Friday, March 30, 2007

Anatomy of a Possible Breakout Chart: EWZ

Based on the annotations to this chart of EWZ, I would be a buyer on a high volume break of $50, or a low volume pullback to $$47. The key to this chart is not only the support and resistance levels, but the pickup in volume. This indicates institutional interest. The stock has moved to the old highs on higher volume than the original ascent.

1 comment:

drnova2000 said...

Great looking chart on EWZ.
Do you still have a position in HOKU?

What's your opinion on SIGM? You think it will tag along support or break down below $25?