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Saturday, January 22, 2011

ANN JOO Hammer sign potential rebound

On Jan 21 there was a strong reversal candlestick hammer at 2.94 support line and bounced back up to 3.04.

1) Trend line - Broke the uptrend line and it was pull back strongly to reach closely to the uptrend line. If on Monday it close above 3.08 it will be a good entry point for another round of bull TP at 3.26
2) HH - Formed a HIgher low at 2.94 above the previous higher low at 2.8
3) MACD - Still positive and need to wait for the 4R1G for confirmation on the entry point
4) RSI - Testing the 70% and if monday close higher it will penetrate through this showing Bull RUn
5) ADX- High momemtum with slight bearish signal

Entry Price - At 3.08
Cut Loss Price - 2.94
TP at 3.25 and next 3.36

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