This is what we call stock market. Everytime we think that the bleeding has been stop and rebound , it will drop again in a few days because of other factors from other countries..
I believe many people have started to accumulate again after seeing KLSE rebound strongly at 1507 support line and invested again hoping to earn money from the higher low and potential it might go up above 1570
Observation
1) Trendline - Broke the downtrend line but not able to break the resistance at 1531
2) HH - Tested the higher low at 1507 and went back up to 1521. Waiting it to go up above 1576 previous higher high to confirm bullish run
3) MACD - Red Histogram is saturating and waiting for a 4R1G entry point
4) RSI - Still at oversold region in 23.2% and waiting to break above 30% to show initial confirmation on bull
5) ADX - Still with good momentum at 32 points and with bearish signal
Conclusion
Let wait for the Noise and other factors to be removed and settle down before we go attack at full force. Too bad i also made a harsh attempt to go in 30% into KLSE again hoping to grab it at low price :)
Entry Price -
1) Wait till in break above 1531
2) MACD - 4R1G
3) RSI - Break Above 30% oversold region
4) CCI - Break above 0%
Stop Loss
1) Break below 1507
Take Profit
1) Take at least 50% profit from your stock when reaches the previous higher high at 1576
VOlume distribution for KLSE
I believe many people have started to accumulate again after seeing KLSE rebound strongly at 1507 support line and invested again hoping to earn money from the higher low and potential it might go up above 1570
Observation
1) Trendline - Broke the downtrend line but not able to break the resistance at 1531
2) HH - Tested the higher low at 1507 and went back up to 1521. Waiting it to go up above 1576 previous higher high to confirm bullish run
3) MACD - Red Histogram is saturating and waiting for a 4R1G entry point
4) RSI - Still at oversold region in 23.2% and waiting to break above 30% to show initial confirmation on bull
5) ADX - Still with good momentum at 32 points and with bearish signal
Conclusion
Let wait for the Noise and other factors to be removed and settle down before we go attack at full force. Too bad i also made a harsh attempt to go in 30% into KLSE again hoping to grab it at low price :)
Entry Price -
1) Wait till in break above 1531
2) MACD - 4R1G
3) RSI - Break Above 30% oversold region
4) CCI - Break above 0%
Stop Loss
1) Break below 1507
Take Profit
1) Take at least 50% profit from your stock when reaches the previous higher high at 1576
VOlume distribution for KLSE
| Daily Trading Participation (27/01/11) | ||
| Participation | Value (%) | |
|---|---|---|
| Local Retail | : | 24.97 |
| Local Institution | : | 49.89 |
| Foreign | : | 25.14 |
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