CapitaRChina 2008-05-06 Daily Chart [$1.51]
Price pattern recognition:
price is potentially forming a pennant consolidation for the next leg of run up
Indicator observation:
another nice H&S breakout observed on daily MacD - bullish
Additional note:
note is that the right shoulder volume is much active than that of the left shoulder and head, which is an added positive point on top of the observed pattern
Expectation:
after a sharp rise off a base build up along $1.33 , share price is now narrowly traded within a pennant shape on low volume. This is viewed as a positive consolidation and eventually could lead to an upside test back along $1.70+ (Feb high)