Logo

Position Trading using MetaStock CSI system scan:
Another buy signal for Ezra - the 3rd over the last 7 days. Conditions for entry are the occurrences of Green Ribbon, Blue Bar and Buy arrow.

Possible entry at 2.06 and stop loss exit at 1.95.

STI had been traversing along the uptrend line for the past few days but moved slightly above it today and closed just above 2681 which is the Fibonacci 50% retracement of the 3906 to 1455 drop. Near term upside likely if it can stay above the 50% retracement level.

STI broke below the uptrend line yesterday and it came back up to test it today. Will it break back above the uptrend line or head down towards 2540? We will just have to wait and see.