I4
Long

Signs of a longterm trend reversal

I4  
NASDAQ:SVVC   FIRSTHAND TECHNOLOGY VALUE FUND INC
56 2 5
after breaking its long term downtrend that lasted over a year, it clearly hit support at 6.40 and then it 8.55 with high volume creating the cup and handle formation. The 200ma was acting as resistance multiple time till being broken 09/30 on high volume and the 50ma is now acting as support. The handle can be shown as a lowering wedge which was broken out of with high volume . The companies that this fund consists of all have interesting concepts and minor successes could bring this stock up after not doing so well after quite some time. I bought at 7.92 and looking for a movement to 9.00.
Trade closed manually
14. Good day to you. I like the way you try to anticipate the next move in stocks. This one has extended its base but may be ready now to advance. Have a good rest of the week.
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I4 goodguy
@goodguy, thanks! I liked your analysis on BBBY, hopefully that sucker tanks on thursday!
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