Petra is one of the Laggard O/G Counter which shoot up pretty drastically from Mid Dec 2010 until Mid Jan 2011. So this counter it is good to monitor to catch another big fish..
Observation
1) Trend Line - Still in Uptrend (Bullish)
2) HH- Formed Lower High at 1.14 ( Bearish)
3) MACD - Bearish and now waiting for 4R1G for reversal hopefully by 17 Feb
4) RSI - Increasing and waiting to break 50% ( Slightly Bullish)
5) ADX - Average Momentum with Bearish Signal
Conclusion
If KLSE sentiment is good, most likely we will see a strong reversal for all counter and for this counter we need to look into the candlestick. Previous Trading day, it shows a weak hammer on the 50d MA and if there is a white candle on Monday it will show a strong reversal signal such as Morning Star as shown below
Entry Price - 1.08 (Risky)
1.14 (Safe)
Stop Loss - 0.98
Take Profit - 1.29 (10%)
Daily Buy Call in Forum.. (Do not forget to view here for daily Stock Picks)
http://edwinextremebullrun.blogspot.com/search/label/FORUM
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