<<Aiii>> Maharashtra Seamless chart: time to enter?

In the prior update (in Jan '11 – marked by grey vertical line on
chart below) to the technical analysis of the stock chart pattern of
Maharashtra Seamless, the 'death cross' of the 50 day EMA below the
200 day EMA (marked by light blue oval) technically confirmed a bear
market.

Two of the technical indicators had shown positive divergences, but
since the stock was in a bear market, investors were advised to exit.
Earlier, during Oct-Nov '10, the stock had formed a double-top
reversal pattern marking the end of its bull rally. After the stock
price dropped to its 200 day EMA in end-Nov '10, it bounced up sharply
but found strong resistance from its falling 20 day EMA in early-Dec
'10.

It quickly dropped below its long-term moving average and after a
couple of pullback attempts were thwarted, the stock price started
cascading down like a waterfall. How has the stock fared thereafter,
and is it a good time to consider a re-entry? Let us see what the
closing chart pattern of Maharashtra Seamless foretells:

Read more at:

http://tinyurl.com/mobugobu

--
Independent Investor Handbook
http://tinyurl.com/3octm2r

Ultimate Technical Analysis Handbook
http://tinyurl.com/yej8kem

How to Use Bar Patterns to Spot Trade Setups
http://tinyurl.com/yhszv6t

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