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Thursday, February 17, 2011

Kencana testing 2.67 resistance




Will Kencana Follow Dialog Foot step and boom up? I would not say it is 100% but there is high chances ... 60% ( that is my current level) to go up...











Observation
1) Trendline - Uptrend ( Bullish)
2) HH - Formed higher low at 2.44 and going up ( Bullish) and by break 2.67 ( Higher high) will indicate strong bull run.
3) Candlestick- Formed small harami ( Slightly Bullish)
4) MACD - Still Bearish and awaiting for Golden Crossover for Bullish Confirmation
5) RSI -  Going up to 55% and broke out from 50% ( Bullish)
6) ADX - Momentum Weak and bearish

Conclusion
High chances of bullish attack but need to follow the stop loss..

Entry Price - 2.52 ( Risky)
                    2.58 (Safe)
Stop Loss - 2.3
Take Profit - 2.96 ( 20%) - sweet

and follow the Stop Loss n Take Profit for warrant at here
http://edwinextremebullrun.blogspot.com/search/label/FORUM

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