0.43
3. We can see that the price has consolidated at this region since last October and [...]
Previously, I mentioned that StamfordLand is hitting resistance and is trading inside the Weekly Kumo; a sign of trendless state.
Just a couple of days back, the Reserve Bank of Australia announced rate hike and indirectly, it lead to a small surge for StamfordLand.
Though, it is clear from the chart that it lacks the strength to [...]
StamfordLand has a nice gentle upward slope with the leading kumo showing that the upward trend is still intact.
On the Daily Chart, I see 0.45 as the price for it to break out of.
This is further confirmed by the Weekly Chart which shows that as the kumo resistance .