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Rowsley: Will The Uptrend Continue?
Trend Spotting | 08 February 2013
By: Robin Han
Articles (102) Profile

Rowsley gapped up on 4 February after it secured a big contract worth $545 million, thereafter, it pulled back.

As of now, the counter has a quite healthy pattern. When the Straits Times Index pulled back over the last three days, it managed to hold well. This is a sign of strength and it may continue uptrend after the current consolidation.

Also, we can see that its volume over the last three days had been pretty low, indicating an un-strong selling. It is trading at the previous-high-turned-support-level, which can be seen as a low-risk entry opportunity.

Daily Chart of Rowsley

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.

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