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PFC - Double top or M Pattern ?

Discussion in 'Technical Analysis' started by sujan4bw, Aug 24, 2012.

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  1. sujan4bw

    sujan4bw Member

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    Hi Shabbir,

    PFC has formed double top pattern, below 166 should be an entry point on down side.

    It has got support in range of 156 - 159.

    Please correct me If I'm wrong

    Regards
    Sujan
     

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    sujan4bw, Aug 24, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Do you mean shorting then yes but then support is very near and so not ideal. ROI is too risky but yes shorting in spikes is better option in this stock with a stop loss of previous spike
     
    shabbir, Aug 24, 2012
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  3. sujan4bw

    sujan4bw Member

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    Let me know your views on PFC now. Started thread when it had M pattern, now there is breakout of two highs.
     

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    sujan4bw, Sep 19, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Financials looks upbeat and so should be a good stock to play but remember it could be fakey setup as well.
     
    shabbir, Sep 19, 2012
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  5. sujan4bw

    sujan4bw Member

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    Yes it could be fakey set up bcoz of news.
     
    sujan4bw, Sep 19, 2012
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