Wednesday, October 28, 2009

HCC


HCC
The stock took support exactly at 50 DMA and at a bullish candle pointed out in the circle also it closed above the 38.2 % retracement area of the 2008 year high and recent march lows.
However the metastock system has given a sell signal
So the the best thing to do for existing longs is to place a SL of a close below 118 below which the stock can test 110-108 area. The next set of resistance is at 137 and 143 above which the stock will be bullish again.

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