Gallant, GALLANT VENTURE LTD

[Hc]

Gallant Venture (2007-09-07 Closing Price $1.10)

Price breakout from triangle formation with good volume seen, immediate resistance 1.15 & 1.19.

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[Lion]

2007-07-25 daily chart ($1.20)

Gallant Venture Technical Analysis:

Comments:

daily Chart - since Jun, stock was tightly held approx 10c range just below long term Sma as shown, with key support at $1.19 . Daily macd continues to stay negative while 20/55days Sma both turn down below 133days Sma

Conclude: $1.19 key support looks shacky, breaking it would resume its downtrend move started in early-May

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[culion]

2007-02-27 daily semi-log chart ($1.38)

Gallant Venture Technical Analysis:

Comments:

Daily Chart - share price has been trending within a wide semi-log uptrend channel as shown. Today's lower closing has formed a similar three-day candle pattern that occured in early-Jan & early-Feb, with a white candle, a doji followed by a black candle. This time round the nearish signal is stronger given:
1. share price re-test broken immediate uptrend but failed to penetrate/hold onto
2. bearish divergence observed on daily MACD
3. price trapped within symmetric triangle while trading volume has gradually reduced, awaiting a breakout on either side

Conclude: in both previous occasions, share price slipped lower but made a decent rebound. This time round, share price is likely to repeat the same action, but rebound may only be found at a level about $1.20

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[culion]

2006-10-22 hourly chart ($0.99)

Gallant Venture Technical Analysis:

Comments:

Hourly Chart - technically, share price is potentially forming a bullish Asending Triangle with neckline along $0.995 based on closing price. Hourly OBV Line has already leads breakout, suggesting smart money are moving in.

Conclude: with returned strong volume interest, share price is poised to test initial target objective along $1.12 (New Historic High!) once it breaks above $0.995 on closing

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[Hc]

Gallant Venture (2006-09-05 Closing Price $0.71)

Price fell below the support at 0.715 is bad sign. If price does not climb back, then our next hope is for the green up trend line to hold.

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This post has been edited by Hc on Sep 5 2006, 11:44 PM

[culion]

2006-08-08 hourly chart ($0.52)

Gallant Analysis

Comments:
Daily Chart - back in Jun, bearish divergence observed, followed with initial break below leveled support before share price finally subsided to a downfall. Currently, share price is now experiencing a similar "pattern" thou' in a smaller scale: bearish divergence, initial break below leveled support

Conclude: cautiously bearish in short-term of yet another downfall...

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