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Monday, February 28, 2011

Air Asia - Formed inverted Hammer and rebound




Observation
1) Trend Line -  Downtrend ( Bearish)
2) HH - Formed lower ( Bearish)
3) MACD - Bearish but Histogram going up.. Positive sign
4) RSI - Broke above 30% ( Bullish)
5) Sto - Broke above 20% and Bullish Crossover ( Bullish)
6) ADX - Weak momentum but bearish
7) Candle Stick - Formed Inverted hammer and rebound ( Bullish)

Conclusion
Entry Price - 2.55
Stop Loss - 2.37
Take Profit - 2.7 (R1) and 3.04 (R2)

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