Sunday, December 16, 2007

BDO - unhealthy retracement of the recent downtrend


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BDO = 59.5

BDO formed a white candle with lower high and lower low with increasing volume.

BDO trading above the 65MA. Might be a level of support.

BDO was able to retrace more than 61.8% of the recent downtrend. It might be a signal that the recent downtrend would likely not continue and that BDO might move sideways or trend up in the coming trading days.

Good luck to all BDO traders!
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