Wednesday, April 18, 2012

Dukang Distillers

Dukang Distillers: would not be overly excited about the relief bounce that played out over the past wk, as the counter remains trapped in a longer term downtrend, with all 3 key moving averages headed south and diverging from each other.
Expect the bounce to be capped by resistance at $0.36.
The high transacted volume around the $0.40-0.44 price back in Feb, marks the start of the recent big decline, and may be a signal that negative momentum could carry on for an extended period.

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