Looking at the 6 month daily chart, SBN8 has been on a downhill pattern since it peaked at $15.18 on 4 March 2008. It is trading near the 1 year low of $9.56. Yesterday it traded at a low of $9.82 before recovering to close at $10.02. The 20EMA crossed over the 200MA on 21/5/2008 and I expect the 81EMA to cross the 200MA line sometime next week. The MACD is indicating that it will go higher sometime next week. Will keep an eye on this one.

Tags: Sugar

This entry was posted on Sunday, June 1st, 2008 at 2:12 pm and is filed under Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.