HC Technical Analysis Daily Report 29 May 2008

May 28 Trading Session Highlights

Trend Status Summary

Trend Status           Current         Forecast

  MT trend                Bullish           Bullish

  ST trend                 Bullish           Bullish

Previous Session Highlights

The market started up on a positive note then

lost some momentum during the session. Trading

activity was tight. As a result, the CASE30 closed

at 11,017, while volumes reached 40.2 million

shares.

Update on Expected Scenario

We continue to believe that the CASE30 index is

on its way to a recovery. We expect the recovery

to take the index up to the 11,100 – 11,300

range, at which the market may find some profit

taking activity.

Update on Suggested Trading Tactic

Accordingly, we advise those who have already

realized some of their short term profits to hold

remaining portions of their current positions.