DGTL breaks away from its 3-month basing pattern on strong buying by broker ABN-AMRO. It advances 9.0% and closes at the high accompanied by a YTD record volume turnover. This stock has been in a secondary uptrend that began Aug-2007 followed by 2 steep intervening retracements exceeding 61.8% that accounts for a technically slow and dicey advance but a clear uptrend nonetheless. The height of the pattern and the Dec-2008 peak converges to offer a potential breakout objective of 1.84. With a new and higher support at 1.42, this stock's uptrend since Aug-2007 has so far defied the broad market downtrend that started Oct-2007.
PRICE AND TURNOVER
OHLC: 1.56-1.70-1.54-1.70
Change: +0.14 (+8.97%)
Value: 24,076,440 * Net Foreign Buying: +5,851,640
TECHNICAL ANALYSIS
Primary trend undefined * Intermediate uptrend * Short term consolidation (interrupted by a breakout) * Prior support 1.42 * Potential support (role reversal) 1.60 * Resistance 1.84 * Breakout (6.25% penetrating close) of 3-month range * Potential price objective of breakout move 1.84.
* Personal Disclosure: I own a trivial number of shares of DGTL.
PRICE AND TURNOVER
OHLC: 1.56-1.70-1.54-1.70
Change: +0.14 (+8.97%)
Value: 24,076,440 * Net Foreign Buying: +5,851,640
TECHNICAL ANALYSIS
Primary trend undefined * Intermediate uptrend * Short term consolidation (interrupted by a breakout) * Prior support 1.42 * Potential support (role reversal) 1.60 * Resistance 1.84 * Breakout (6.25% penetrating close) of 3-month range * Potential price objective of breakout move 1.84.
* Personal Disclosure: I own a trivial number of shares of DGTL.
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