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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??

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

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

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