Friday, 22 June 2007

Total ReCOL

When is a flag not a flag? When the volume is wrong.

As seen in the chart, COL has a nice healthy uptrend which went sideways for a while. It broke out of that consolidation to climb all the way to 11.00. Now, the set up is there. However, the volume is not the textbook description of how the volume should be.

So this could be nothing but a false alarm. Otherwise, we might see this easily go to 13.00. No such luck.

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