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Tuesday, November 29, 2011

Biosensors ( $1.34 ) - Flag Formation

A bull flag could have been formed pending breakout on the direction of the prevailing trend. If breakout does occur, the price target is $1.6.

I agree the duration of the downtrend channel is more than the usual 1~3 weeks. In this case 4 weeks, which is slightly too long. Let see if it still pan out as a bull flag although not textbook fashion.

One thing about this blog is that there is seldom hindsight view. Most of the charts or analysis posted are usually predictive in nature. So it is not possible to score 10/10 in every opportunity spotted.