Annjoo Technical Analysis

Annjoo's daily chart

Trend: Downtrend with reversal signals

Momentem: The bear momentem for the period 12/12-20/12 has decreased as compare to the period 05/09-27/09. This might indicate a 'true' reversal in coming.

MACD: MACD cross over signal and MACD shown a divergence with price indicate a bullish signal . Bullish price bar broke through 20d moving average. 50d moving average nearby historical resistance, might results in price pull back before further uptrend.

Volume spread analysis: 12/12 - 20/12 bear price movement accompanied by rising volume at the beginning and decreasing volume at the end which might indicates decreasing selling pressure. I interprete the 3rd latest price bar at 3/1/2012 as a testing of supply which is a sucessful test.

Conclusion: High probability for reversal of bear. Profit target 2.2.

(Note: This post does not contain a buy or sell order. Any information disclosed above might contain mistakes and any losses incurred from using the information above I will not be liable.)