Tuesday, July 9, 2013

**** Monitor Closely: Blumont. Share price 1.205.

Following up from trading call made 2 weeks ago on June 26, 2013. Blumont has again traded higher and formed a new resistance at about 1.20 level. Has seen it test this level again today and managed to cross above it briefly, touching a high of 1.22 as of now. As long as this as this 1.20 holds as a new support level and Blumont holds above this level, more upside can be possible to 1.24 to 1.26 level. You can see that it is still trending above the 20 DAY MA LINE strongly and buyers will start accumulating on any dips once it nears this moving average support line. A break above 1.30 can see it find a new all time high and trade higher.
Stop loss at 1.18 for short term trades. 

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