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Saturday, July 9, 2011

Air Asia formed a hammer on support

On Friday, Air Asia formed a nice hammer and rebound form the support at 3.37. Can this be an indicator to bull again?

1) Trendline - Uptrend( Bullish)
2) Formed higher high- ( Bullish)
3) MACD -Kissing and awaiting for the 4R1G and this will be a crucial turnover point ( Undetermined)
4) RSI - Retracing toward 70%( Undetermined ) . Bull if rebound and bearish if break below it
5) Sto - formed bearish crossover and broke 80% (Bearish )
6) ADX - good momentum and bullish ( Bullish)
7) Candle Stick - Hammer on support 3.37(Undetermined ) Waiting for next day signal. If White candle and goes up it will be bullish
8) Volume Distribution - Selling Pressure is more due take profit  (Bearish)

2 Points

      3 Points


Winner BULL
Need to wait for it to rebound and break the resistance to start another round of bull run

Entry Price  3.52 ( Previously was 3.46 but updated with new Fib sets)
Take Profit  at 3.67 and 3.86
Support at 3.45

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