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Saturday, January 22, 2011

ALAM rebound.. Time to accumulate?

One of the laggard Oil and Gas Counter which have huge potential gains if chase up with the leaders about 30% profit.

1) Trend Line - ABove uptrend line and rebound from the uptrend line and close at 1.13
2) HL - Formed higher low at 1.11 compared to previous higher low at 1.05

3) MACD - Slight Retracing towards bearish and waiting for 4R1G for entry point for accumulation
4) RSI- Testing the 70% line and break above this will show another phase of bull run
5) ADX = At 26 which have slight momentum but with bearish signal

If monday this counter closed higher at 1.15 it will be a good entry price to accumulate for another phase of Bull Run together with good market sentiment

If broke below the uptrend line and support at 1.07, take some profit and wait for next rebound at 1.05

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