Google Ad Choice

Saturday, February 5, 2011

KLSE testing 1531 Resistance.




Now everybody is excited what will be the outcome for KLSE. Can KLSE break the 1531 resistance and fly up with 2 ~3% and break the resistance of 1576 and go for 1600 level??



































Observation
1) Trendline - Broke the Downtrend line and currently slight bullish
2) HH/HL - Above the previous high at 1530 and now closed at 1531 just at the border
3) MACD - 4R1G start of bullish attack.. Confirmation when Bullish Crossover
4) RSI - Broke the 30% - start of  Bullish attack Confirmation when break 50%
5) ADX - Bullish attack (Blue nearer to red) with high momentum


Conclusion
KLSE needs to break above 1531 and stay on top to be on course of a new BULLISH attack.. Now it will be the best time to accumulate stock to ride on this bullish wave but however need to set a safe stop loss at 1505 as always. It has tested twice and if tested again, the wall will be easily be breached.

Entry Price : 1535
Stop Loss 1505
Take Profit 1576

No comments:

Post a Comment

NUFFNANG ADS