Wednesday, August 18, 2010

Three reasons to short CLF





14 Sep.





CLF is about to forming a top, also on 60 chart CLF building a top broadening wedge, in addition counting shows that stock might form a last top to completing the wave.












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10 Sep





stock forms a lower higher near 78.6% fibo resistance, what is good thing on chart is a bearish engulfing pattern. this candle pattern has been formed exactly below 78.6% fibbo and touched blue upper trend of broadening wedge, that concurs with a general bearish view on stock. In addition , the gap as showing stills open and act as support.

























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31Aug




The bearish situation didnt change, every stocks shows a weak signal.












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21 Aug



Next week will be big bang :)











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17 Aug


CLF is needless to identify, common in basic material sector. technically, stock shows a good opportunity for short it or buy PUT option.





The main support is near 58$





















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