weekend charting part 2, page-24

MAK

For me its been in a consolidation phase since dropping from the tops. Often shares need time to consolidate and form a basing pattern prior to another move. A good example of this is KZL which I suggested last week.
The weekly chart certainly is starting to want to go up in relation to indicators and given that we have absorbed the time phase i will be looking for major iincreases in volumes where i can add as we breakout.
If it doesnt happen then stops will take care of it :)))



The daily i have highlighted a little cross on MA's which works quite well for me and when added with the time consolidation this time the MA might move aside and let price takeover as indcated on chart in 2008. Now the move may not be that nice but if entry is right we can rely on stops to do the guess work.

The other thing i like and im sure many have taken advantage of it of late is the trading range from 40 to 60 offering great inand out trades as well. I have charted MAK a few times before and lets see igf this tiem it does pop north :))