mrrikitikitavi
Short

Basic idea/play on $CLWT

NASDAQ:CLWT   EURO TECH HOLDINGS CO LTD
10 0 1
This is a basic idea to short $CLWT due to it being overextended and I can not see it getting any higher now unless it has the same amount of buying interest and volume which I can not see happening due to the it having HOD at 4.20 and then crashing back down to the 3.10 range. Also I noticed the supports at the 38.20% and the 61.80% fib levels did not hold and the size of the candles that crash through the supports tell me that there was a lot of momentum going right through them supports like a crusade of bears attacking a family picnic :)

5 min chart level:

I can see this spiking down in the morning maybe or fading towards the support 1 line and depending how well this supports holds I may cover here but if it crashes through again without much of a fight I can see it reaching the 100% fib level where I will cover depending on if it holds which I think it would do.

The only thing that worries me slightly is if you look at the daily chart its quite messy and has been above and at the HOD plenty of times before in the not to distant past but I will wait for the market to open and watch the price action to gauge what this ticker is doing.

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