Google Ad Choice

Sunday, June 26, 2011

Kencana - Still in uptrend but can it still hold?

Kim Sa Rang

Well look like overall oil sector are retracing and will Kencana able to hold the pressure?

1) Trendline - Uptrend Bullish
2) Formed lower high- Bearish
3) MACD -  Bearish Crossover ( Bearish) and waiting for 4R1G for a bullish reversal
4) RSI - Rebound from 70% and retrace ( Bearish)
5) Sto -  Formed bearish crossover and broke below  50%( Bearish)
6) ADX - strong momentum and bullish
7) Candle Stick - Black Candle showing bearish continuation ( Bearish)
8) Volume Distribution - Selling pressure is high as especially in the high volume at the last trading hour. ( Bearish)

6 Points

      2 Points


Winner Bear ( Throw down wrestling style)

Currently majority of the indicator are showing bearish and need for the right timing on the bullish reversal with 
1) MACD - indicate 4R1G
2) Sto rebound from 50% or 30%
3) RSI rebound from 50%

Entry Price 2.86
Resistance at 2.91and 2.96
Support at 2.75
Daily Buy Call in Forum..  (Do not forget to view here for daily Stock Picks)

No comments:

Post a Comment