Anhui Tianda Oil Pipe Company Limited (0839) : Very nice Cup and Handle formation

Previous post on Anhui Tiande highlights the kumo resistance. And indeed, Anhui Tiande hit the kumo and retrace a little. What happens next is it actually forms a cup and handle and when it break through the kumo resistance, it breaks through strongly. Very nice 🙂

Anhui Tianda Oil Pipe Company Limited (0839) : Kumo resistance ahead

Anhui Tianda just had 2 days of high volume buying and this lead to a gap up. With the gap up, the chart is showing signs that Tenkan sen may cut Kijun sen; a bullish indication. However, it was only back in July 13 that this counter had a bearish cross. Another occur in August… Continue reading Anhui Tianda Oil Pipe Company Limited (0839) : Kumo resistance ahead