Has a good run up since the last set of Buy signals (blue arrow), now it is retreating after forming the Double-top pattern. Supports at around $0.43 to 0.45:
Profit warning was issued, followed by sell signals and bearish indicators. Price attempted to stay above the central price line but broke down and stayed in the lower price band:
3 months after IPO in July, a profit guidance was issued today. Looking at its charts, one can find several warning signals:
1. Bearish signal started to cross down in early October (Chart 3) 2. Price fell into the lower price band (Chart 1), a sell signals appeared (Chart 4) and the Trix sell signal was triggered (Chart 7) 3. MFI and RSI turned bearish (Charts 5 and 6)
Closed with 52-week low. Price action and all indicators are very bearish:
Sino TechFibre ($1.27, 20071019):
Price crossed into the lower price band and touched the lower price line which served as a good support on last Friday. A sell signal had appeared recently and with the rapidly deteriorating indciators, it is expected to dip further below the support at 1.24 in the coming weeks: