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Saturday, April 20, 2013

Case Study: DuKang update

Case Study:  Symetric Triangle Chart Formation Breakout
Stock: Dukang

Dukang surged 20% to closed at 41c in past two days. A classic textbook example for chart formation breakout. It's so difficult to have this kind of gems in current market situation, given that the STI index has been sideway for 12 weeks already.

Stage 1: Sep 14, 2012-- Oct 23, 2012, Initial up run. the stock rose 50% to 35c.
Stage 2: Oct 24, 2012 -- Apr 17, 2013, consolidation stage. with resistance at 35c.
Stage 3: Apr 18, 2013-- current, resume up run, has risen 20% so far, target is at least 44c based on chart formation projection.

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