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Saturday, January 22, 2011

GAmuda broke the support line..

Well everybody thought Gamuda will make a return and rebound at RM4 so was I!!.
Well seem like selling interest is higher and RM4 support was broken.

1) Trendline - Below the Downtrend line -- Next support at 3.88 --> 3.8 ---> 3.73
2) LL - Forming Lower low bearish
3) MACD - Look like the Red army is win in a bigger gap compare to the blue army. MACD histrogram move to negative region no good sign
4) RSI - going down bearish
5) ADX- High Momentum with bearish signal- This downtrend will be strong

Take profit first and wait for the next reversal and penetrate throught the Downtrend Line before accumulating

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