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Monday, February 14, 2011

AMMB -- Drop the highest

As discussed in my post on the Finance Sector. AMMB is the counter which drop the most about 16.4%. If the market recover AMMB will be one of the best bet for higher gain.

1) Trend Line - Broke the Uptrend line ( Bearish)
2) HH - Formed Higher High at 6.66 and Retrace ( Bearish)
3) Candlestick - Formed a hammer with high volume ( Point of Bullish Reversal)
4) MACD - Bearish and wait for 4R1G for bullish reversal confirmation probably by Feb 17
5) RSI - Oversold at 14% and if today and Feb 17 goes up it will break the 30% starting of bull run
6) ADX - Momentum strong but bearish

With good market sentiment, Finance Sector will benefit from this recovery

Entry Price - 6.31
Stop Loss - 5.95
Target Profit - 6.66 (R1) , 7.08 (R2) and 7.19 (R3)

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