Chart Watch 2007-01-21

Sunday, January 21, 2007

AUSTIN EXPLORATION LIMITED - AKK



A Bullish hammer occurred on the 12th, which has a low reliability. It requires confirmation of the implied trend reversal by a white candlestick, a large gap up or a higher close on the next trading day, which occurred on the 15th with a bullish engulfing candle.

As we can see on the chart we have clearly defined trend line, spread of the long term group and contraction of the short term group. Current count back line at $0.79, close on Friday at $0.88.

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