Equation: 4 November 2013, Monday, 9.52am Singapore Time
Chart Courtesy of Chartnexus
Attached above is the chart of Equation.
Equation broke down the PINK support as illustrated above and went through a volume-less flush-down.
It is touching a long-term trend support formed by the BLUE wedge. In addition, a mid-long term ORANGE support is also acting as a launchpad for rebound. Not all stocks need to react to short-term index correction, especially penny stocks.
With BLUE and PINK launchpad supports acting as triggers, Equation is poised for strong buy-ups and a strong rebound to backtest the RED CIRCLED resistances as follow:
Target 1: $0.013 (upside of at least +30% profits without leverage)
Target 2: $0.017 (upside of at least +70% profits without leverage)
