Another sector in Steel Counter where Masteel the leader have fallen a lot today. Will this knight prevail and fight back and rebound?
Observation
1) Trend line - Above uptrend line - If break below 3.02 take profit
2) HH - Retrace and still far away 2.8 lower high. If cut below 2.8 cut loss
3) MACD- Showing bearish 4reds and if tomorrow if close positve it will show 4R1G which might be a positive to accumulate and buy up
4) RSI - Overbought and hovering above 70% which correlate with the MACD. If tomorrow get a 4R1G , RSI will show a rebound above 70% to show extra bull run
5) ADX- Volume momentum is strong but bearish
Conclusion
If break 3.02 take some profit until 2.8 for any reversal. If there is a reversal with Candlestick pattern plus a 4R1G tomorrow, accumulate and wait for another round of bull
Talk about everything all under one roof which help us profit big money!! This blog have Technical Analyze Chart on Selected Stock and Forum for Daily Buy and Sell Call. Enjoy all in one blog for your daily needs for your stock picks.
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Tuesday, January 18, 2011
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