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Sunday, January 30, 2011

New Banking Sector to scout - AFFIN

=-Let talk about another banking counter - Affin ( Laggard) which my benefit from future OPR increase on their interest rate.

Observation - Using Fibonnaci Method due to do not have historical Support or Resistance above this since it has broken the historical resistance before
1) MACD - 4R1G bullish signal at 27 Jan and the Blue signal is moving up
2) RSI - Going up and break the 70% will indicate bullish signal
3) ADX - Momentum pretty high and bullish

Entry Price - 3.62 above the 78.6% Fib Level
Stop Loss - 3.46
Profit - 3.73 R1 and 3.88 R2

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