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Igarashi Motors

Discussion in 'Technical Analysis' started by masihpatel, Jul 7, 2012.

  1. masihpatel

    masihpatel Active Member

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    Dear Shabbir,
    Can you share your analysis on the chart of this stock, it has given two bounces once in April and another recently. Thx:)
     
    masihpatel, Jul 7, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Why don't you share your views first and then I will be more than happy to have them verified.
     
    shabbir, Jul 7, 2012
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  3. masihpatel

    masihpatel Active Member

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    I think It has given two break outs once at around level of 45 and another recently around 70. Can one enter at this level?
     
    masihpatel, Jul 7, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Yes I do see the breakout but the volume pattern suggest me that this would die out very soon and it may be some kind of play from big players to take this stock higher. I would take position cautiously in this stock because breakout is with good volume but those volumes are not sustaining.
     
    shabbir, Jul 8, 2012
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