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Sunday, February 27, 2011

KLSE , why it did not go up even all the regional when up..

Currently many people capital are slowly depreciating like the picture of the ice cube slowly melting away...

1) Trendline - Downtrend ( Bearish) and supported by the Gap Support between 1492 ~ 1485
2) HH - Formed a lower low ( Bearish)
3) MACD - Bearish but the Histrogram Retracing up ( good sign) and let wait for the 4R1G signal to buy in again.
4) RSI - Retracing toward 30% ( Bearish) and if rebound at the 30% ( Good buying signal)
5) ADX - Good momentum but bearish
6) Sto - Retracing towards 20% ( Bearish)
7) Candlestick - Matching Low  ( Bullish)

Pattern: reversal
Reliability: high

A long black day is followed by another black day with equivalent closes both days. The Psychology
In a downtrend or during a pullback within an uptrend, a long black day occurs signaling the bears being in control. The stock gaps up the next day but then sells off to close at the same level as the previous day. The more times a stock can successfully test and hold a low, the higher the chance a reversal will occur once the seller become exhausted. Strength the following day with volume would confirm the pattern.
Refer to

Entry Price - 1503 ( Bullish Harami above the midline of the Black Candlestick)
Stop Loss - 1483 ( Below the Gap support)
Take Profit - 1509 (R1) , 1521 (R2), 1531 (R3)

Daily Buy Call in Forum..  (Do not forget to view here for daily Stock Picks)

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