Friday, December 16, 2016

Can COMB.N.0000 respect the 100sma

Since the 12th of July 2016 COMB.N.0000 had traded above the 100 sma. This up move has been holding todate. But had been struggling to break above 145.00 forming an Ascending Triangle. Stock needs to respect the 100sma which is now at 140.70, IT MUST HOLD. If it closes below this level with strong volumes then it will Technically be bearish. There is also a major support line at 140.00, hopefully this would hold in order to sustain the bullish bias trend. On the upside we can expect it to test 150 in the short term should the resistance at 145 be broken with strong volumes. 140.70 is an area to enter based on a strong support at that point. This needs to be watched closely.


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