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Sunday, February 20, 2011

KENCANA formed spinning top.. Up or down?



Obersvation
1) Trend Line - Uptrend ( Bullish)
2) HH - Formed Higher Low  at 2.44 on 11 Feb ( Bullish)
3) Candlestick - Formed Spinning top ( Indecisive whether bull or bear)
4) MACD - Still Bearish and awaiting for Crossover ( Bearish)
5) RSI - Going up to 62% and broke the 50% on 17 Feb ( Bullish)
6) ADX - Momentum weak and bullish

Conclusion
New Entry Price = 2.7 for those who did not enter at 2.58
Stop Loss at = Trailing Stop Loss at 2.48
Take Profit at 2.67 (R1) - 50%  and  2.96 (R2) the rest...


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