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Saturday, January 29, 2011

Will KLSE goes up while Dow Jones drop

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

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

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
Participation   Value (%)
Local Retail : 24.97
Local Institution : 49.89
Foreign : 25.14

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