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Wednesday, February 9, 2011

UEMLAND - Hitting Resistance and retracing?

What happen to UEMLAND losing Steam to bull?

1) Trend Line - Sideway trend
2) HH - Formed Lower High at 2.9 and retracing ( Bearish)
3) MACD - Still in bearish region but histrogram still positive ( Slightly Bearish)
4) RSI - Now at 20% ( Bearish)
5) ADX - Momentum weak but Bullish (Sideway Trend)

Well, we thought it formed another bull run but today there was no momentum to push it up higher. Currently in Sideway trend awaiting for the Bull and Bear to decide who will be incharge..

Just hold this counter and put the stop loss at 2.7 (S1) and 2.6 (S2). In addition UEMLAND, will have high potential because Government Linked and taking over Plus ( Recession Proof Counter)

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