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Wednesday, March 9, 2011

PCHEM shooting up



Observation
1) Uptrend - Bullish
2) Formed higher high bullish
3) MACD - Bullish and take profit at 4G1R
4) Sto - Bullish but overbought
5) RSI - Bullish but overbought
6) ADX - Momentum weak but bullish

Conclusion
Now currently it is walking up the band and if you see any black candle after hitting the resistance better take some profit first

R1 - 6.84, R2 -7.05 and R3 - 7.17

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