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Sunday, March 6, 2011

IJMLAND - Rebounding Possible?



Observation
1) Trendline - Downtrend (Bearish)
2) Formed lower low ( Bearish)
3) MACD - Bearish but formed 4R1G (Possible of bullish reversal for short term profit)
4) RSI - Going up and if break above 30% ( Possible bullish reversal)
5) Sto - Testing the bullish crossover  and above 20% -(Possible bullish reversal)
6) ADX - High momentum but bearish
7) Candlestick - Bullish harami ( Bullish reversal)

Conclusion
Entry Price - 2.69
Stop Loss - 2.59
Take Profit - 2.8 (R1) and 2.92 (R2)

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