Stock Chart Analysis EFUT

Posted by downtowntrader | 7/02/2007 10:35:00 PM | 0 comments »

Stock Chart Analysis EFUT

eFuture Information Technology Inc. (Public, NASDAQ:EFUT)

I highlighted EFUT in late May as possibly bottoming although I didn't envision a 60% move happening a few days later. EFUT had a major breakout on good volume rising from 15 to over 24. It has now pulled back to the 20 day sma and although it hasn't turned back around yet, I think it is slowing down enough to add to the watchlist. I would prefer for it to not retrace all the way back to 15, but 16 is a decent possibility. I do think the next high volume positive day will probably mark a bottom and the beginning of a new leg up. As always, please do your own due diligence.

Good Trading,


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