Star Pharma

I really dislike seeing long tails and today not only did i see long tail, i see increased volume with no change in share price (distribution?) and a shooting star formation on Star Pharma!! How it rhymes, "shooting star on star pharma".

The tail of the star is now the resistance level. Star Pharma must overcome 63 to take away that bearishness and may face short term weakness as it has risen significantly in the last few days and is now outside the upper end of the bollinger band. A possible correction down to 57 could be possible.

There are 2 ways to trade this:

(1) Sell on strength tomorrow;
(2) move your stop to the 60 cents level and see if it is triggered.

I will be sellling into strength tomorrow. Hope US closed positive tonight :D