One of the laggard counter since it drops a lot compared to its peer in O/G sector.
Observation
1) Trend Line - Major Trend line - Bullish
Minor Trend Line - Bearish Temporary
2) HH - Formed Lower High at 2.65 (Bearish)
3) MACD - Retracing (Bearish) and waiting for 4R1G for strong reversal hopefully by 17 Feb 2011
4) RSI - Retracing towards 30% ( Bearish) and waiting for rebound at 30% for reversal
5) ADX - Average Momentum with Bearish Signal
Conclusion
This counter is temporary downtrend and waiting for strong signal for reversal
Entry Price - 2.52 ( Risky)
2.58 (Safe)
Stop Loss - 2.3
Take Profit - 2.96 ( 20%) - sweet.. Time to punt on Kencana Warrant :) if the KLSE sentiment reverse for bull run..
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