Pine Agritech on 31/08/07

Possible outbreak, vol is building up today. Although there was a downgrade of this counter to netural. After it breaks the resistance of 0.405, it will be testing the next resistance at 0.455, which is the 31.8% fibo. Also don't forget there's will be a XD on 04/09/07 (0.019), which is on Tuesday. Therefore we will expect a drop by 0.02 on Tuesday. After that we will relook into the TA and FA of this counter again. If it's able to push through and break the resistance of 0.405, which I think Monday it will break. We will be looking at 0.42 at least.

During the 31/08, 1,638 buyers and 1,211 sellers, and also to add on, there are people trying to push the price up to clear 0.40 as 732 lots are done over there. I guess this will be a slow and steady counter. It will be able to make it to 0.60 maybe end of this year or early next year, unless there's some good news which is able to push it to it old resistance which is at 0.60.